How to Get Funded in Western Pennsylvania Right Now
You don't have to be a tech startup to get funded. Small businesses and entrepreneurs alike have access to funding from sources like the government, private grant programs, corporate back grants, and more. We've taken a little bit of time and pulled together some options from around the internet to help small businesses get funded in Pennsylvania. Most of the information is geared towards regions in Western Pennsylvania but some sources may be more relevant to places like Philadelphia. Be sure to check sources before making assumptions and do your own research.
Disclaimer and Info About Perplexity.ai
The content in this article was created using Perplexity.ai. The questions posed to the bot were human-created, thought of, and original. The answers were generated by perplexity.ai and saved the writer hours of googling and summarizing and citing. We utilized separators in the text to help differentiate what came from the bots. You can find the original info here. This link is included at the bottom of this page for convenience.
Table of Contents
Current Status of Funding and Where to Get Funded in Western Pennsylvania
The bots pulled together the updates below and made recommendations about what to look for and where to find more information. They did a great job!
Small businesses in Western Pennsylvania should be aware of several key developments and opportunities coming up soon:
1. Increased Funding for Minority-Owned Businesses
Pennsylvania has set a record in assisting minority-owned small businesses, and more funding will be allocated in 2024. This presents an opportunity for minority-owned businesses to seek additional support and resources[1].
2. State Contracts for Small Diverse Businesses
Pennsylvania has broken its record by spending nearly $700 million on government contracts with small diverse businesses. This indicates an increased opportunity for small businesses to engage in state contracts, especially those owned by minorities and veterans[4][5].
3. Resources for Women-Owned Businesses
There are several resources available for women-owned businesses in Pennsylvania, including the Pennsylvania Business One-Stop Shop and the Small Business Development Centers (SBDC). These resources provide support in areas such as certification, funding, and procurement opportunities[3].
4. Economic Development Initiatives
The Shapiro Administration has proposed significant investments in economic development, including the Main Street Matters program and PA SITES funding. These initiatives aim to support commercial corridors and bring more commercial and industrial sites to Pennsylvania, which could benefit small businesses in the region[2].
5. Challenges and Opportunities
While there are opportunities, small businesses still face challenges such as labor shortages and fluctuating costs. However, investments and new businesses are continuing to emerge in regions like Meadville, indicating a positive economic trend[4].
Small businesses should consider leveraging these opportunities and resources to enhance their operations and growth prospects in the coming months.
Citations for this Section:
[1] https://phl17.com/national-news/minority-owned-small-businesses-in-pennsylvania-to-receive-more-state-funding-in-2024/
[2] https://dced.pa.gov/newsroom/shapiro-administration-kicks-off-small-business-week-highlights-importance-of-investing-in-pennsylvanias-downtowns-and-main-streets/
[3] https://dced.pa.gov/paproudblog/6-resources-pa-women-owned-businesses-2024/
[4] https://www.erienewsnow.com/story/51206163/pa-breaks-record-on-state-contracts-with-small-diverse-businesses-dollar700-million-spent
[5] https://www.weny.com/story/51206164/pa-breaks-record-on-state-contracts-with-small-diverse-businesses-dollar700-million-spent
Opportunities to Get Funded
We thought it was important to ask about what opportunities were available in Western Pennsylvania for small businesses and entrepreneurs to get funding. Below are just a few of the results that came back. The summaries may include grant amount ranges, a little about what to expect, and what the grants focus on.
Small businesses in Western Pennsylvania have several new grant and funding opportunities available:
1. Small Business Advantage Grant Program
This program provides reimbursement grants ranging from 50% to 80% of eligible project costs to improve energy efficiency or reduce pollution or waste. The grants range from up to $5,000 to $8,000, depending on the environmental impact and whether the project is in an Environmental Justice Area. Applications for the 2024-2025 program opened in late July or early August 2024[1][5].
2. Global Access Program (GAP) Grant
This is part of Pennsylvania's State Trade and Export Promotion (STEP) grant reimbursement program, which helps businesses export goods and services. Eligible businesses can receive up to $10,000 in reimbursements for international marketing and trade show participation costs[1][2].
3. Pennsylvania First Program (PA First)
This fund supports economic investment and job creation. Grants can be used for activities such as job training support, machinery/equipment acquisition, and land and building improvements[4].
4. Renewable Energy Program (REP)
This program supports businesses involved in geothermal and wind energy projects. Financial assistance can reach up to $1 million or 30% of the project cost for wind energy projects[4].
These programs provide various opportunities for small businesses to access funding for growth, energy efficiency improvements, and expansion into international markets.
