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Consumer Alert! Policymakers in Washington are proposing a mandate that would require PRS to report consumer and business account information to the IRS. Visit www.banklocally.org/privacy for the details and how to take action.

Resources

COVID-19 Business Resources


On this page, you can find information on

**Please be aware of a phishing scam going around which includes an email from a fake SBA with a malicious link to a spoofed SBA Loan Relief Webpage. Confirm any SBA disaster assistance emails by contacting (800) 659-2955, or TTY (800) 877-8339, or email disastercustomerservice.sba.gov. Remember, do not click on links within emails from unknown sources or links that don't look quite right!**


PPP Funds Through CDFIs and MDIs

With the PPP funds mostly exhausted at this point, the remaining funds have been reserved for Community Development Financial Institutions (CDFIs) and Minority Depository Insitutions (CDIs) to hand out.
 


Instructional Videos for Your PPP Forgiveness Application Portal Access

Watch our videos to learn more about the Forgiveness Portal.


The Paycheck Protection Program (PPP) - PPP Forgiveness Applications

The PPP Forgiveness Application Form 3508EZ is designed for businesses who meet any of the following three criteria:

  1. Applied for the PPP loan as self-employed, an independent contractor, or a sole proprietor with no employees.
  2. Did not reduce salary or wages for any employee by more than 25%, and did not reduce the number or hours of their employees (excepting laid-off employees who refused an offer to return).
  3. Did not reduce salary or wages for any employee by more than 25% during the covered period and experienced reductions in business activity as a result of health directives related to COVID-19.

If you meet any of the criteria above, use these:

For businesses that do not meet one of the criteria listed above, use these:


Illuminate the Arts Grant

Philadelphia's Office of Arts, Culture, and the Creative Economy (OACCE) is distributing a total of $1M to individual artists, small and mid-sized arts organizations, and small creative enterprises. There is an informational meeting on May 11 and the deadline to apply is May 28, 2021. Visit this page for more information or to apply.


The SBA's Restaurant Revitalization Fund (RFF)

The SBA has released the official guidelines and application for the Restaurant Revitalization Fund. Details can be found in English at www.sba.gov/restaurants and in Spanish at www.sba.gov/restaurantes.


Funding Opportunities for PA Small Businesses

Caress Dreams to Reality Fund - 150 diverse founders will receive $1000 grants and $1500 coaching scholarships.

Hello Alice - $10,000 Grant and Mentorship

BeyGOOD Black-Owned Small Business Fund - NAACP and BeyGOOD team up to offer $10,000 grants once a month through the end of 2020.

KKR Small Business Builders - Grants designed to help small businesses as they respond to the COVID-19 crisis.


Other Resources For Businesses


If you have any questions, please email Josh Mooney at jmooney@PRSBank.com.