2424 Studios Bulletin Board
Hannah Mattheus-Kairys
Hannah Mattheus-Kairys
Today, the Philadelphia Department of Commerce and PIDC released the “Philadelphia COVID-19 Small Business Relief Fund (see the link to the application below) to provide immediate financial relief in the form of grants and zero interest loans to our local businesses adversely affect by the COVID-19 crisis. They are as follows:
1).
Microenterprise Grant: $5,000 award for small businesses with annual
revenue
under $500,000.00;
2).
Small Business Grant: Up to $25,000 for small businesses with annual
revenue
between $500,000.00 and
$3 million; and
3).
Small Business Zero Interest Loan: $25,000 to $100,000 to
economic entities
with annual revenue
between $3 million and $5 million.
The aforementioned application has the reporting and documents requirements, and the FKABID executive staff will be available to help our stakeholders complete and submit same.
Applications are now being accepted and will be reviewed on a rolling basis.
Hannah Mattheus-Kairys
City of Philadelphia Announces Changes to Philadelphia COVID-19 Small Business Relief Fund:
Beginning 5 p.m. on March 30, the following changes to this program will go into effect:
Due to extraordinary demand and limited resources available, applications submitted after 5 p.m. on March 30 will only be accepted and reviewed from businesses applying for microenterprise grants of $5,000. Awards for applications received after that deadline will only be made as new funds become available.
Applications for small business grants and loans will no longer be accepted or reviewed after this time.
More resources for businesses can be found here.