Ben Franklin Technology Development Authority COVID-19 Venture Loan Program (BCVL)
Pennsylvania Department of Community & Economic Development
Who can apply
Venture Capital Firms possessing the following are eligible: Be the General Partner of a venture capital fund that received BFTDA venture loan funding during or after calendar year 2015. Also, the bank account, that was established in relation to original BFTDA funding, must currently be available. Prior to year-end 2019, the manager shall have submitted a PA Activity Report to DCED staff, dated as of December 31, 2019. The financial resources to match the BFTDA’s loan commitment on a 1:1 basis utilizing non-BFTDA capital.
About this opportunity
The Ben Franklin Technology Development Authority COVID-19 Venture Loan Program (BCVL) is a Commonwealth of Pennsylvania initiative intended to address the financing needs of technology-oriented businesses by increasing the amount of risk capital available. The BCVL operates pursuant to the statutory authority of the Ben Franklin Technology Development Authority (“BFTDA”). The goal of the BCVL is to immediately offer, in aggregate, $4.2 million to authorized managers of venture capital firms in order to assist venture portfolio companies located in Pennsylvania, allowing these companies to continue to operate despite challenges related to COVID-19.