Sunday, December 1, 2013
Philadelphia Mayor Pledges to Support Small Business
The city recognizes the impact that small business has on the economic development of Philadelphia and wants to continue to help them expand and grow. One program, called The InStore Program, offers forgivable loans ranging between $15,000 and $50,000. After 5 years, the loan is forgiven. As long as small businesses comply with the guidelines for the loan, it does not have to be repaid, so it works just like a grant.
Eligible businesses include existing retail, food or other creative businesses. The money can be used to expand services or business activities, or to purchase equipment.
Small Business Saturday is another initiative by the city that encourages shoppers to buy locally. By driving more business to locally-owned shops and restaurants, small business is able to grow and the neighborhoods benefit by becoming more popular areas to shop, eat and drink.
For more information, visit