The grant program, which was created in partnership with the Philadelphia Industrial Development Corp., is available to local businesses that meet the following criteria:
- Business operates as a restaurant that has indoor dining or as a business whose primary activity is indoor exercise.
- Business is independently-owned (franchises are eligible if independently-owned).
- Business occupies a storefront, retail or commercial space physically located in Philadelphia.
- Business is operating at the time of application or has operated in the last 90 days, with the intention of being operational again within 90 days.
- In 2019, the business earned less than $2 million in annual revenue.
- Business reported at least a 25% decline in revenue from Q4 2020 as compared to Q4 2019.
- Business has all federal, state and local licenses required to legally operate.
- Business is in compliance with all federal, state and local tax requirements (or is on or in the process of getting on an approved payment plan).
The grants may be used to cover operating costs, such as rent and payroll costs, as well as to purchase personal protective equipment and other COVID-19-related expenses. While not required to be eligible for the program, the city will prioritize businesses that are located in high-poverty areas, that suffered damage in 2020 due to civil unrest, that provide jobs to Philadelphians and that are minority-, woman- or disabled-owned.
To apply for a grant, businesses should submit the following information online by 11:59 PM on Tuesday, February 9:
- Basic information about the business, such as:
- Entity type and structure.
- Employer Identification Number (EIN), social security number of business owner or Individual Taxpayer Identification Number (ITIN) of business owner.
- Business Income and Receipts Tax (BIRT) account number from the city.
- Annual and quarterly revenue from 2019 and 2020.
- Number of full-time and part-time employees, pre-COVID-19 and currently.
- Photo(s) of the business, both exterior and interior
- If applicable, details about any damage incurred during civil unrest in 2020, including photos of all damage reported and/or a report from the Philadelphia Police Department.
The Coronavirus Task Force at Klehr Harrison stands ready to assist you in your business and legal needs. We will continue to provide additional information and guidance as the COVID-19 situation develops.
Author Adrienne Beatty is an associate in the corporate & securities department at Klehr Harrison.