Following are grants and loans for small businesses and some that are specific to Covid-19. If you have any questions please email Andrea@occcda.org or call 267-282-1285.
Small Business Grants
Grants of up to $10,000 for businesses facing immediate financial pressure because of COVID-19—especially entrepreneurs of color, women-owned businesses and other enterprises in historically underserved communities who don’t have access to flexible, affordable capital. Application closes April 4, 2020.
Tiered grant awards of up to $20,000 will be made available to provide immediate relief to eligible organizations with operations located in the city of Philadelphia. The application period will begin on April 6th.
Microenterprise grants of $5,000 for Philadelphia small businesses impacted by the COVID-19 pandemic.
Cash grants and advertisement credits for up to 30,000 eligible small businesses in over 30 countries
Small Business Loans
CWCA Program is administered by the Pennsylvania Industrial Development Authority (PIDA) and provides critical working capital financing to small businesses located within the Commonwealth that are adversely impacted by the COVID-19 outbreak.
The SBA offers disaster assistance in the form of low-interest loans to businesses, renters, and homeowners located in regions affected by declared disasters. View the SBA’s webinar explaining the application process.
Zero-to-low interest loans that are forgivable if businesses retain their employees through June 2020. It can cover up to two months of your average monthly payroll costs plus an additional 25%. Applicants can qualify for a $10,000 forgivable advance (grant) within three days of application. Find a local SBA Lender here. View the PA Small Business Development Center’s webinar on the EIDL and PPP.
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| Source: Live Oak Bank |
Borrow $10,000-$50,000 in crowd funded working capital with a 45-day payment-free period. Take advantage of a 3.75% interest rate over an initial 6-month interest-only payment period followed by a 5% interest rate over a 3-year fully amortizing loan after the interest-only period with no pre-payment penalties.
Connecting entrepreneurs to 0% interest crowdfunded small business loans.
More Resources
Check out the following sites frequently for announcements regarding new opportunities
