The Department of Commerce’s InStore Forgivable Loan Program helps eligible small retail, food, and selected personal service businesses purchase equipment and make interior improvements in their store. The program approves a limited number of projects each year for forgivable loans worth between $50,000 to $100,000.
It is only available to projects that will provide affordable goods and services and increase business activity along an eligible neighborhood commercial corridor. Small businesses can receive a forgivable loan with no interest or payment required on the loan for five years. The loan is forgiven after five years, provided the business remains open at the same location.
Business testimonial
To highlight program impact, we spoke with one of our recipients, Angela Wolf Quaintance, owner-operator of Angela Wolf Video, a corporate video production company in Philadelphia offering videography, video editing, photography, and podcast production. The business was awarded $42,000 through the Instore Forgivable Loan Program (Note: this award was provided prior to establishing the standardized $50,000 minimum threshold).
With the loan, Angela Wolf Quaintance was able to purchase the necessary equipment and improvements she needed to operate after her move from an in-home business to a storefront in South Philadelphia. Featured visuals throughout the blog post highlight business upgrades funded by the InStore Forgivable Loan program, showing before-and-after photos of enhancements like new storage cabinets, lighting equipment, and organizing bins.
Hear from Angela Wolf Quaintance (AWQ) about her business journey and how she used the funds to grow:
How did your business start and how has it transformed over the years?
AWQ: I started Angela Wolf Video out of my home in 2016. This November [2026] will be our 10-year anniversary! My business grew to the point where I needed a professional space that I could bring clients to for filming, photoshoots, and live editing. In 2023, I acquired the commercial space, but it was far from what I needed. Thanks to the InStore [Forgivable] Loan, I was able to outfit the space with all of the video and photo equipment I needed. I officially opened the studio in February 2024. At the time, I was a one-woman show. Now, I have a full-time employee who works in the studio with me.
Which Department of Commerce programs did you receive to support your business, and what led you to apply for them?
AWQ: I was awarded the InStore Forgivable Loan and the Storefront Improvement [Program] grant. The InStore Forgivable Loan was used to purchase editing computers, office desks, lighting equipment, podcasting gear, and secure equipment cabinets. Opening a studio space meant I would be able to offer new services, but all of those services require specialized equipment. I knew the InStore Forgivable Loan was the right choice because without purchasing new equipment, the space would not be usable. With all of the costs it took to acquire the space, I did not have any money left over for the equipment to make it usable. The Storefront Improvement [Program] grant was used to replace the front door, which was old and did not properly lock.
What differences have you seen in your business since the purchase of equipment and/or improvements?
AWQ: Because of the InStore [Forgivable Loan] Program, I was able to open my studio with a full range of services. Within six months of purchasing the studio equipment through the InStore [Forgivable Loan] Program, I secured a seasonal contract with Spotify to film their weekly football podcast in my studio. That contract had been my largest client, and largest single contract, to date. They specifically were looking for a Philadelphia-based video studio that was fully equipped with lighting and audio equipment. Thanks to the InStore [Forgivable Loan] Program, I had everything they needed.
Were there specific people or local organizations that were helpful throughout the application process?
AWQ: I secured my commercial property through PIDC. They were the ones who first told me about the InStore [Forgivable Loan] Program, and they wrote a letter on my behalf for the program. I also work with SEAMAAC as part of the South 7th Street Corridor. Of course, Miaya Darby [from the Department of Commerce] took me through the entire process, which was very long and very involved. She did a great job helping me get from the initial application to the final loan disbursement.
What would you say to a business owner who is interested in applying to the InStore Forgivable Loan Program? What did you learn about the process?
AWQ: My number one recommendation is to apply. My second recommendation is to have patience. It is a long process, and it can be confusing, but I promise, it is absolutely worth it. There has not been a single day that I don’t use multiple pieces of equipment that I purchased through the program. Be thoughtful in what you ask for and really plan out exactly what your needs will be in the next five years. Use this as an opportunity to get what your business will need in order to hit the next milestone.
Interested in the InStore Forgivable Loan Program?
Your store could be next! We’re here to assist. Follow these steps to get started:
- Search your property for eligibility using the eligibility tool.
- Submit a pre-application.
- Attend a pre-application meeting with the program manager.
For help, please contact the InStore Forgivable Loan Program manager by emailing InStore@phila.gov, or reach out to the Mayor’s Business Action Team by calling 215-683-2100.
