Commercial Real Estate Acquisition Loan (CREAL) Program

Funding small businesses to purchase commercial property or real estate.

About

The Commercial Real Estate Acquisition Loan (CREAL) Program helps small businesses in low- and moderate-income areas buy property. The program promotes asset ownership and helps build generational wealth among business owners.

Participants can receive:

A mortgage loan of up to $350,000.
A grant of up to $35,000 for closing costs.

Business owners can use the funds to buy property on an eligible commercial corridor. The program will also provide technical assistance to businesses throughout the purchase process.

The Commercial Real Estate Acquisition Loan Program is a program of the Department of Commerce.

Connect

Address	1515 Arch St. 12th Floor Philadelphia, PA 19102
Email	CREAL@phila.gov
Phone	Phone: (215) 683-2053

Announcements

Announcement

Department of Commerce warns business owners of phishing text scams

September 17, 2025

Announcement

Department of Commerce warns business owners of phishing text scams

The Department of Commerce is aware that some Philadelphia businesses have received text messages saying that they’re approved for a grant from the Catalyst Fund and to provide their banking information. The City of Philadelphia and Department of Commerce never request financial or banking information via text message.

Do not click or tap on any links or respond to these messages. Do not provide any personal information. We urge businesses and residents to report any suspicious texts as spam and delete them immediately. To learn more about how the City handles sensitive data, read the Privacy Policy.

We’re aware of other phishing scams impacting the Department of Revenue. See their announcement to learn how to stay vigilant and protect your data.

Announced on: September 17, 2025 Department of Commerce

Eligibility

The program will prioritize applicants who are unlikely to have access to existing lending resources because of financial barriers. To apply, you must:

Be a business owner with a low-to-moderate income, and/or own a business located in a low-to-moderate income community.
Have a credit score of 550 or greater.

Your business will also need to meet certain requirements. It must be:

Registered and licensed with the City.
Up to date on all City business taxes or in the process of applying for an approved tax payment agreement. While not required, you can get a tax clearance to confirm that your City of Philadelphia tax account is in good standing.

If you have any questions about your eligibility, email the program manager at CREAL@phila.gov.

How to apply

Submit the CREAL Program interest form.

To get started, submit an interest form online.

If your mortgage is greater than $350,000 (the maximum mortgage loan amount), you may still submit the interest form.

The program manager will help you complete your application.

The program manager will reach out to you within one week of receiving your interest form. They’ll work with you to complete the loan application process, including submitting:

Two years of financial statements and tax returns.
A business plan.
The sale property’s zoning information.

If you don’t have a business plan or another required document, the manager can connect you with a technical assistance provider to help complete your loan application.

Your complete application will be reviewed.

If the program manager determines you’re eligible for a loan, you’ll work with a loan officer to continue the commitment process. Do not begin work until you have received written approval from the City.

Technical assistance is available for participating business owners both before and after you purchase property.