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Grants and Loans – PHL Business Relief Fund now open!

Grants up to $5,000 for businesses with annual revenue under $500,000

Grants up to $25,000 for businesses with annual revenue $500,000 – $3 mil

No interest loans via PDIC for businesses with annual revenue $3-5mil, no collateral requirement

APPLY TODAY

Here’s what you need to know:

  • Your business must be physically located in Philadelphia, though ownership can be located outside of the city
  • If you have multiple locations under one tax ID, you will fill out one application
  • If you have multiple businesses with their own tax IDs, you can apply for each
  • Applications will be reviewed on a rolling basis, but apply early!
  • Only one grant per tax ID at this time

 

Preference will be given to businesses that:

  • Have experienced a significant loss of revenue
  • Employ low-wage workers
  • Are located in a low-income zip
  • Have been open for at least 2 years
  • Are tax compliant with the Philly Rev Dept
  • Sole proprietors and independent contractor that operate in low income zips or employee multiple subcontractor

 

What you will need to complete the online application:

  • Fill out a W-9 and an ACH form PRIOR to applying because you will need to attach them in the application
  • If you qualify for the PIDC loan, you will need to also fill out a credit authorization form
  • Your BIRT #
  • A description of how COVID-19 has impacted your business
    • 1,000 word max
    • Explain succinctly when you began experiencing losses, when you began cutting back on payroll, how revenue has been impacted over the past two months, when did you lay people off, etc)
  • # of employees you had prior to March 16
  • # of employees currently on payroll
  • Average$ hourly rate for employees
  • % revenue loss since March 1
  • % of total revenue/year projected for as long as this lasts (we know this will be hard to determine, but assume it goes through July and has residual effects for months beyond)
  • How will you use the funds?
    • to retain employees, for payroll
    • $ for rent
    • $ for utilities
    • $ for mortgage if you have one for your business
    • What is your recovery plan?
  • Do you have insurance that is covering some part of your closure expense?
  • Prior year revenue #
  • Projected monthly revenue now, under current conditions
  • Projected monthly payroll now, under current conditions
  • Square footage of your business

 

You will need to scan documents or take a photo if that is not possible. Consider downloading a scanner app to your phone or tablet to assist.

If you need help filling out the application, call: (215) 683-2100

Email: business@phila.gov