RCCB Advises New Pennsylvania 30 Day Fund
RCCB provided pro bono legal assistance to help form the new Pennsylvania 30 Day Fund, a nonprofit providing forgivable loans of $3,000 to small businesses. Local small business owner and real estate developer Jeff Bartos, RCCB’s Roger Braunfeld, and local entrepreneur and philanthropist Richard Phillips co-founded the Fund and are joined on the Board by Tom Nerney, Jeffrey Brown, Maia Comeau, Mustafa Rashed and Cassandra Bailey. RCCB’s Leila Vaughan and Laura Reinhold assisted in the Fund’s formation.
The Fund’s forgivable loans provide financial assistance to qualified small businesses (in as soon as three days) to cover immediate needs, with a focus on saving as many small businesses as possible during this critical time. By supporting payroll, health insurance costs and other immediate needs of these small businesses, the Fund provides a lifeline to struggling entrepreneurs and their employees. Since May 6th, the PA 30 Day Fund has raised over $150,000 and has already approved funding for 20 Pennsylvania small businesses.