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PIDC’s Restart PHL Loan Program for Small Businesses

PIDC is offering 0% interest loans for Philadelphia small businesses. Find all the details below:


Funds will be targeted to Historically Disadvantaged Businesses (at least 50% of loans to be awarded) and businesses located in high-poverty and/or low-moderate income communities.

  • Small businesses with less than $5 million in annual revenue
  • Historically disadvantaged ownership OR Business located in low income community*

* 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 financial products.


Working capital, inventory, technology upgrades, mobilization, re-hiring and employee training.


$25,000 – $250,000

Repayment Terms

  • 0% interest rate
  • Up to 5-year term
  • Up to 10-year amortization options
  • No prepayment penalty


All fees to be paid at closing:

  • $250-$500 Application fee (based on loan amount)
  • 1.5% Commitment fee
  • Standard closing, recording and legal fees


  • Senior UCC lien on equipment purchased with loan proceeds
  • Blanket lien on business assets (can be subordinated)
  • Personal guaranties from owners with > 20% ownership
  • Mortgages as available

Required Documents

Complete PIDC online application including, but not limited to, the following supplemental materials:

  • 2 years most recent tax returns (business & personal)
  • Personal Financial Statement
  • Description of hardship experienced and business reopening plans
  • Budget/detailed description of use of funds
  • Most recent 3 months of bank statements
  • Additional documents may be requested during full underwriting

    Click HERE for more information and to apply.

    (Originally sent via email Jan. 10, 2022)

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