West Philadelphia Small Business Resilience Fund
The West Philadelphia Small Business Resilience Fund was created to support West Philadelphia businesses experiencing significant financial losses and business disruption as a result of the COVID-19 pandemic and recent uprisings.
The Resilience Fund intends to fund loans up to $50,000 per small business for job retention and working capital needs.
Eligibility Criteria
To be eligible for this funding, small businesses must:
- Be a business located in West Philadelphia zip code: 19104, 19131, 19139, 19143 and 19151
- Minimum of 6 months in operations prior to COVID-19 pandemic
- Have at least 1 employee (self-employed qualifies with a 1099 statement)
- Active general liability insurance
- No bankruptcies in the past 12 months or foreclosures in the past 24 months
- Must prepare business recovery plan within 30 days of funding
- Other criteria may apply
Loan Rates, Fees, and Terms
- 0% interest rate
- No payments for 6 months
- Loan terms up to 3 years
- No prepayment penalty
- No closing costs except for collateral filing fees
Before applying, Business owners should gather the following core documents:
- 2020 & 2021 Signed Tax Returns
- 2021 Financial Statements
- 2022 Interim Financial Statements
- Proof of Insurance
- Schedule of Liabilities
West Philadelphia Resilience Fund Partners
Success Stories
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Working with the MBE Equity Multiplier team has been life changing. I cannot recommend this service more - I'm still mind blown by how much better our pitch has become.
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Success Stories
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The $14,000 working capital funding will be used to formalize registration as a home care provider and hire initial staff.
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I highly recommend the Enterprise Center and MBDA to diverse founders who are seeking capital to scale their businesses.
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The Enterprise Center’s Dorrance H. Hamilton Center for Culinary Enterprises (CCE),is a great community to be a part of.
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Remaining competitive in the current marketplace often requires access to capital at key moments in our business.
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Success Stories
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I hope that when it all opens up that everybody goes out and supports our small businesses.
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Success Stories
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The CCE has been a helpful place to get questions answered when dealing with the city, how to create recipes, so we can be more consistent, create a budget, and best of all having other ‘foodprenueurs’ to meet and gain ideas and support in their endeavors.
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Success Stories
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When I discovered the MBE Equity Multiplier, I knew it was the missing component that would help make my vision clear. This process has equipped me and given me the confidence to push my vision forward to make it a reality.
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Success Stories
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As my business moves to the next level, leadership training, and management support that the Enterprise Center provides are keys to achieving greater sales and more contracts.
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Success Stories
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When they’re given easy opportunities to serve, our citizens really step up.
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Success Stories
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When we first started with The Enterprise Center Capital Corporation, we had maybe 6 or 7 accounts, and we've doubled that now. The Enterprise Center Capital Corporation has been very helpful funding my larger jobs and assisting me with maintaining payroll and buying equipment.
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