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Starting a Business
Finance and Incentives
Brokers

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Financial Assistance for Retailers in Philadelphia
Through a combination of loan, grant, tax credit, and non-financial programs, the City of Philadelphia and cooperating partners offer a wide variety of economic development financing, incentives, and support for new and expanding
retail businesses.
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retail

Key Alternative Lenders Serving Philadelphia
The following list highlights key alternative lenders serving Philadelphia. While individual capabilities and geographies served may differ, they all serve small businesses and understand the unique needs associated with starting up a new retail business or restaurant. For additional information on these lenders, click on the lender website.


Lender General Info Contact Typical Loan Size Loan Use
Financial and
Technical
Assistance
Center "FINANTA"
  • Non-profit lending corporation
  • CDFI
  • Provides capital, technical assistance, & business consultation services
  • Bilingual (Spanish)
 Luis Mora
(267)236.7000
www.asfsc.org		 $400k - $2.5m
  • Real estate acquisition
  • Purchase of equipment
  • Inventory
  • Working capital
  • Start-up financing
Beech Capital Venture Corp: Beech Business Bank
  • Makes loans with a primary focus on economically distressed areas in Philadelphia
  • Encourages participation by banks & VCs in the financing of businesses & CDCs
  • CDFI
 Larry Griffin
(215)763.8825
www.beechinterplex.
com/companies/bvc.htm		 $5,000 - $100,000 Activities related to:
  • the creation or expansion of businesses
  • the creation and/or retention of jobs
  • the construction or renovation of commercial real estate or residential properties
Business Builder Program (GPUAC & 6 national banks)
  • Program run by GPUAC & 6 banks
  • Borrower contacts GPUAC
  • GPUAC refer borrower to a technical assistance provider
  • After completing TA, the borrower may approach any participating bank
  • Eligibility: business in operation +6 months w/ ann. revenues less than $1M, located in Phila; min credit score 630; business must be located in area that is predominately low/mod income OR minority (you can still apply if your credit score is lower than 630)
  • Banks: Beneficial Savings, Citizens Bank, TD Bank, PNC Bank, United Bank, and Wachovia
 Rachel Moore at GPUAC
(215)851.1847
www.gpuac.org/programs/
phillybusinessbuilder.htm		 Max $50,000
  • Working capital
  • Lines of credit
  • Equip. purchase
  • Capital improvements
Impact Services Corporation
  • Improve access to capital for small area businesses & stimulate job growth
  • CDFI
  • Serving 27 census tracts in NE Phila
  • Must create/retain jobs, new enterprises or improve the overall business enviro. in the Investment Area to qualify for financing
 Ed Blaney &
John MacDonald
(215)739.1600
www.impactservices.org		 $3,000 - $100,000
  • Working capital
  • Machinery & equip.
  • Renovation
North Philadelphia Financial Partnership
  • Federally certified Community Lending Institution
  • Target Area: North Central Philadelphia Empowerment Zone (currently expanding)
  • All start-up & existing commercial businesses that wish to operate in target area may qualify
  • Provides accessible capital, technical support, and financial services
 Margaret Cobb (215)232.0516
www.npfp.org		 $5,000 - $1.5M
  • Acquisition of real estate
  • Renovation
Philadelphia Development Partnership
  • Region’s largest provider of micro enterprise development services
  • Offices in Phila & Chester
  • Works w/ + 400 entrepreneurs per year
  • Majority of clients are start-ups
  • Offer loan products, business development services, 1-on-1 technical assistance, business training & networking opp.
  • Some loan products tailored to Muslim community
 Leslie Benoliel &
Earl Boyd
(215)545.3100 x223
www.pdp-inc.org		 $500 - $25,000 Varies
West Philadelphia Financial Services Institution
  • Current lending capabilities are limited; however, they are interested in expanding
  • Main target area: West Phila Empowerment Zone
 James Burnett (215)452.0100
www.wpfsi.com		 Varies
  • Acquisition of real estate
  • Renovation & improvements
  • Commercial loans (would like to expand this use)
Women's Opportunities Resource Center
  • Provides entrepreneurial training, individual business assistance, incentive savings programs, and access to capital
  • Promote social & economic self-sufficiency primarily for economically disadvantaged women & their families
  • CDFI
  • Target businesses looking to start or expand, special focus on women & minorities
 Lynne Cutler & Barbara
Ann Gardenhire-Mills (215)564.5500
www.worc-pa.com		 $500 - $35,000
  • Limited real estate
  • Working capital
  • Machinery & equip.
  • Marketing
  • Lines of credit
  • Equity







head-contact

Michelle Shannon, SCMD
Center City District
660 Chestnut Street
Philadelphia, PA 19106
Phone: 215.440.5515
E-mail: michelle@centercityphila.org