The Penn State Mont Alto LaunchBox presents Understanding EIDL Loans

The Mont Alto LaunchBox is an initiative of Invent Penn State. Invent Penn State is a Commonwealth-wide initiative to spur economic development, job creation, and student career success. Launched in 2015 by Penn State President Eric Barron, Invent Penn State is a $30 million initiative that redefined the university’s land grant mission to include entrepreneurship and innovation programs, tools and resources that accelerate the movement of great ideas to the marketplace and make a substantial economic development impact in Pennsylvania and beyond. There are 21 LaunchBoxes/Innovation Hubs across the commonwealth collaborating with local economic development and community organizations to help foster entrepreneurship and strengthen small business growth.
 
Key LaunchBox collaborators in our area in addition to the chambers of commerce, are Benjamin Franklin Technology Partners South Central, Penn State Law Entrepreneur Assistance Clinic, Penn State Dickinson Law Business Law Society, FCADC, CADC, SBDC, DCED, Penn TAP and SCORE. We also engage local entrepreneurs in our Mont Alto Entrepreneurship Advisory Council to assist with and guide LaunchBox planning.
 
Currently LaunchBox operates remotely, but we plan on moving into a downtown Chambersburg space in or around Q2 of next year. This location will provide us with a prime space for LaunchBox events and services including meeting space, workshops, 3D printing, offices, coworking space and future opportunity to run Idea Design and Test Labs. We will continue to offer the following events and opportunities to support entrepreneurs, startups, and small business in our area:
 

• Workshops on topics such as start-up success, finance, funding, legal and IP
• Events to recognize and support Global Entrepreneurship Week and Start-Up Week
• Annual LION Tank™ pitch competition (a Shark Tank-like event to help entrepreneurs launch their business idea)
• Offer in person and virtual programs (in the age of COVID and beyond)

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The following event is a LaunchBox workshop that will be held virtually on June 30 at 2:00 pm. Registration link below. It is free to register.

Many small businesses have taken advantage of various funds made available to them to support their business during the COVID-19 pandemic. Although much of those funds have been exhausted, there are still some left on the table. Join us on June 30 at 2:00 pm to learn more.
 
COVID-19 Economic Injury Disaster Loan (EIDL) This loan provides economic relief to small businesses and nonprofit organizations that are currently experiencing a temporary loss of revenue.
 

• Purpose of the program
• Loan amount
• Terms
• Use of Proceeds
• Collateral Requirements
• Repayment

 
Register Now
 
Guest Speaker: Solomon Wheeler, SBA
Solomon is the Harrisburg Branch Manager for the US Small Business Administration’s Eastern Pennsylvania office. He works with local and regional banks, chambers of commerce, small business development centers, and economic development organizations to promote US SBA loan guarantee programs, federal contracting opportunities, and technical assistance programs.