Fund your business in Pennsylvania

Pennsylvania’s help for new businesses mostly runs through lenders and local partners, the way federal programs do. Free advisors can help you get ready to ask. A state startup grant or direct loan was not confirmed on the pages we read.* Check the official source.

What’s different in Pennsylvania

• Two SBA offices. Philadelphia (King of Prussia) for 40 eastern counties and Pittsburgh for 27 western counties.
• State credit programs run through partners. The Pennsylvania Department of Community and Economic Development (DCED) oversees $267,838,132 in federal SSBCI money. It has three programs, administered by regional and local economic development partners under contract to DCED.
• Free help is local. The Pennsylvania Small Business Development Centers (SBDC) has 15 centers, and your center is the SBDC for the county where the business is or will be located.

Do this

1. Write down what you need and what it is for. Equipment, inventory and rent are different asks, and programs are sorted by use.
2. Talk to a free advisor first. The Pennsylvania Small Business Development Centers (SBDC) counsels at no cost. Your center is the SBDC for the county where the business is or will be located. The SBA’s Philadelphia District Office also counsels.
3. Understand who lends. SBA loans come from participating lenders. The SBA loans guide explains who makes each kind.
4. Ask your lender about Pennsylvania’s SSBCI programs. The Pennsylvania Department of Community and Economic Development (DCED) runs its loan and equity programs through regional and local economic development partners under contract to DCED. Another route: Ben Franklin Technology Development Authority (BFTDA) for diverse-led venture funds.
5. Creating jobs? The Pennsylvania Industrial Development Authority (PIDA) provides low-interest loans and lines of credit for eligible businesses that commit to creating and retaining full-time jobs. You apply through a certified economic development organization (CEDO) in your county.
6. Look at certification for contracts. The Pennsylvania Department of General Services (DGS) certifies micro, small, small diverse, veteran and midsize businesses. Small diverse status is at least 51% owned by minorities, women, LGBTQ individuals or individuals with disabilities, plus a valid third-party certification. Apply on its certification page. Whether the state’s DBE certification program applies to you was not stated on the pages we read.* Check the official source.

What you get back

A loan offer from a lender, with rate, term and collateral. A state program’s role in it is between the lender and the program; your paperwork is with the lender.