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Philadelphia COVID-19 Small Business Relief Fund; Apply Today

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PHILADELPHIA PA (March 25, 2020)--The Philadelphia COVID-19 Small Business Relief Fund offers grants or zero-interest loans to Philadelphia small businesses impacted by the COVID-19 pandemic.

The program, administered by the Department of Commerce and Philadelphia Industrial Development Corporation (PIDC), aims to:

  • Provide relief to small businesses in order to help them survive this crisis.
  • Retain as many employees as possible.
  • Help businesses avoid predatory lenders.
  • Maintain the provision of goods and services for Philadelphia’s residents.


The Philadelphia COVID-19 Small Business Fund is designed to provide immediate relief – in the form of grants and zero-interest loans - to Philadelphia businesses negatively impacted by COVID-19.

 The goals of the fund  include: 

  • Helping small businesses survive the COVID-19 crisis
  • Retaining employment and helping small businesses continue to pay employees
  • Helping businesses avoid predatory lenders
  • Maintaining the provision of goods and services for Philadelphia’s residents

The Philadelphia COVID-19 Small Business Fund includes the following three programs:

RELIEF PROGRAM

ELIGIBLE BUSINESSES

AMOUNT AVAILABLE PER BUSINESS

WHAT YOU’LL NEED TO APPLY

Microenterprise Grant

Annual revenue under $500,000

$5,000 Grant

  • Signed Tax Return to confirm annual revenue. 
  • A description of the impact of COVID-19 on your business, and your recovery plan.

Small Biz Grant

Annual revenue between $500k & $3Million

Up to $25,000 Grant

  • Signed Tax Return.
  • 2019 Financial Statements.
  • Verification of cash flow needs.
  • Proof of insurance.
  • A description of the impact of COVID-19 on your business, and your recovery plan.

Small Biz Zero-Interest Loan

Annual revenue between $3Million & $5Million

$25,000 - $100,000 Loan

  • Signed Tax Return.
  • 2019 Financial Statements.
  • Verification of cash flow needs.
  • Proof of insurance. 
  • A description of the impact of COVID-19 on your business, and your recovery plan. 
  • No collateral requirements.

To apply for assistance please click on link below. There is one application for all three programs. Your request will be directed to the appropriate program based on your annual revenue. Please refer to the chart above for the program details and the information you will need to complete your application. 

Applications will be reviewed on a rolling basis.  Please be patient as we expect a high volume of requests.  

The Review Committee will consider the following priorities when awarding grants and loans:

  • The number of jobs that the business sustains during a normal business cycle (pre-COVID-19 levels).
  • The business demonstrates that it has lost a significant share (50% or more) of revenue due to the COVID-19 pandemic. 
  • The business demonstrates a strong chance of remaining open post COVID-19.
  • The business has experienced loss of revenue from other situations in addition to COVID-19, such as recent public works projects (i.e. water main breaks, utility repairs, street closures).
  • The business provides jobs to low-income individuals and/or is located in a zip code with high poverty.
  • The business has operated consistently for two years or more. 
  • For sole proprietors/independent contractors, priority will be given to those who are located in zip codes with high poverty and/or those that sustain multiple sub-contractors during normal business (pre-COVID-19 levels).

Based on the applicant pool, the Review Committee may choose to add further priorities or change eligibility criteria in the subsequent weeks. 

If you need assistance completing the application or any other questions about doing business in Philadelphia, contact the Office of Business Services at 215-683-2100 or Business@Phila.gov.  

 

Si necesita ayuda para completar la solicitud o cualquier otra pregunta sobre hacer negocios en Filadelfia, comuníquese con la Oficina de Servicios de Negocios al (215) 683-2100 o Business@Phila.gov.

如果您需要协助以完成申请或其他任何有关在费城经商的问题,请致电215-683-2100或 发邮件Business@Phila.gov与商业服务办公室联系。

By submitting this application you are agreeing to your application being shared with the Philadelphia Department of CommercePIDC, and their subcontractors for consideration of funding.

Three relief programs, one application

You can apply for the three relief programs through a single application. Your request will be directed to the appropriate program based on your annual revenue.

Please refer to the application details for more information about what you'll need to complete your application.

Connect

Address
1515 Arch St.
12th Floor
PhiladelphiaPA 19102
Email business@phila.gov
 

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