[ad_1]
On June 23, Mayor Jim Kenney accompanied Governor Josh Shapiro and Pennsylvania Department of Transportation (PennDOT) Secretary Mike Carroll to officiallyreopens six lanes on I-95. Since the initial collapse, local, state and federal partners have worked tirelessly to reopen the roadway safely and as quickly as possible. Efforts were ahead of schedule every step of the way to get traffic flowing again on I-95.
Our efforts continue financial support for companies! Small businesses in the disaster area have suffered significant economic damage as a result of the disaster and are eligible for financial assistance. Below are two financing options for businesses in Northeast Philadelphia affected by the temporary closure of I-95:
Apply for the emergency grant program
In June 2023, the Department of Commerce funded The Merchants Fund to launch an emergency grant program to support businesses struggling due to qualifying events such as fire, natural disasters, extreme forms of physical vandalism, utility outages, or business disruptions due to public Works. . The Merchants Fund is currently accepting emergency grant applications from small independent small businesses located anywhere in the city that meet eligibility requirements. Funding is limited and there is no guarantee of receiving a grant. Businesses can learn more about the eligibility requirements, funding priorities and how to apply online.
Application Deadline for businesses impacted by the temporary closure of I-95: Wednesday, July 12 at 11:59 p.m. To be fair and equitable in making decisions, all applications will be reviewed after the filing deadline. Businesses are encouraged to provide evidence of loss of income (e.g. a profit and loss statement comparing typical sales to the same period last year and/or in the weeks immediately prior to the highway closure).
Apply for a low interest emergency loan
Governor Josh Shapiro has announced that the The U.S. Small Business Administration (SBA) has issued an administrative declaration of disaster for the businesses affected by the collapse of I-95 in Philadelphia. The SBAsDisaster for economic damage(EIDL) program offers low-interest loans for small businesses, small agricultural cooperatives, and most private non-profit organizations.
The SBA can provide up to $2 million to help businesses meet financial obligations and operating expenses that could have been met had the disaster not occurred. The SBA tailors the repayment of each emergency loan to the borrower’s financial strength.
Loan applications will be available online or by mail. Learn more about low interest SBA loans and the application process. The deadline for submitting applications is March 24, 2024.
We’re here to help
SBA will open a Business Recovery Center (BRC) at the Philadelphia Fire Department, Engine 38s training facility, on Friday, July 7 at 11 a.m. Businesses visiting the BRC are advised to park along Keystone Street away from the fire truck areas.
At the moment the opening hours of the center are:
- Monday-Friday, 9:00 AM – 6:00 PM
- Saturday, 10:00 am 2:00 pm
- Closed on Sundays.
If business owners have questions or concerns, they can contact the Philadelphia Department of Commerce Office of Business Services by calling (215) 683-2100 or emailing [email protected]. Commerce’s business service providers speak many languages and provide one-on-one support, training, outreach, and mentoring. The team will remain in the field to meet with local businesses affected by the temporary closure of I-95 and provide one-on-one assistance.
The Department of Commerce is also encouraging residents to shop small and supporting businesses in the area affected by the temporary closure of I-95. Businesses are open in the area and in the city. Every local dollar can make a lasting impact on the lives of entrepreneurs and their families. Neighborhood businesses provide jobs, goods and services for residents.
Are you a Philadelphia business and want to learn more about how to prepare for emergencies like this? Checking out six tips for emergency preparedness for your business Now and in the future. We’re here to help you thrive.
Helping businesses recover, grow and thrive with resources. Find out how the Department of Commerce can support your business.
|
Sources 2/ https://www.phila.gov/2023-07-05-financial-assistance-for-businesses-impacted-by-the-i-95-temporary-closure-in-northeast-philadelphia/ The mention sources can contact us to remove/changing this article |
[ad_2]