PPP (Payroll Protection Program) NEW RULES!!

Small Business Owners: What You Need To Know About The New PPP Rules
Morgan Simon, Forbes

Are you a small business owner, working on your own or with less than 20 employees? Do you have student debt, a felony record, or are you a Green Card holder? The Biden administration announced five major changes in the Payroll Protection Program this week, which could make a big difference in making sure your application reaches the front of the line this time around.

Here are the updates:
1. Less restrictions on formerly incarcerated small business owners
2. More access for immigrant business owners
3. No more penalizing business owners with student loans
4. Two-week focus period for business owners with less than 20 employees
5. No more restrictions on business owners without a payroll

Read here for details.

Check out this guide for first-time applicants.

Resources for businesses

Find services and support for businesses in Philadelphia here.
In the neighborhood:

• Finanta
  1301 N. 2nd Street, Philadelphia, PA 19122 | 267-236-7000
  finanta@finanta.org, |http://finanta.org/
  Services offered: Classes & workshops, Funding, Growing your business, Running a business, Starting a business

• NextFab North,
  1227 N. 4th Street, Philadelphia, PA 19122 | 215-921-3649
  info@nextfab.com
  https://nextfab.com/contact/, | https://nextfab.com/location/north-philadelphia/
  Services offered: Classes & workshops, Funding, Product development, Starting a business

PA 30 Day Fund is Back Open!The PA 30 Day Fund is back! Once again, loans up to $3,000 are available for Pennsylvania business with 3 to 30 employees. No repayment is required. The fund promises a quick and easy application with rapid processing time, and any voluntary repayments will be passed on to other businesses in need.

Apply now and more details here.

Small Business Survey & Funding

SAFE REOPENING BUSINESS SURVEY
We want to hear from business owners in the Philadelphia region about the resources needed to reopen safely. The purpose of this survey is to assess the needs of businesses in the Greater Philadelphia region in order to help the City develop guidance and resources to help you safely and speedily reopen after the COVID-19 business closures.
TAKE THE SURVEY

---

PA SMALL BUSINESS GRANTS
Recently, Governor Tom Wolf announced a $225M statewide grant program to support small businesses that were impacted by the COVID-19 public health crisis and subsequent business closure order.
At this time, program details are still in development. The PA CDFI Network is currently working with the PA Department of Community and Economic Development in support of program implementation. Visit our central informational website to learn more about the program and the CDFIs deploying the grants and sign up for the mailing list to be notified when the application phase is opening. Applications are not being accepted at this time.
LEARN MORE

---

RESTART PHL LOAN FUND
This loan program provides flexible low-cost capital to small businesses with less than $5M in revenue for costs associated with improved business resilience or growth, including working capital, fit-up, inventory, technology, mobilization, re-hiring, and employee training.
The fund is targeted to historically disadvantaged communities with a specific focus on minority, women, and immigrant-owned businesses located on commercial corridors in low-income areas. The loan application and additional program details will be released soon.
LEARN MORE

---

RESTORE & REOPEN GRANT PROGRAM
The City of Philadelphia Department of Commerce recently announced $1.4 million in initial funding for businesses in historically disadvantaged communities that experienced damage or inventory loss from the recent civil unrest to cover expenses needed to recover and reopen. This program is being administered by The Merchants Fund. Program details and guidelines are still being developed. Application, guidelines, and eligibility will be posted on the Merchants Fund website once available.
LEARN MORE

---

THE PA 30 DAY FUND
The Pennsylvania 30 Day Fund recently announced that it will deploy at least $100,000 for diverse small businesses who have suffered loss due to property damage and looting. The nonprofit organization provides $3,000 forgivable loans to small businesses owners who complete a simple application and submit a video. The Fund launched on May 7, 2020, and has already funded over 70 companies, including 36 minority-owned small businesses, impacted by COVID-19. APPLY FOR PA 30 DAY FUND

PHILLY BUSINESSES AFFECTED BY THE RIOTING ARE ELIGIBLE...

Philadelphia Community Corps emphatically supports the peaceful #BlackLivesMatter protests. It goes without saying that we wouldn't do what we do if we didn't believe Black Lives Matter. Most of the job trainees in our deconstruction workforce development program are black citizens returning from incarceration, or otherwise at-risk. We listen to their stories. We believe them. We know how bad the need for reform is, and we've made it our organization's mission to help our trainees find rewarding employment, so that they'll be able to live safe and happy lives.

Unfortunately, some opportunists with ulterior motives took advantage of the recent protests to riot and loot local businesses. Philadelphia Community Corps wants to also make sure we support the small businesses affected by any rioting, so we're giving any business that need building materials to repair their stores a $200 eCoupon to our building material reuse center, Philly Reclaim.

At Philly Reclaim, these businesses can find doors, windows, tile, paint, lumber, bricks, furniture, art, hardware, tools, plumbing fixtures, lights, etc. Whatever they need to rebuild.

And anyone who has been to Philly Reclaim knows that with our prices $200 can get you quite a lot here!

ONLY BUSINESSES AFFECTED BY THE RIOTING ARE ELIGIBLE

This is effectively an honor system. If you tell us your business was affected by the rioting we'll believe you and be happy to help you find what you need!

Philly Reclaim always provides affordable materials, and recently gave away over $22,000 in building materials through an eCoupon to help people get the materials they needed to work on home improvements projects while stuck at home on Coronavirus lockdown, but this eCoupon is strictly for victims of any rioting.

The reward expires on July 05, 2020. No cash value. Not transferable. In-store only.
May be canceled at any time.

PHILLY RECLAIM
5200 Unruh Avenue, Section J, Philadelphia, PA, 19135