The Resilience Fund will provide relief for small construction businesses in Philadelphia
Jerry Sweeney and Della Clark, with others, cut the ribbon at the June 2019 opening of Drexel Square Park at Schuylkill Yards
The Enterprise Center, funded by a $350,000 grant from Brandywine Realty Trust, has launched the Grow Philadelphia Small Business COVID-19 Resilience Fund to relieve small and minority-owned construction and construction-related businesses struggling with the COVID-19 pandemic. The fund provides low-interest loans with flexible payment terms to eligible businesses.
“Small and local businesses are the lifeblood of our community. Not a single individual or business isn’t feeling the impact of this global crisis, but we know our neighboring small businesses are enduring some of the greatest pain of all. The Enterprise Center has proven to be a dedicated and powerful resource in helping to create new realities for minority entrepreneurs, and we are happy to play a small role in helping these businesses weather this challenging time and emerge stronger than ever. Hopefully, they will be working on some of our projects in no time,” said Jerry Sweeney, President & CEO of Brandywine Realty Trust.
While the statewide shutdown of non-essential businesses has impacted the entire Pennsylvania construction industry, small and minority-owned businesses are especially vulnerable because they face greater challenges in accessing contracts, capital, and industry networks. The building trades in Philadelphia remain less diverse compared to other cities, and only an estimated 6.9% of local construction firms are minority-owned.
“Time and time again, Brandywine Realty Trust provides outstanding leadership with a long-term vision for the future of our city. This Resilience Fund will quite literally keep small and local businesses in our community afloat during this challenging time, strengthening the viability of their future and the well-being of their employees,” said Della Clark, President of The Enterprise Center.
The Resilience Fund builds on the Grow Philadelphia Capital Initiative, an established partnership between The Enterprise Center and Brandywine Realty Trust that supports minority construction businesses with loans, business advisory services, and employment opportunities, for which Brandywine had previously granted $250,000 in seed capital. Grow Philadelphia is just one part of Brandywine’s unprecedented Neighborhood Engagement Initiative, a $16M+ commitment to the community as part of its Schuylkill Yards mixed-use development. Other Neighborhood Engagement Initiative programs include: the Local Sourcing Initiative, CDC Co-Development Program, Construction Apprenticeship Preparatory Program, and a Community Fund for affordable housing, housing preservation, education and community organization capacity building.
To learn more about the Grow Philadelphia Small Business COVID-19 Resilience Fund, visit https://www.
About The Enterprise Center
The Enterprise Center’s mission is to lead economic growth by linking minority enterprises to Business, Capital and Community. We approach our mission by accelerating the capacity of minority enterprises to compete in any marketplace through business education, access to capital, management support, and connections; by providing debt and equity capital that businesses need to start, grow, and succeed; and by catalyzing benefits for businesses and residents that spark community revitalization. Learn more at www.theenterprisecenter.com.
About Brandywine Realty Trust
Brandywine Realty Trust (NYSE: BDN) is one of the largest, publicly traded, full-service, integrated real estate companies in the United States with a core focus in the Philadelphia, Washington, D.C., and Austin markets. Organized as a real estate investment trust (REIT), we own, develop, lease and manage an urban, town center and transit-oriented portfolio comprising 173 properties and 24.3 million square feet as of December 31, 2019, which excludes assets held for sale. Our purpose is to shape, connect and inspire the world around us through our expertise, the relationships we foster, the communities in which we live and work, and the history we build together. For more information, please visit www.brandywinerealty.com.
