Early-Stage Small Business Investment Awards

Get your video pitch ready! Thanks to funding from Fulton Bank, The Enterprise Center Community Development Corporation (TEC CDC) is going to distribute $220,000 in small business awards of $10,000 each, which will be accompanied by advisory services to support startup and emerging small businesses.

Interested? Please review the eligibility guidelines below, and tell us in a short video about your business and how this award will catalyze it.  Whether it's through a new oven that will double your baking capacity or a printing press that will elevate your apparel quality, this award is an opportunity to fund a productive asset that will have a lasting impact on your business. 

Businesses must meet the following eligibility requirements in order to apply for this award:

• Must be located in Philadelphia County.
• Must have annual gross revenues of no more than $200,000.  ($0-$200,000)
• Must support a revenue generating activity or opportunity or the purchase of a productive asset.
• No types of businesses that would be ineligible under TEC Capital’s or Fulton’s small business loan policies, (e.g., adult entertainment businesses, cannabis dispensaries, gas stations, establishments storing or handling hazardous materials, etc.).

AWARD TERMS AND CONDITIONS

Awardee shall maintain a complete and accurate record of the use of funds and the outcomes achieved.  Within six (6) months of receiving the funds or as otherwise requested by TEC CDC, Awardee shall complete an Impact Report on a form provided by TEC CDC and shall submit the report and any required attachments by the deadline requested.

The Impact Report may include, among other things, how the funds were used and the specific outcomes, which may include updated revenues, information on employees hired or retained, and other information about how the funds enabled the Awardee to start, stabilize and/or grow the business.  Updated financials may be required.

If any portion of the funds awarded to Awardee have not been spent prior to submitting the Impact Report, Awardee shall explain why the funds have not been spent and how Awardee plans to spend the funds, which shall be no later than one year from the award date.

If the Awardee closes its business for any reason prior to completing the Impact Report, Awardee will notify TEC CDC within ten (10) business days of such closure, and will explain the reasons for closure, providing the detail regarding how the funds were spent, and why the Awardee was unable to or chose not to stay in business despite receiving the Award.  

Awardee may be asked from time to time to consent to TEC CDC “telling Awardee’s story” as it relates to the Award on social media and through other public outreach.  Awardee agrees that such consent will not be unreasonably withheld.  

The award will be complemented by an advisory services program designed to provide small businesses with essential resources and guidance through a written plan, helping them thrive and grow.

A key element of the program is the involvement of Fulton Bank business bankers, who will enhance our financial training by offering insights into financial products and services. Their participation will also help foster a supportive community and provide valuable connections for business owners. We will offer one-on-one financial counseling sessions aimed at improving financial knowledge and skills, allowing businesses to manage their finances more effectively. In addition to the business banker, awardee will be assigned a diverse business advocate by Fulton.

Additionally, our robust business development support encompasses assistance with marketing and sales strategies and guidance on securing additional financing and investments. These services help businesses effectively reach their target markets and attract investments.

Lastly, our program focuses on enhancing operational efficiency. We offer insight on efficient business processes and training on best practices for management and operations. By improving their operational efficiency, businesses can streamline their processes, adopt new technologies, and optimize their overall performance.

Overall, our comprehensive advisory services program is designed to empower small businesses by providing them with the necessary resources and guidance, with the added expertise of Fulton Bank, to support their growth and success.

By signing and submitting an Early-Stage Investment Small Business Award submission, you acknowledge that you have reviewed, understand, and agreed to these terms and conditions.  Information on TEC CDC’s Privacy Policy may be found at www.theenterprisecenter.com/privacy-policy.

Click here to submit your materials

Completed applications (including all required attachments) must be submitted no later than 5:00pm, March 3, 2025 

If you have any questions or require any additional information, contact us at capital@theenterprisecenter.com or call at 215-895-4000.