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Thursday, January 28, 2010

City of Philadelphia Announces 2010 Business Grants and Loans

Mayor Michael Nutter of Philadelphia has recently announced that small businesses in the Philadelphia area will soon be able to compete for more than $27 million in loans and grants. Available through stimulus-funded programs, the funds are brand new for 2010.

The funds will be allocated in the following manner:

$4.5 million will be available for gap financing for “last in” capital for shovel ready development projects;

$9 million will be available for Greenworks loan programs for energy efficiency improvements to buildings and equipment, which will be available in loans from about $100,000 to $1 million or more;

$500,000 will be available in Greenworks rebates for energy efficiency improvements to buildings and equipment, which will be available as rebates of up to $10,000; and

$13 million will be available in Recovery Zone Facility Bonds for capital projects — new construction, rehabilitation and expansion of existing facilities.

To learn more about the gap financing programs, interested ones should plan to attend a free information session on February 5th at 1pm downtown at 1500 Market St. (Centre Square West), 26th floor.

To learn more about the Greenworks rebate program, interested ones should plan to attend a free information session on February 9th at 2 pm in the Mayor’s Reception Room at City Hall.

Or more information can be accessed online at www.pidc-pa.org/DevelopmentOpportunities.asp
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