State Sen. Killion to Introduce Bill Providing Zero-Interest Loans to Small Businesses

Kimberly McGuane
By
Image of State Sen. Tom Killion via Anthony Pezzotti, Philadelphia Inquirer.

State Sen. Tom Killion, who represents parts of Chester and Delaware counties, plans to introduce a bill to provide zero-interest loans to small businesses in Pennsylvania affected by the coronavirus-related shutdown, writes Erin Arvedlund for The Philadelphia Inquirer.

“As we see the current public health emergency unfold with COVID-19, we must act to provide resources for all of the residents of the commonwealth, including our employers,” Killion wrote in a memo to his fellow senators.

He has already received support from several of his colleagues who have signed on as co-sponsors.

The proposed bill would direct all state revenue received from casino table games in Pennsylvania to a fund within the Department of Community and Economic Development. The fund would create a zero-interest, small-business, economic injury loan program. The goal is to generate $125 million in relief for the state’s small businesses.

“COVID-19 is an unprecedented public health emergency,” said Killion. “However, the economic ramifications of this emergency are already being felt, and as policymakers, we must do all in our power to limit those negative effects and provide relief to Pennsylvania’s small business owners.”

Read more in The Philadelphia Inquirer here.

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