7 New Hope Small Businesses Get COVID-19 Relief (ICYMI)

NEW HOPE, PA — New Hope businesses that struggled through the coronavirus pandemic have gotten some help from the most recent round of federal funding dispersed in Pennsylvania.

The latest round of small business grants, funded by the federal CARES Act, saw seven New Hope businesses receiving a total of more than $150,000 in funds.

Many of the businesses that got money in the round announced last week were among the types of businesses hit hardest by the shutdown designed to curb the spread of the virus. Among them were nail salons, barber shops, restaurants, tattoo parlors, gyms and dentist's offices.

To qualify, businesses had to have had 25 or fewer employees in February 2020, and annual revenue of less than $1 million prior to COVID-19's impact, among other requirements.

The COVID-19 Relief Pennsylvania Statewide Small Business Assistance program provides grants ranging from $5,000 to $50,000. The department released a list of recipients who'd received funds or signed a grant agreement as of Oct. 3.

The recently enacted Pennsylvania state budget included $2.6 billion in federal stimulus funds through the Coronavirus Aid, Relief, and Economic Security Act (CARES). Within this allocation, the state Department of Community and Economic Development has been allocated $225 million for COVID-19 relief to small businesses through a distribution to Community Development Financial Institutions (CDFIs).

The aid granted is to help cover operating expenses and to assist business owners in stabilizing or relaunching their business, in situations related to impact from the coronavirus pandemic.

The following New Hope businesses received funding:

• The Curated Closet, $15,000
• Farley's Bookshop, $35,000
• Janet Costello-Wolf, $20,000
• New Hope Art House, $5,000
• New Hope Fitness, LLC, $25,000
• Fox and Hound Bed and Breakfast, $25,000
• Savioni (Shar Clothing), $35,000