Updates and Resources for Local Independent Businesses During COVID-19 

Good Evening, friends, 
 

As COVID-19 cases continue to fall in the Philly region, county officials are beginning to enter phases that allow some business activities to resume. Philly, already in the yellow phase, could enter the green phase by early July if cases continue to slow, and social distancing protocols continue.

The City of Philadelphia has released a Reopening with Care report that outlines and clarifies which businesses can and cannot reopen in the green phase. Check it out here.

Please see the following Philadelphia surrounding counties’ updates and guidelines for businesses to reopen: Bucks County, Chester County, Delaware County, and Montgomery County.

We’re mindful of your concerns as our region gradually reopens. Please continue to share your thoughts with us.  

New Funding Opportunities 

• Restart PHL Loan Fund - This loan program provides flexible low-cost capital to small businesses with less than $5M in revenue for costs associated with improved business resilience or growth and targets historically disadvantaged communities with a focus on minority, women, and immigrant-owned businesses located on commercial corridors in low-income areas. 

• Restore and Reopen Grant Program - The City of Philadelphia Department of Commerce recently announced $1.4 million in funding for businesses in historically underrepresented communities that experienced damage or inventory loss from the recent civil unrest to cover expenses needed to recover and reopen. The program is administered by The Merchants Fund. Program details, guidelines, eligibility and application will be posted on the Merchants Fund website once available.

News and Resources 

• The City of Philadelphia has introduced the Local Business Purchasing Initiative that will make it faster and easier to access contracting opportunities with the City.
• The SBA has created a revised, borrower-friendly Paycheck Protection Program (PPP) loan forgiveness application, in addition to revising the full forgiveness application. The new EZ application requires fewer calculations and less documentation for eligible borrowers. You can access both applications here.
• In addition, the SBA Economic Injury Disaster Loan (EIDL) has reopened that allows loans of up to $2M with up to a 30-year term. Advances up to $10K do not have to be repaid, and covers the period of February 15, 2020 to December 21, 2020. You can find more information here. 
• Last week, Philadelphia’s City Council passed housing bills that extends the eviction moratorium, waive rent fees, and creates an eviction diversion program. Read more from The Philadelphia Inquirer.

Upcoming SBN Events 

GSI Partner Events 

• Jessica Brooks, P.E., Director of the Philadelphia Water Department’s GSI Implementation, will provide an update and presentation on the capital improvement projects, and incentives program.This event is exclusive to SBN Members. Register now.

SBN is advocating for small business in the wake of COVID-19. Please read our Executive Director's letter to city, state, and federal legislators. 

Our COVID-19 page, as well as our FAQ, will remain updated with accurate, relevant, and timely resources to help you through this time. 

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