We are happy to announce that program guidelines for CWCA, a program supplying working capital to businesses negatively impacted by the COVID-19 pandemic, were approved by the PIDA (PA Industrial Development Authority) Board on March 23, 2020. 

As of 3:00pm on March 25, 2020 – CCEDC is accepting Covid-19 Working Capital Access (CWCA) program applications.  Please note that complete applications will be reviewed in the order in which they are received.

UPDATE:  As of 10:00am on Saturday, March 28, 2020 we have received more than 200 submissions for the Covid-19 Working Capital Access (CWCA) program.  We will continue to accept applications but wanted to reiterate that the total amount of funding for this program is $61 million across the entire Commonwealth.

UPDATE:  As of 5:00pm on Tuesday, March 31, 2020 we have received word from the Commonwealth that the $61 million in funding allocated for the Covid-19 Working Capital Access (CWCA) program has been exhausted.  As a result, CCEDC will no longer be accepting or processing applications.  Please continue to check both this page and our Covid-19 Business Assistance Resources page for updates as new information and other programs become available.

PROGRAM DETAILS (Subject to change)

Where to Apply:

Chester County Economic Development Council (CCEDC) is the Certified Economic Development Organization (CEDO) for Chester County and is your portal to this funding stream.

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 CCEDC for Chester County.

Eligible Uses of Loan Proceeds:

  • 100% of working capital costs incurred in the last 3 months for most businesses (including debt service, 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 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 (1/2) of 6 months of working capital or $100,000

Interest Rate:  

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


12 years


3 years


  • A commitment fee of 1% will be charged (capped at $500)
  • Borrowers will also be asked to cover any “out of pocket” costs incurred by CCEDC
  • The closing fee and out of pocket costs can be financed as part of the loan


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)


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 enterprise

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

Application Materials: please prepare and submit the following:

Please view the BORROWER Checklist.

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

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

  • Signed Certification Sheet – Exhibit B – Individuals
  • For Individuals – signed and dated personal financial statement – Exhibit E
  • For business entities: Most recent year of financial statements

How to apply:

Completed applications for Chester County – please submit complete package to

****Please Note***

When submitting materials, please note that there is a 25MB file size limit.
Please submit each item as a separate attachment.

Download COVID- 19 Working Capital Access Guidelines_2020

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