Philadelphia Boost Your Business Program
City of Philadelphia Department of Commerce
$50,000 (forgivable loan)
$50K forgivable loan + coaching for 20 Philadelphia businesses; deadline Aug 31, 2026.
The City of Philadelphia Department of Commerce, in partnership with PIDC, offers the Boost Your Business Program to help established Philadelphia businesses grow, obtain City contracts, increase revenue, and create jobs. The program selects 20 businesses to receive a $50,000 forgivable loan and participate in group support sessions and one-on-one coaching. The loan is forgiven once each business attends all sessions and achieves its stated growth goals after one year.
- Funding type
- Grant
- Level
- Municipal
- Amount range
- $50,000 – $50,000
- Realistic amount
- $50,000 fixed forgivable loan per selected business.
- Deadline
- August 31, 2026
- Status
- active
- States
- PA
Who qualifies
- Located in Philadelphia
- Annual revenue of $350,000 or more
- In operation for 2 or more years
- Have a City of Philadelphia Commercial Activity License (CAL)
- Independently owned; franchises eligible only if independently owned
- In compliance with all local, state, and federal taxes, licenses, and permits (or on an approved payment plan)
- Have a clear budget and growth plan that will lead to increased contracts, revenue, and/or employees
Who is not eligible
- Businesses located outside Philadelphia
- Businesses with annual revenue below $350,000
- Businesses in operation fewer than 2 years
- Franchises that are not independently owned
- Businesses without a valid Philadelphia Commercial Activity License
- Businesses not current on taxes or required licenses/permits
What it covers
Eligible expenses
- Growth plan implementation
- City contract pursuit
- Revenue growth activities
- Hiring and workforce expansion
Ineligible expenses
- Expenses not tied to the approved growth plan
How to apply
-
1
Review eligibility and attend information session
Confirm the business meets revenue, location, and licensing requirements. Register for the optional hybrid information session held with PIDC.
~1.5 hrs
-
2
Prepare growth plan and financial documents
Draft a Business Growth Plan, 2026 and 2027 operating projections, year-to-date 2026 P&L and balance sheet, and gather 2024 and 2025 federal business tax returns.
~8 hrs
-
3
Compile supporting documents
Collect debt schedule, credit authorization for owners with 20% or greater interest, government-issued ID, CAL, and entity formation documents.
~2 hrs
-
4
Submit application by August 31, 2026
Complete and submit the online Boost Your Business application before the deadline.
~1.5 hrs
Tie the growth plan directly to City contracts or measurable revenue/hiring milestones; the cohort and coaching components are mandatory for forgiveness.
Required documents
- Business Growth Plan
- 2026 and 2027 operating projections
- Year-to-date 2026 management-prepared profit and loss statement and balance sheet
- 2024 and 2025 federal business tax returns
- Debt schedule
- Credit authorization form for all owners with 20% or greater interest
- Copy of government-issued photo ID
- Philadelphia Commercial Activity License
- Certificate of organization, articles of incorporation, or similar entity formation documents
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