Citations for this Section:
[1] https://www.sofi.com/learn/content/pa-small-business-grants/
[2] https://resolvepay.com/blog/post/small-business-funding-programs-pennsylvania
[3] https://www.usgrants.org/pennsylvania/small-business-grants
[4] https://upmetrics.co/blog/small-business-grants-pennsylvania
[5] https://www.dep.pa.gov/Citizens/GrantsLoansRebates/SmallBusinessOmbudsmanOffice/Pages/Small%20Business%20Advantage%20Grant.aspx
Upcoming Deadlines to Get Funded
Oof deadlines are hard to keep track of when you have so many things happening in your life and in your business. we asked the Bots what deadlines small businesses should be aware of in the next 30 days or so. Below are two things that popped up we think you should know about. We actually checked out the fast break for small business grant and it's legit and looks super cool. You may or may not qualify for it but it's worth checking out to see what kinds of corporate-backed grants are available.
Small businesses in Pennsylvania should be aware of the following upcoming deadlines for funding programs:
1. Small Business Advantage Grant Program
The application period for the 2024-2025 Small Business Advantage Grant Program is expected to open in late July or early August 2024. This program offers reimbursement grants for projects that improve energy efficiency or reduce pollution, with grants ranging from $5,000 to $8,000 depending on the project's environmental impact and location[2].
2. Fast Break for Small Business Grant
This program, offered in partnership with LegalZoom and the NBA, provides $10,000 grants and additional resources to small business owners. The application deadline for this grant is September 13, 2024[4].
These deadlines provide opportunities for small businesses to secure funding for energy efficiency projects and business development. Businesses should prepare their applications in advance to meet these deadlines.
Citations for this Section:
[1] https://resolvepay.com/blog/post/small-business-funding-programs-pennsylvania
[2] https://www.dep.pa.gov/Citizens/GrantsLoansRebates/SmallBusinessOmbudsmanOffice/Pages/Small%20Business%20Advantage%20Grant.aspx
[3] https://www.sofi.com/learn/content/pa-small-business-grants/
[4] https://www.phila.gov/2023-04-20-latest-grants-programs-and-resources-for-small-businesses/
[5] https://dced.pa.gov/newsroom/shapiro-administration-kicks-off-small-business-week-highlights-importance-of-investing-in-pennsylvanias-downtowns-and-main-streets/
What to Focus on Right Now to Get Funded
We totally get that it's hard to decide what to focus on right now in order to get funded. That's why we asked the Bots “what were several key aspects small businesses in Western Pennsylvania should focus on in their business cycle right now”. We think the answers were spot on and relevant to what's happening in our area right now.
Small businesses in Western Pennsylvania should focus on several key aspects of their business cycle right now:
1. Grant Opportunities
The Small Business Advantage Grant program is currently open for applications. This program provides reimbursement grants to improve energy efficiency or reduce pollution, which can help businesses save on operational costs. Eligible projects include upgrades to lighting, HVAC systems, and other equipment[1].
2. State and Federal Funding
Businesses should explore state-sponsored grants and federal funding programs. The Pennsylvania State Small Business Credit Initiative (PA-SSBCI) offers loans, venture capital, and collateral support to connect private financing with small businesses[2]. Additionally, minority-owned businesses are expected to receive more state funding in 2024[5].
3. Economic Development Initiatives
The Shapiro Administration's budget proposal includes significant investments in economic development, such as the Main Street Matters program, which supports commercial corridors and downtown revitalization. This could provide opportunities for small businesses to benefit from increased foot traffic and community support[3].
4. Business Development Resources
The Pennsylvania Business One-Stop Shop is a valuable resource for businesses at all stages of development. It offers guidance on planning, registration, and funding, helping businesses navigate challenges and opportunities[4].
By leveraging these opportunities and resources, small businesses in Western Pennsylvania can enhance their growth and sustainability in the current economic climate.
Citations for this Section:
[1] https://www.dep.pa.gov/Citizens/GrantsLoansRebates/SmallBusinessOmbudsmanOffice/Pages/Small%20Business%20Advantage%20Grant.aspx
[2] https://resolvepay.com/blog/post/small-business-funding-programs-pennsylvania
[3] https://dced.pa.gov/newsroom/shapiro-administration-kicks-off-small-business-week-highlights-importance-of-investing-in-pennsylvanias-downtowns-and-main-streets/
[4] https://dced.pa.gov/business-assistance/small-business-assistance/
[5] https://phl17.com/national-news/minority-owned-small-businesses-in-pennsylvania-to-receive-more-state-funding-in-2024/
Reminder that the writer used perplexity.ai (AI-assisted googling essentially 🙌) to pull this information together for you. You can find the original info here.
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