Starting or growing a business in Philadelphia or anywhere else as a Black entrepreneur is not easy. One of the most important elements you need is capital. Operating and expanding your business requires funds. Getting this fund can sometimes be challenging.
From tech startups to food trucks and beauty parlors, Black entrepreneurs in Philly are building some of the city’s most dynamic businesses. However, they still have to grapple with the hurdles of getting capital, mentorship, and support.
A LendingTree analysis showed that Black-owned businesses faced the highest rejection rate for financing in 2024, with 39% of them denied loans, lines of credit, or merchant cash advances.
The good news? Philadelphia has some programs that can help your small business if you know where to look and how to prepare.
We’ve compiled a list of opportunities small businesses in Philadelphia can benefit from in 2026 and how to apply.
“As a Black entrepreneur, I’ve learned that access to resources, funding, and the right support network can make all the difference in whether a small business simply survives or truly thrives. Entrepreneurship requires resilience, creativity, and community – and when business owners are connected to real opportunities and guidance, it opens the door for growth, stability, and generational impact,” said Lavonne Nichols, Founder, Say Something Good LLC
Photo Credit: Lavonne Nichols/Host, FunTimes Magazine Live & Virtual Events
Philadelphia Small Business Catalyst Fund
The City of Philadelphia announced the launch of the Philadelphia Small Business Catalyst Fund in February 2025. An initiative of the Department of Commerce, the fund is designed to accelerate the growth of small businesses and entrepreneurs across the city.
The $5 million investment fund is part of Mayor Cherelle Parker’s agenda to create economic opportunity for all.
“Philadelphia’s small businesses and entrepreneurs are the backbone of our city, and we want to help them begin and grow. 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 Mayor Cherelle L. Parker.
The fund offers up to $50,000 per business as well as support and advisory services to help build long-term success. It will be awarded based on demonstrated need, growth potential, and economic impact.
Photo source: Instagram / official_aacc
To be eligible for the fund, you must:
- Be located in Philadelphia
- Demonstrate strong growth potential with a clear expansion plan
- Be registered and licensed with the City of Philadelphia
- Be able to accelerate business goals with targeted funding and support
- Generate less than $2 million in annual revenue
- Compliant with City taxes.
How to apply for the Catalyst Fund: You can use the online form.
Philadelphia Business Lending Network Incentive Grant
Philly launched the Business Lending Network Incentive Grant in 2022. The program, which builds on the innovative Philadelphia Business Lending Network (PBLN), helps business owners who don’t have enough capital access loans for business startup, growth, or purchase of commercial property.
Businesses can receive a grant of up to $35,000, up to 50 percent of each approved loan amount from a PBLN lender, based on eligibility requirements. The grant amount would be directly attached to the loan agreement for the business.
To qualify for the grant, businesses and their owners must:
- Be located in Philadelphia
- Have 51% of the company’s ownership identify as part of a historically disadvantaged community
- Employ five people or fewer, including owners
- Earn less than $350,000 in revenue
- Comply with city taxes.
How to Apply: Complete the financing request form online. If your project and capital needs match available resources, PBLN lenders will contact you directly.
Wish Local Empowerment Program (Black-Owned Only)
This is exclusively for Black-owned businesses in the United States to help promote equality and diversity. Black business owners can apply for $500 – $2,000 grants to help rebuild their small businesses.
To be eligible, you must:
- Be at least 18 years old
- Have 20 or fewer employees
- Generate an annual revenue of less than $1 million
- Own a brick-and-mortar store in the US
- Must join the Wish Local app after you have been selected.
How to apply: You have to complete an online form with details about your store and why you qualify for the program. Applications are accepted on a rolling basis.
Storefront Improvement Program
Are you a business owner in Philadelphia looking to improve the exterior appearance of your commercial property? This program of the Department of Commerce is for you.
Business and property owners may be eligible to receive grant money for storefront improvements, making these areas more attractive to shoppers and growing their vitality and economic performance
The Storefront Improvement Program can reimburse up to 50 percent of the cost of eligible improvements to a maximum of $10,000 for a single commercial property, or up to $15,000 for a multiple-address or corner business property.
How to apply:
Email SIP@Phila.Gov or call 215-683-2025, to find out if your project is eligible. If it is eligible, you will be matched with a relationship manager who will walk you through the process.
After discussing improvements with your relationship manager, it’s time to apply online. You can also apply without a relationship manager if you wish to do so.
The Moving Mountains Grant
The Leon H. Sullivan Charitable Trust: Moving Mountains Grant is for Philadelphia-based small businesses, with priority for North Philadelphia. The focus is to stabilize and strengthen day-to-day business functions. Successful applicants can get up to a $10,000 grant for core operating expenses.
Eligibility requirements:
- Small business (less than $250,000 annual revenue)
- Minimum 3 years of business operation
- Business owned and operated in Philadelphia
- Priority is given to North Philadelphia Businesses
How to apply: Check thesullivantrust.org website. You will need to present a clear project description, a budget request, and a narrative explaining how the costs support your business goals. The project budget must use the budget template provided.
Photo source: Instagram / pennsylvaniadep
Small Business Advantage Grant from the Department of Environmental Protection (DEP)
This is offered through the Pennsylvania Department of Environmental Protection, providing reimbursement grants ranging from 50% to 80% of eligible project costs to Pennsylvania small businesses.
The goal is to provide small businesses in Pennsylvania with grant funds for projects that improve energy efficiency and reduce waste. The grant award amounts will vary from up to $7,500 to up to $12,000, based on the environmental impact of the project and whether the location is in an Environmental Justice Area in Pennsylvania.
To be eligible, you must:
- Be a Pennsylvania-based business with 100 or fewer full-time employees.
How to apply: Visit the Small Business Advantage Grant website for more information. All program documents, including program guidelines and a grant calculator, are available there. The 2025-2026 Small Business Advantage Grant Program opened for applications on August 1, 2025. Project work for eligible projects and applicants must start on or after July 1, 2025, and must be completed by June 30, 2026.
Other Financial Support Programs
The Department of Commerce provides access to financial support for businesses in the Philadelphia area. These are programs, organizations, and services that can help Philadelphia business owners get financial support to start or improve their business. They include:
- InStore Forgivable Loan Program
- Commercial Real Estate Acquisition Loan (CREAL) Program
- Fair Chance Hiring Initiative
- Business Security Camera Program
You can also access free support resources like:
Mayor’s Business Action Team: They provide personalized assistance to entrepreneurs for all aspects of doing business in Philadelphia.
Philadelphia Business Improvement Districts: A citywide collaboration between 16 organizations focused on providing services to business corridors.
SCORE Philadelphia: They provide free mentoring services and a variety of educational workshops and webinars.
Temple University Small Business Development Center: They provide free business consulting services, webinars on every topic, and financial planning help.
