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Sunday, April 21, 2013

Philadelphia Foundation Committed to Helping Local Merchants with Grants

The Merchants FundThe Merchants Fund is a non-profit organization that was founded in 1854 to support local merchants in Philadelphia. Five percent of its annual assets are distributed in the form of grants to help small local businesses who are facing financial hardship.

The grant awards are called Stabilization Grants. Small enterprises who have been in business at least three years may apply for grants up to $10,000. The business owner must be the sole proprietor of a business that represents their sole source of income. Small businesses who apply must be established businesses who are stable but have been hit hard by the economy and need financial assistance to get back on their feet.

Businesses must be located in Philadelphia. The grant money can be used for purposes that include but are not limited to computer systems and technology, equipment and materials, building improvements, marketing, signage, and other business-related needs. In addition to the grants, the organization also offers Business Matching Loan Grants between $1,000 and $20,000.

The grants are competitive and grant applications are generally submitted in February. The organization is located in Philadelphia and provides other services to Philadelphia area merchants, including free consulting services, business consulting services for minority entrepreneurs, and resources for immigrant owned businesses.

For more information, visit www.merchantsfund.org/grant-areas.html
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