COVID-19 Local Business Support

Updated: Apr 29, 2020

If you own or work for a small business in our area, we've put together some resources for you to take advantage of at this time:


ONLINE RESOURCES

SOSNA LOCAL BUSINESS SPREADSHEET


We’ve created a spreadsheet to share with our community that includes:

  1. Best ways to contribute to worker funds for service and industry folks out of work at this time.

  2. Purchase gift cards to use in the future at our local favorites.

  3. Find takeout or delivery to satisfy your quarantine cravings.


Check out the spreadsheet here and if you have any additions for SOSNA’s area, please email nicoleatsosna@gmail.com.


OTHER RESOURCES:


**NEW** list of local grants/loans available for small businesses

http://www.pidcphila.com/covid-19

https://www.smallbusinesscopilot.com/financial-resources


FUNDING/GRANTS

RED BACKPACK FUND: Grants for Female Business Owners


Since its inception, Spanx and The Spanx by Sara Blakely Foundation have been dedicated to elevating and supporting women through entrepreneurship. Knowing the ripple effect that empowering women can have to strengthen neighborhoods, cities and countries, The Spanx by Sara Blakely Foundation donated $5 million to support female entrepreneurs in the wake of COVID-19 and teamed up with GlobalGiving to establish The Red Backpack Fund. GlobalGiving will be overseeing the fund, making 1,000 grants of $5,000 each to female entrepreneurs in the U.S. to help alleviate the immediate needs and support the long-term recovery of those impacted by this crisis. For more information visit their website.


PHILLY VIP: Free Legal Service


Philly VIP is now providing virtual 1-hour free legal consultations for nonprofits and small businesses on a rolling basis. Clients will be able to ask questions about a wide range of transactional issues as well as specific legislation and relief funds related to COVID-19. Eligible applicants may also have an opportunity to continue working on their legal matter with an attorney after the initial consultation. Philly VIP is now accepting applications from small businesses. Apply here


SBA PAYCHECK PROTECTION PROGRAM


**New funding has been made available by Congress for the Paycheck Protection Program (PPP), which provides relief to small businesses, independent contractors, eligible self-employed individuals, and nonprofits. Go here for a list of approved lenders to apply for PPP.


These Community Development Finance Institutions (CDFIs) are now accepting applications from Philadelphia small businesses and nonprofits:


Click here for an expanded list of local SBA-approved lenders.



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PPP provides eight weeks of cash-flow assistance  to small businesses and nonprofits with up to 500 employees through 100 percent federally guaranteed loans. SBA will forgive loans if all employees are kept on the payroll for eight weeks and the money is used for payroll, rent, mortgage interest, or utilities.

  • The application for small businesses and sole proprietorships opens TODAY. 

  • Business owners can find a lender here.

  • The Philadelphia Inquirer responds to a list of FAQs.