Businesses all over the country are being impacted by COVID-19 and the stay at home orders issued by most states. Local, State, and Federal governments have tried to mitigate the damage with economic assistance in the form of funding. To learn a bit more about how Chester County business can get economic help, we’re talking to Michael Grigalonis, Chief Operating Officer and Executive Vice President, Chester County Economic Development Center.
What have the last few weeks been like?
- Retail/main street business impacted most dramatically.
- As soon as Chester County got stay-at-home orders, CCEDC conducted a business impact statement.
- Loud and clear: business are desperate for capital.
- The team at the CCEDC were able to process 112 out of 400 loan applications, submitting those to the State of PA in Harrisburg. This is the highest amount of any applications submitted to the state by any workforce development organization.
What help is still available for local businesses?
- PPP (Payroll Protection Program) – If that runs out of money, there will likely be more money available in due course.
- There will likely be more programs and more money.