The coronavirus pandemic has turned things ugly for the U.S. economy. A huge lifesaver is ready for the city. PIDC has money for small business owners in the field of hospitality. The application period closes April 12.
Philadelphia Industrial Development Corporation (PIDC) has $17 million to distribute in Philadelphia to businesses with NAICS code 721 or 722, one of the business areas hardest hit by the coronavirus pandemic. By simply filling out the application and submitting three documents, a “small business assistance” of $5,000 to $50,000 could help those working in hospitality get out of the ditch.
Kersy Azócar manages the COVID-19 Hospitality Industry Recovery Program (CHIRP). It is non-refundable state money whose mission is to help revive this crucial part of the economy.
CHIRP´s project manager is sending the message to the largest number of Latino small business owners. Her task is to encourage them to take the help. It is money that will not only help their families and surroundings, but will boost Philadelphia’s economy.
PIDC has the money
Kersy Azócar stated that PIDC has money for the hospitality industry. The area includes food trucks, caterers, small restaurants. Small businesses 721 or 722 coded by the North American Industry Classification System.
“Small business owners are required to fill out the application form at www.pidcphila.com. They must also submit the following documents: 2019 taxes, financial statements or profit and loss, of 2019 and 2020 and a Form W9 that they are going to sign. All these steps must be completed before April 12, when the decision will be known and the application will be closed”.
According to a PIDC press release, the last Virtual Workshop to learn more details about financial aid is April 7. Today from 1:00 pm-2:00 pm an online forum will give a lot of information. In case you are unable to attend, PIDC recommends watching the webinar replay.
PIDC is a non-profit organization. It was founded by the City of Philadelphia and the Greater Philadelphia Chamber of Commerce in 1958. It offers flexible financing tools. It also provides a targeted portfolio of industrial and commercial real estate. It also provides decades of Philadelphia-based knowledge to help its clients invest, develop and grow. It also structures and invests in public-private partnerships for key City policy areas and development priorities. Beyond that mission, the entity today is driven by one task: PIDC has money for Philly’s hospitality industry.
Translated by: José Espinoza