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Hello Friends,
We have compiled more information for you during the COVID-19 crisis.
The Business Center (TBC) Updates:
All Youth & Money open house events planned for March and April will take place via Facebook Live. Participants will have the opportunity to virtually meet peer trainers, ask questions about the summer programs and participate in an entrepreneurial exercise. More details will be sent out on Friday. Also, check the website here or contact the office at 215-247-2473 ext. 3.
Small Business Administration (SBA) Updates:
Each state’s governor, including the Commonwealth of Pennsylvania, has the option to apply to the federal government to declare Pennsylvania counties eligible for SBA’s Economic Injury Disaster Loans (EIDL). Once a declaration is made, businesses can apply online at disasterloan.sba.gov/ela. Information on the EIDL program is explained in the News Release below my signature block. To prepare for the online application, businesses are also encouraged to review the SBA Disaster Business Loan Application forms at disasterloan.sba.gov/ela/Information/PaperForms.
If you have been, or expect to be financially impacted you may want to be proactive in contacting your bank(s), lender(s) and supplier(s) to determine what steps can be taken to mitigate the impact. If your business has an existing SBA 7(a) loan, 504 loan or Microloan, please contact your lender to discuss your options. You may also contact your insurance company to determine if your business insurance covers will cover losses due to the current emergency and steps you would need to take to file a claim. You can also contact Solomon Wheeler at 717-503-7094 or solomon.wheeler@sba.gov.
You may also wish to reach out to your local county resources, as well as the Pennsylvania Department of Community and Economic Development’s Pennsylvania Business One-Stop Shop: Email business.dced@pa.gov
Telephone 1-833-722-6778, Option 0
Website business.pa.gov
Philadelphia Department of Commerce and the Philadelphia Industrial Development Corporation (PIDC) Updates:
This is also a reminder that the City and PIDC will launch a program to support Philadelphia businesses, help maintain payroll obligations, and preserve jobs impacted by the spread of COVID-19. The program will be a tiered program that aims to provide targeted support for small businesses. More details about the program, including how businesses can apply, will be announced in the coming days. In the meantime, please complete this brief survey to assess the impact of COVID-19 here.
Stay tuned for the small business workshop The Business Center will present next Wednesday, March 25 on emergency funding and other resources to manage through COVID-19.
Lastly, please know that the Philadelphia Department of Commerce and PIDC are working on a COVID-19 business relief package, and we will share details in the near future. We are asking the business community to please fill out this brief survey, which will help inform us of your most pressing needs.
We will continue to keep you updated.
Stay Well,
Pamela Rich-Wheeler, MBA
TBC Executive Director
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