Philadelphia Industrial Development Corporation (PIDC), the economic development agency founded 62 years ago by the City of Philadelphia and the Chamber of Commerce for Greater Philadelphia to spur business growth and neighborhood development, has a new loan program for small business owners who are working on reopening during the COVID-19 pandemic.

The Restart PHL Loan Fund aims to provides low-cost capital to small businesses with less than $5 million in revenue. The funds are to be used for improved business resilience or growth, like working capital, inventory, technology, mobilization, rehiring and employee training, PIDC said.

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