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House Co-Sponsorship Memoranda
House of Representatives
Session of 2021 - 2022
Regular Session
MEMORANDUM
| Posted: | October 20, 2021 10:40 AM |
|---|---|
| From: | Representative Darisha K. Parker |
| To: | All House members |
| Subject: | Local Business Forgivable Loan Program |
| Local businesses deserve leadership in Harrisburg that fights for them. As most jobs in our state are created by local businesses, we need to work with them hand-in-hand, doing what is necessary to set them up for success. In addition, it is paramount that we invest in neighborhoods that have suffered from economic inequalities and continue to struggle. My legislation will establish a forgivable loan program to strengthen local businesses in low- to moderate-income neighborhoods throughout Pennsylvania. Forgivable loans, available to local businesses in an eligible commercial corridor, will range from $25,000 to $50,000 and may be used to make systems and building improvements essential to growing and maintaining the business. Upon meeting all program goals after five years, the loan will be forgiven. These loans will provide the boost struggling companies need to put them back on the path to success. When local businesses thrive, jobs are created, communities and families prosper, and the economy of the Commonwealth grows strong. Bolstering local businesses during these extraordinary times of uncertainty is vital. Successful local businesses have a huge impact on the well-being of our Commonwealth and its citizens. I hope that you will join me in support of our local businesses, committed to serving all Pennsylvanians. |
Introduced as HB2319