Grow your business with a simplified loan application process!
The Philadelphia Business Lending Network (PBLN) is a service that allows business owners to express interest in loans to a group of nonprofit lenders, for-profit lenders, and other funders with one form. There is no cost to submit a loan interest form. The only eligibility requirement for sharing a completed form with a lender is that the business must be located in Philadelphia.
This service is not a loan application and does not guarantee approval from a network lender. PBLN was created to help businesses save time by contacting multiple lenders at once. If your project and capital needs match available resources, a network lender will contact your business directly to request more information.
Philadelphia Business Lending Network Department of Commerce We partner with PBLN lenders to help local businesses thrive by leveraging innovative economic opportunities.
Equity incentives begin!
Philadelphia thrives when economic opportunity is available to all. Historically disadvantaged business owners have experienced structural difficulties in securing loans and traditional investment capital from financial institutions. To alleviate this challenge, the Department of Commerce is proud to partner with the City Council to expand the Philadelphia Business Lending Network Servicing Program to include an equity incentive component with eligible eligibility requirements.
The Philadelphia Business Network Incentive Grants is a pilot program offering grants for the following: to $35,000, up to 50% of the approved loan amount Grants are awarded to qualifying businesses by network lenders, and the grant amount is attached directly to the business's loan agreement.
Philadelphia Business Lending Network Incentive Grants are funded by the Neighborhood Preservation Initiative (NPI), a $400 million citywide investment created by City Council law to support programs that benefit neighborhoods and their residents. The Philadelphia Department of Commerce has been allocated $3.8 million in the first year of NPI revenues (with a projected $15.2 million over four years) to expand equitable wealth-building opportunities through neighborhood small business programs.
Eligibility Requirements
To be eligible for the Philadelphia Business Loan Incentive, a business must meet the following eligibility requirements:
- The owners are Philadelphia residents and members of historically disadvantaged communities. A historically disadvantaged business is one that is at least 51% owned by individuals who have been subject to racial or ethnic prejudice or cultural bias within American society because of their identity as members of a group, regardless of their personal qualities, and whose disadvantage stems from circumstances beyond their control.
- Located in the City of Philadelphia and have all required licenses and permits from the City of Philadelphia.
- Annual revenue below $250,000
- The business must be a small business (five or fewer employees, including the owner)
- Be in compliance with City of Philadelphia taxes (or be on an approved payment plan or in the process of coming on an approved payment plan).
The goal is to expand access to capital for historically disadvantaged small businesses so they can get the financing they need to start, grow, and sustain their operations. For more information, see the application below.
How to Apply
Complete a loan interest form online to connect with over 35 lenders
Questions? Email us Loan.Info@Phila.Gov
*This form is not a loan application and does not guarantee approval from a network member. If one of our members is interested in working with you, they will contact you directly for more information. If the loan is approved and your business is eligible for a grant, the lender will work with the Department of Commerce to ensure approval.
