fundsforCompanies

Stimulating Success and Sustainability

  • SUBSCRIBE FOR FREE
  • Funding Grants
  • Accelerators
  • Incubations
  • Competitions and Prizes
  • Training and Mentorship
  • Contact
Home » City of Philadelphia launches Boost Your Business Fund

City of Philadelphia launches Boost Your Business Fund

The City of Philadelphia has launched the Boost Your Business, a fund for equitable business growth. Businesses owned by people of color face unique barriers in accessing resources and opportunities, which was only worsened by the COVID-19 pandemic. Boost Your Business will provide funding to help diverse entrepreneurs in Philadelphia scale their businesses.

Sponsoring Agency: City of Philadelphia

Type of Fund: Grant

Deadline Available: Available

Deadline Date (mm/dd/yyyy): 01/31/2022

Size of the Fund: Less than USD $50,000

The City of Philadelphia has launched the Boost Your Business, a fund for equitable business growth. Businesses owned by people of color face unique barriers in accessing resources and opportunities, which was only worsened by the COVID-19 pandemic. Boost Your Business will provide funding to help diverse entrepreneurs in Philadelphia scale their businesses.

Eligible businesses will be scored on the impact and feasibility of their growth plan. Only 10 selected businesses will receive a $50,000 forgivable loan. The loan will be forgiven when the business meets its stated growth goals: new contracts, revenue, and employee growth.

10 businesses will be selected to receive a $50,000 investment in the first round, and another 10 will be selected in the second round.

Boost Your Business is a pilot program of the Department of Commerce and will be delivered in partnership with Community First Fund and VestedIn.

Eligibility Criteria
To be eligible, a business must meet all of the following requirements:
• The business owner must be a Philadelphia resident and a member of a historically disadvantaged community.*
• The business must be located in Philadelphia.
• The business must have been in operation for 3+ years.
• The business must have annual revenue of $350,000 or more.
• The business must have Philadelphia Business Income and Receipts Tax Number (BIRT) and Commercial Activity License (CAL).
• The business must be independently owned; franchises are eligible only if independently owned.
• The business is in compliance with all local, state, and federal taxes (or on an approved payment plan or in the process of getting on an approved payment plan).
• The business has required federal, state, and local licenses and permits to legally operate.
*Historically disadvantaged businesses are at least 51% owned and operated by persons who are Black, Hispanic, Native American, Asian American, or Pacific Islander because they have traditionally been discriminated against and disadvantaged when seeking financial services and products.

Required Documents
• Business Growth Plan.
• 2 years of federal tax return (2019 & 2020).
• 12 months revenue & expenses year to date.
• 12 months of income & expense projection assuming funding received.

More information at: https://www.phila.gov/2021-11-22-city-launches-boost-your-business-fund/

Eligible Countries:
United States

Business Categories:
Entrepreneurship and Innovation, Business

ALI Regional Leadership Center East Africa Cohorts 43, 44 & 45

Forbes Asia 100 to Watch – Nominations Now Open!

Catalyst Fund: Big, Bold Ideas for a Better Future

Giving Joy announces Micro Grants for Women

Victorian Manufacturing Hall of Fame Awards (Australia)

eBay Up & Running Grants Program in the United States

digitalundivided: BIG Pre Accelerator Program for Latina and Black women Entrepreneurs

New Jersey Immigrant Entrepreneur Awards now open for Nominations

NE-DBIC launches Dairy Marketing and Branding Services Grant Program (US)

Pflugerville Cares Small Business Grant Program – United States

City of Cambridge Small Business Relief Grant – United States

U.S. Chamber of Commerce Dream Big Awards 2022

Driving Small Business Forward Grant Program in the United States

Nominations now open for Climate Choices Business Awards (Australia)

Entrepreneur E-Business Awards 2022: Recognizing the MENA’s Leading E-business Community

Campaspe Murray Business Excellence Awards (UK)

Rapid Applications for Transport (RAPTOR) Pilot 2

City RAPTOR 2022 Competition for Start-ups or SMEs

Apply for BSV Blockchain Incubator Programme

Applications Open for The Global Scale-Up Programme 2.0

Boldbrain Accelerator Program for Early Stage Startups in Switzerland

Edison™ Accelerator Program for Canadian Healthcare Startups

Hacker Lab seeking Applications for Pathways Program 2022 (US)

Texas Woman’s University launches Veteran Woman Entrepreneur Grant Program (US)

COVID-19 Microbusiness Relief Grants in the US

Value Add Investment Grants in Australia

Earth Observation for the Northern Territory (EO4NT) Grant Program in Australia

Bay County Small Business Grant Program (US)

VeniSIA’s Second Acceleration Program in Italy

Developing a Business Case for Investing In Workforce Nutrition Programmes

ALI Regional Leadership Center East Africa Cohorts 43, 44 & 45

Forbes Asia 100 to Watch – Nominations Now Open!

Catalyst Fund: Big, Bold Ideas for a Better Future

Giving Joy announces Micro Grants for Women

Victorian Manufacturing Hall of Fame Awards (Australia)

eBay Up & Running Grants Program in the United States

digitalundivided: BIG Pre Accelerator Program for Latina and Black women Entrepreneurs

New Jersey Immigrant Entrepreneur Awards now open for Nominations

NE-DBIC launches Dairy Marketing and Branding Services Grant Program (US)

Pflugerville Cares Small Business Grant Program – United States

City of Cambridge Small Business Relief Grant – United States

U.S. Chamber of Commerce Dream Big Awards 2022

Driving Small Business Forward Grant Program in the United States

Nominations now open for Climate Choices Business Awards (Australia)

Entrepreneur E-Business Awards 2022: Recognizing the MENA’s Leading E-business Community

Campaspe Murray Business Excellence Awards (UK)

Rapid Applications for Transport (RAPTOR) Pilot 2

City RAPTOR 2022 Competition for Start-ups or SMEs

Apply for BSV Blockchain Incubator Programme

Applications Open for The Global Scale-Up Programme 2.0

Boldbrain Accelerator Program for Early Stage Startups in Switzerland

Edison™ Accelerator Program for Canadian Healthcare Startups

Hacker Lab seeking Applications for Pathways Program 2022 (US)

Texas Woman’s University launches Veteran Woman Entrepreneur Grant Program (US)

COVID-19 Microbusiness Relief Grants in the US

Value Add Investment Grants in Australia

Earth Observation for the Northern Territory (EO4NT) Grant Program in Australia

Bay County Small Business Grant Program (US)

VeniSIA’s Second Acceleration Program in Italy

Developing a Business Case for Investing In Workforce Nutrition Programmes

© FUNDSFORNGOS. All rights reserved. FUNDSFORNGOS LLC

Unless otherwise specified, this website is not affiliated to any of the organizations mentioned above in any manner. The material provided here is solely for informational purposes only without any warranty. Visitors are advised to use it at their own discretion. Privacy Policy.