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Announcements

New $28.6 Billion SBA Grant Program for Restaurants Opens

The U.S. Small Business Administration is scheduled to open applications on Monday, May 3, 2021 at noon for the new Restaurant Revitalization Fund. The online application will remain open to any eligible establishment until all funds are exhausted. More information, including how businesses can create a registration account for the new Fund is available at sba.gov/restaurants.

Established under the American Rescue Plan, the Restaurant Revitalization Fund provides a total of $28.6 billion in direct relief funds to restaurants and other hard-hit food establishments that have experienced economic distress and significant operational losses due to the COVID-19 pandemic. This program will provide restaurants with funding equal to their pandemic-related revenue loss up to $10 million per business and no more than $5 million per physical location. Funds must be used for allowable expenses by March 11, 2023.

PPP Application Deadline Extended to May 31

The deadline for the federal Paycheck Protection Program has been extended from March 31 to May 31, 2021. Businesses that did not receive funding from the program last year are given first priority, but all businesses that employ 0-300 people, including sole-proprietors, are eligible to apply; this includes businesses that received PPP loans in 2020. Learn more about how to apply.

New Grant Program for Select Philadelphia Hair Care Businesses

The Salons and Barbershop Emergency Relief (SABER) Grant Program is a new $1 million fund created by the Office of Community Empowerment and Opportunity (CEO) to support a limited number of businesses in the hair care industry severely impacted by the COVID-19 pandemic.

Due to the limited amount of funds available, this is a targeted and specific grant opportunity for Philadelphia salons and barbershops. It is not open to the broader business community; it is invitation-only.

Learn more, including how businesses were selected.

Get Virtual One-on-One Assistance from the Office of Business Services

Beginning in March, the Department of Commerce’s Office of Business Services is launching “Zoom With Us,” virtual one-on-one business support sessions to help Philadelphia businesses plan, launch, manage, and grow.

Learn more and register for an open session!

The Office of Business Services helps business owners navigate City services, understand business regulations, as well as assist entrepreneurs through the process of opening, operating, and growing a business in Philadelphia. They can be reached at business@phila.gov.


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