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City of Philadelphia and PIDC Open Applications to Philadelphia COVID-19 Small Business Relief Fund

2020-03-24T15:20:39+00:00

The City of Philadelphia and the Philadelphia Industrial Development Corporation (PIDC) today launched the COVID-19 Small Business Relief Fund, a more-than-$9 million grant and loan program designed to support Philadelphia small businesses, help maintain payroll obligations, and preserve jobs impacted by the spread of the COVID-19 virus.

The Philadelphia COVID-19 Small Business Relief Fund is a tiered program providing targeted support for small businesses, which face an unprecedented challenge due to the ongoing global pandemic. The fund offers a mix of new grants and zero-interest loans for businesses that make under $5 million in annual revenue.

Click the link below for additional information on the Philadelphia COVID-19 Small Business Relief Fund:
https://www.phila.gov/2020-03-23-city-of-philadelphia-and-pidc-open-applications-to-philadelphia-covid-19-small-business-relief-fund/

Click the link below for additional information on how businesses can apply for assistance from the Philadelphia COVID-19 Small Business Relief Fund:
https://www.phila.gov/programs/philadelphia-covid-19-small-business-relief-fund/?mc_cid=e610c84755&mc_eid=701a23fa37

HBK will continue to follow developments and provide guidance and clarity surrounding COVID-19 business issues. To discuss COVID-19’s effect on your business, contact your HBK advisor.

About the Author(s)
Kevin McGinn, CPA, MST is a Senior Manager in HBK’s Blue Bell, Pennsylvania office and is a member of HBK's Tax Advisory Group. He has extensive experience in tax planning for high-net worth individuals and businesses in many industries such as distribution, manufacturing, service, and non-profit.
Hill, Barth & King LLC has prepared this material for informational purposes only. Any tax advice contained in this communication (including any attachments) is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or under any state or local tax law or (ii) promoting, marketing or recommending to another party any transaction or matter addressed herein. Please do not hesitate to contact us if you have any questions regarding the matter.

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