COVID-19 Working Capital Access Program


The COVID-19 Working Capital Access (CWCA) Program is administered by the Pennsylvania Industrial Development Authority (PIDA) and provides critical working capital financing to small businesses located within the Commonwealth that are adversely impacted by the COVID-19 outbreak.

All CWCA loan applications must be submitted through a Certified Economic Development Organization (CEDO). Download Factsheet

Where to Apply

PIDC is a Certified Economic Development Organization (CEDO) for Philadelphia County and is your portal to this funding stream as a Philadelphia-based business. See instructions below.

Eligible Businesses

Any for-profit businesses located in PA and with 100 or fewer employees worldwide are eligible to apply for disaster relief loans. Your application must be processed through the CEDO designated for the county where your business is physically located, which is PIDC for Philadelphia County.

Eligible Uses of Loan Proceeds

  • 100% of working capital costs incurred in the last 3 months for most businesses (including debt service, payroll, rent, utilities; excluding fixed assets). Businesses in the retail/service sector can include working capital costs that were incurred in the last 6 months, however only 50% of those costs will be eligible which calculates to an average of 3 months of business expenses
  • “Future” or “projected” costs are not eligible
  • NOTE: This program will require you to document the last three (3) months (or six (6) months for retail & service companies) of working capital expenditures

Available Funding

There is $61 million in total available across the Commonwealth as of March 23, 2020. Maximum loan size per company is $100,000. Note: Funds are expected to be in high demand. It is very likely demand for loan funds will outstrip supply.

Loan Amount

  • The lesser of 3 months of working capital or $100,000
  • Retail & Service Companies – Lesser of one half (50%) of 6 months of working capital or $100,000

Interest Rate

0% for all business types except Agricultural Producers which is 2%


3 years


12 years


No payments in first 12 months, amortized payments during years two (2) and three (3), one balloon payment for the remaining balance after year three (3)


  • An application fee of $500 will be charged
  • Borrowers will also be asked to cover any “out of pocket” costs incurred by PIDC


The loan shall be secured by a blanket lien on all business assets currently owned or acquired in the future at the highest lien position available


The loan shall be guaranteed by any individual or entity with a 20% or greater ownership interest in the eligible business/borrower

Credit Criteria

Some credit criteria for approval (as evaluated by PIDA) may include:

  • At least breakeven performance in the prior year
  • Acceptable personal credit history of the guarantors
  • Historical cash flow adequate to pay obligations (1:1 debt service coverage ratio minimum)
  • Borrower and its principals must be current in payment of all applicable federal, state and local taxes; proof of satisfactory workout agreements may be accepted

Application Materials

Use the BORROWER checklist and prepare to submit the following: 

For the intended Borrower (Applicant Company, an Operating Company):

  • Project Narrative Sheet
  • Exhibit A - Company Profile Sheet
  • Exhibit B - Business Certification Sheet
  • Exhibit C - Debt Schedule
  • Exhibit D - W-9 Form
  • ACH form to collect an origination fee
  • Most recent year end accountant prepared financial statements or the most recent filed tax return. 

For the Guarantors (any owner, individual or business entity, with 20% or more interest in applicant business):

  • Exhibit B - Certification Sheet (For Individuals and Other Entities)
  • Exhibit E - Signed and dated Personal Financial Statement (For Individuals)
  • Most recent year end accountant prepared financial statements or the most recent filed tax return (For Business Entities)

How to apply

Completed applications for Philadelphia County – please submit complete package to

COVID-19 Inquiry Form

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