The Emergency Fund is a new fund composed of both grants and loans to provide emergency relief to small businesses struggling under the financial impact of COVID-19. The fund will be launched on April 29th and is designed to help small businesses located within the City of Lancaster, PA.
The Lancaster City Small Business Emergency Fund will open with $1.5 Million available in highly flexible, low-interest loans and approximately $250,000 available in grants. Pennsylvania small businesses located in the City of Lancaster and with up to $1 million in annual revenue are encouraged to apply.
Applications will be open from April 29th at 9:00 am until May 10th at 11:59 pm. The Emergency Fund is NOT a first-come, first-served fund. All applications will be equally considered and will based on the following characteristics:
- Longevity in business
- Long-term sustainability
- Local economic and community impact of business
- Positive business practices
- Location of business in Lancaster City
- Number of employees
- Likelihood of survival if these funds are received
- Severity of current need
A copy of the Emergency Fund process and eligiblity fact sheet can be accessed here.