May 14, 2020
StreetView/Google
More than 2,000 small businesses in Philadelphia were chosen to receive financial assistance through the city's COVID-19 Small Business Relief Fund. The restaurants Fork, pictured above, and High Street on Market received a $50,000 loan.
Small businesses in Philadelphia have received more than $13.3 million from the city's COVID-19 Small Business Relief Fund, an initiative that launched in March to support companies hard-hit by the coronavirus pandemic.
A total of 2,083 small businesses were selected to receive grants and loans from more than 7,200 applicants.
Assistance was provided in three tiers:
• Microenterprise Grants — Up to $5,000 per business for those with less than $500,000 in annual revenue.
• Small Business Grants — Up to $25,000 per business for those with annual revenue between $500,000 and $3 million.
• Small Business Zero-Interest Loan — Up to $100,000 per business for those with annual revenue between $3 million and $5 million.
The list of funding recipients, published Thursday, includes a number of widely recognized businesses spanning a range of sectors, from child care centers and retail to hospitality, tourism, salons, music shops and trades. A few highlights:
• Tria Rittenhouse - $20,000 loan
• Abe Fisher - $40,000 loan
• Riverwards Produce - $40,000 loan
• Fork and High Street on Market - $50,000 loan
• Philadelphia Catering Company - $70,000 loan
• The Crepe Truck (Temple University) - $2,500 grant
• The Igloo (Fishtown) - $5,000 grant
• Love City Brewing Company - $15,000 loan
• The Philadelphia Woodworking Company - $15,000 loan
• Flotation Philly LLC - $2,500 grant
• Philadelphia Community Corps - $2,500 grant
• Bar Hygge - $20,000 grant
• Broad Street Movers LLC - $15,000 grant
• Bourbon & Branch - $10,000 grant
• Dock Street Brewery South - $7,500 grant
• Earth - Bread + Brewery LLC - $15,000 grant
• Ishkabibbles, Inc. - $5,000 grant
• ReAnimator Coffee Roasters - $20,000 grant
The entire list businesses can be viewed at the end of this article.
The businesses were chosen based on several criteria, including high revenue loss (more than 50%), highly-impacted industries and location in low-to moderate-income or high poverty area (above 25%). Applications also were prioritized if the business owners presented a plan for recovery and a commitment to retain employees as long as possible.
The bulk of the funding came from the city of Philadelphia, the Philadelphia Industrial Development Corporation and several private organizations, such as The Daniel B. and Florence E. Green Foundation, Citizens Bank, PNC Foundation, Knight Foundation, M&T Charitable Foundation and Truist, formerly BB&T Bank.
"The COVID-19 crisis continues to be a momentous challenge for our local neighborhood businesses, but by collaborating with local economic development partners, we've been able to quickly deliver vital resources to small businesses all across Philadelphia," said Sylvie Gallier Howard, Philadelphia's acting commerce director.
Philadelphia businesses also have been able to receive funding through the federal Paycheck Protection Program and a variety of other organizations that continue to provide support.
Gallier-Howard said she's happy the city has been able to offer the support, but hopes to see more in the future.
"It's clear that our business community needs access to more resources," Gallier-Howard said. "We will continue to advocate at the state and federal level to ensure Philadelphia receives the economic support needed to recover."
All of the small businesses that received loans and grants through the city's COVID-19 relief program are listed in the document below. This list was provided by the city of Philadelphia.
List of Philadelphia COVID-... by PhillyVoice.com on Scribd
