FunTimes Magazine Publisher Dr. Eric Nzeribe (pictured second on the left) joined City of Philadelpjhia government officials and business leaders to support the launch of Philadelphia Small Buisiness Catalyst Fund to help siupport small-business growth. Photo courtesy of the Philadelphia Commerce Department.
The initiative provides grants and modernized support services.
City officials, led by Philadelphia’s Director of Commerce Alba Martinez, announced the launch of the Philadelphia Small Business Catalyst Fund earlier this week at City Hall. FunTimes Publisher Dr. Eric Nzeribe joined the City and business leaders to introduce and promote the new small-business initiative.
The $5 million fund investment is designed to help grow small businesses and entrepreneurs in Philadelphia. It reflects Philadelphia Mayor Cherelle L. Parker’s plans to create “Economic opportunity for all.” It also supports the PHL Open for Business Executive Order, which was established to boost businesses and reduces barriers.
“Philadelphia small businesses and entrepreneurs are the backbone of our city and we want to help them begin and grow,” said Mayor Parker. “Our goal is to make sure all Philadelphians have access to economic growth and opportunity, and we are confident that the new Small Business Catalyst Fund will support economic development and drive innovation.”
Said Commerce Director Martinez: “The Fund is not just about grants — it’s about accelerating success….Through a streamlined application process, proactive outreach, and a data-driven approach, we are dedicated to eliminating outdated methods that slow small business growth.”
The Philadelphia Small Business Catalyst Fund is designed to:
- Connect businesses to comprehensive support beyond Catalyst funding, including business education, mentorship, capital, and strategic guidance.
- Use a data-driven, principles-based approach to simplify and streamline the application process.
- Foster collaboration across Philadelphia’s business ecosystem, ensuring every entrepreneur has the opportunity to start, grow, and succeed.
Eligible businesses would need to: Demonstrate strong growth potential with a clear expansion plan; contribute to local economic impact, strengthening neighborhoods and creating jobs; show resilience and innovation despite challenges accessing traditional funding, and generate less than $2 million in revenue (2024).
The Fund includes dedicated funding for businesses in key sectors: Life sciences, manufacturing, nighttime economy, creative economy, and commercial corridor real estate acquisition.
The Catalyst Expression of Interest form will be available to business owners in April. For more information and updates, click here.
