PIDC

Join us on December 11th to find out how successful Philadelphia entrepreneurs use advisory boards to build a strong foundation and reposition their businesses for sustainable and profitable growth. Plus, learn how you can do the same with an advisory team of professional volunteers from the Philadelphia nonprofit organization, the Advisory Network for Small Business (ANSB). Register today ?? https://lnkd.in/eJiCnYJF

PIDC used GRIT Fund dollars to provide a Bridge Loan to Custom Arts Studio LLC (“CAS”), a full-service fine art and design company in Philadelphia. In addition to offering custom painting, portrait, book cover art, and murals, the company offers high quality graphic and web design services to patrons, businesses and non-profits. Custom Arts Studio’s work has been collected by three museums, highly awarded, and recognized in the Arts and Culture community. The business is 100% woman- and black-owned by artist and creator, Keisha Whatley. Ms. Whatley also operates a small property management business under a sole proprietorship called Win Win Investments LLC.? ? In April 2021, PIDC provided a Commercial Mortgage Loan (CML) to Win Win Investments, LLC (“Win Win”), to purchase a 2,423 SF mixed-use vacant building. The project is known as @Germantown ArtHaus and its vision?is for?Germantown residents to have access to a community-centered cafe offering art and products made by local artists and small businesses, workshop and classroom space for arts and education classes, a coworking space for local entrepreneurs, a commercial space for rent for a small business or nonprofit, and a rental studio apartment.?PIDC loan proceeds were used for both acquisition and renovation costs including demolition, concrete, framing, plumbing and electrical work. ? Since closing her CML with PIDC, Ms. Whatley has been fundraising for the remaining renovations of Germantown ArtHaus and was awarded a Local Share Account-Philadelphia (LSA) grant in December 2023 through a related nonprofit, The Artist Bank Inc. Using PNC Bank Dollars raised through the GRIT Fund Program, PIDC financed a Bridge Loan to Win Win and The Artist Bank Inc (Co-borrowers) to cover the LSA grant. Reimbursement requests under the LSA program are typically paid within 2-3 months. The bridge loan will also have an Assignment of the LSA Grant Agreement, which will be available by closing. #communitydevelopment #blackbusiness #womeninbusiness #equitable #investment #capitalaccess #smallbusiness

The Corporate Transparency Act (CTA) went into effect on January 1, 2024. Under the CTA, you may be required to report information about your business and its owners to the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN). Here’s the must-know information to make sure you and your business are in compliance.

Delaware Valley Community Health is a community health center that’s been providing affordable, accessible, culturally competent healthcare services throughout the Delaware Valley Region for over 50 years. A mainstay in the city, DVCH helps patients regardless of their ability to pay at the time of service. The center recently made the decision to implement a Family Medicine Residency Program, making them the first Teaching Health Center in Philadelphia. In order to launch this residency program, DVCH needed financing to renovate and expand its Fairmount Primary Care Center. PIDC was proud to support the center, providing them with $4 million in New Markets Tax Credit (NMTC) allocation and a $1.1 million participation loan. Read More ??

?? Attention Philly Small Businesses! The Philadelphia Business Journal has compiled a list of grant opportunities available in November. Whether you're starting or scaling your business, funding can be the boost you need. Explore the available grants and apply today!

It's time to vote, Philadelphia! Your vote matters. Polls are open until 8 p.m tonight. Visit vote.phila.gov for latest updates. #PhillyVotes

We’re excited to introduce the newest additions to PIDC’s growing team! Each of these talented professionals brings unique skills, experiences, and fresh perspectives that will help drive our mission to foster economic growth and opportunities throughout Philadelphia. As PIDC continues to support businesses, nonprofits, and developers in our vibrant city, these new team members will play a key role in strengthening our efforts to create lasting impact. Let’s take a moment to welcome them and learn more about their stories!

Celebrate the kick off of #campoutforhunger at the Navy Yard Philadelphia on November 7! From 12-2 at the Marine Parade Ground you can drop off canned food donations and enjoy lunch from a food truck and an appearance from 93.3 WMMR Philadelphia’s Steve Morrison. Learn more here?? https://bit.ly/3NJ1xc4

We're kicking off Camp Out For Hunger at the Navy Yard with Philabundance and 93.3 WMMR Philadelphia! Join us on November 7 at the Marine Parade Ground between 12-2pm to celebrate with food trucks Red Stone Pizza Truck and Grab & Roll Wings & Bowls. Bring your canned food donations! We are excited to support #CampOutForHunger by collecting canned food donations to help end food insecurity in the Philadelphia region. Find more information here: bit.ly/3NJ1xc4

Navigating the resources you need to succeed is about to get easier! The Philadelphia Department of Commerce is launching a 24/7 online business resource finder – a powerful new tool to help Philly’s entrepreneurs and small businesses find the support they need to thrive. PIDC was proud to work with the Department of Commerce, United Way of Greater Philadelphia and Southern New Jersey, and Equitable Cities Consulting to help create this essential resource. Stay tuned for the official launch and get ready to discover resources that make a difference!