During this unprecedented situation, the City of Philadelphia continues to explore relief options for businesses of all sizes that are made available through the state and federal government, as well as other sources.
Changes to the Philadelphia COVID-19 Small Business Relief Fund
All Microenterprise Grant, Small Business Grant, and Small Business Zero-Interest Loan applications received by today, March 30, at 5 p.m. will be reviewed for funding consideration from the Fund that was announced on March 23.
After 5 p.m., on Monday, March 30, applications will only be accepted and reviewed from businesses applying for Microenterprise Grants
of $5,000. Applications for Small Business Grants and Zero-Interest Loans will no longer be accepted. Due to limited resources, Microenterprise Grant applications received after March 30 at 5 p.m. will be reviewed as new funds become available.
Federal and State Financial Resources for Businesses
Local businesses are encouraged to review eligibility requirements and apply for non-City resources, including the following programs:
– Applications for the Commonwealth of Pennsylvania’s new COVID-19 Working Capital Access Program, administered by Pennsylvania Industrial Development Authority (PIDA), should be submitted to PIDC—the city’s Certified Economic Development Organization (CEDO). The program offers zero interest loans of up to $100,000 to for-profit businesses with 100 or fewer full-time employees.
– Applications for the Small Business Administration’s (SBA) Economic Injury Disaster Loans (EIDL). Businesses are also encouraged to review SBA’s pending Paycheck Protection Program, recently approved in the CARES bill.
– Additional information regarding local and national resources for businesses can be found here.