The Merchants Fund is accepting applications for its Stabilization Grant Program to provide funding for specific projects or assets used to stabilize or grow the business.
Donor Name: The Merchants Fund
State: Pennsylvania
City: Philadelphia
Type of Grant: Grant
Deadline: 05/31/2023
Size of the Grant: $65,000
Details:
The grant is a one-time infusion of capital to help the business:
- Stabilize
- recover from a specific deficit/challenge (e.g. replace a failing HVAC system, repair an outdated production space, etc.)
- Grow
- take advantage of an opportunity to increase revenue or decrease expenses (e.g. purchase a piece of equipment that will improve productivity, improve the interior of the store, expand to wholesale/e-commerce, etc.)
Funding Information
$65,000 available for this cycle.
Eligibility Criteria
A business must meet all of these eligibility requirements to successfully receive a Stabilization Grant from The Merchants Fund.
- Business is located in Philadelphia;
- Business is independently owned and operated (franchises are eligible if independently owned and operated);
- Business has been in operations for a minimum of two years;
- Business is the owner’s primary source of income;
- Business operates a storefront or physical location (food trucks and kiosks are eligible);
- Business is in compliance with all federal, state, and local taxes (or on an approved payment plan);
- Business has the required federal, state, and local licenses and permits to operate legally;
- Business has been in current operations for the last 90 days and plans to continue operating;
- Business made no less than $75,000 in total sales (also known as revenues) in the last tax year and no more than $750,000 in the last tax year;
- Business must be able to show a financial need for the potential grant.
For more information, visit Stabilization Grant Program.
