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PA 30 Day Fund introduces forgivable loans

The nonprofit Pennsylvania 30 Day Fund was the brainchild of Jeff Bartos, Richard Phillips and Roger Braunfeld which allows businesses that employ three to 30 people who are based in PA to apply for a forgivable loan.

You read that right: they do not need to be repaid!

Because small businesses are the lifeblood of our economy, the urgency to support and sustain the work and employees of our local PA small businesses has never been greater.

The business has to be owned and operated by a Pennsylvania resident, based in PA, and have operated for at least a year.

The good news? There’s no red tape. A simple one-page online application is available on their website and your financial assistance comes within three days – according to the statement on their website:

The non-profit Pennsylvania 30 Day Fund provides forgivable loans for Pennsylvania-based small businesses. The forgivable loan is intended to provide immediate financial assistance (within maximum three days) to meet payroll, preserve healthcare coverage for employees and save jobs while they await recently approved federal funding.

You can also donate towards the fund and receive a fully tax deductible benefit as they are a 501(c)3 organization. Your money goes directly to helping sustain local small businesses.

If a business who receives funds wishes to pay it forward at a later date to another struggling business, they are encouraged to do so, but they do not owe it back to the PA 30 Day Fund.

What are you waiting for? Check it out!

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