COVID 19: Financial Support for your Business

//COVID 19: Financial Support for your Business

COVID 19: Financial Support for your Business

In the midst of the COVID-19 outbreak, the entire North Broad Renaissance (NBR) staff hopes that you are all staying safe and healthy as you manage this major adjustment to your day-to-day life.

The federal, state and city all are working on relief packages that could assist businesses and employees during this uncertain time. Below is a list of recent announcements.

As the NBR receives information, we will work to keep you updated and informed.

The Philadelphia Foundation PHL COVID-19 Fund

Community organizations providing support to our most vulnerable neighbors are facing unprecedented strain on their resources with COVID-19. The PHL COVID-19 Fund will rapidly and equitably deploy solutions and resources to help our nonprofit community navigate near-and longer-term challenges from COVID-19 and ensure that critical resources remain available for those in our community who need it most.

Learn more here.

Beech Companies Assisting Local Non-Profits

Beech will make contributions to various non-profit organizations providing urgent services in the City of Philadelphia. Also, as a reminder to all non-profits and small businesses, Beech does offer lines of credit to non-profit organizations under the non-profit fund and small businesses through the Beech Business Bank.

Learn more here.

The SBA’s COVID-19 disaster loan

On March 12, 2020, the SBA announced that it’s offering up to $2 million to each small business impacted by the novel coronavirus, or COVID-19. This offer is part of the Coronavirus Preparedness and Response Supplemental Appropriations Act.

Per the SBA, the loan is designed to cover “fixed debts, payroll, accounts payable and other bills that can’t be paid because of the disaster’s impact.”

Learn more here.

Waiver and Clarification: Non-Life-Sustaining Business Closure Order

Effective at 8:00 p.m. March 19, Pennsylvania Governor Tom Wolf issued an order regarding the closure of all non-life sustaining businesses in the Commonwealth.
View a list of businesses impacted by the closure »

We understand there may be confusion and a need for clarity in the business community regarding what’s considered a “life-sustaining” business.

The Department of Community and Economic Protection asks businesses with questions as to whether their organization needs to close to contact:

Any business interested in seeking a waiver to the order can reach out to Pennsylvania directly: or call 1-877-PA-HEALTH and select option 1.

This situation is changing quickly. Stay up to date on how this outbreak will affect you by visiting the City of Philadelphia’s website and the Pennsylvania State government website.

2020-03-23T18:36:01-04:00March 23rd, 2020|Uncategorized|Comments Off on COVID 19: Financial Support for your Business

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