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Crisis Support for Businesses

Financial Assistance during COVID-19 Crisis

At PECO, we share a companywide determination to power you through the COVID-19 national emergency by delivering essential energy services.  We also share a deep commitment to support Federal, state, and local efforts to deliver financial assistance to our small business customers.  Please visit the links below for important crisis support information. Make sure to check these resources regularly as the situation and availability of more funds evolves.

Thank you for being a valued PECO business customer. We will power through COVID-19 together.

U.S. Small Business Administration

The Paycheck Protection Program, initially rolled out last spring to help businesses survive the financial blows of the coronavirus pandemic, is open again for another round of loans. The program is intended to help small businesses keep employees on the payroll instead of laying them off. The SBA will forgive the loans if employee retention criteria are met and the funds are used for eligible expenses, which includes payroll costs, business mortgage interest payments, rent or utilities.

Initially applications are being taken exclusively by Community Development Financing Institutions (CDFIs), which are dedicated to affordable lending in low-income communities.  Find local CDFIs here.

Paycheck Protection Program Application Assistance

The City of Philadelphia Commerce Department, the African American Chamber of Commerce, Asian American Chamber of Commerce Greater Philadelphia, Greater Philadelphia Hispanic Chamber of Commerce, Urban League of Philadelphia and The Enterprise Center partnered to launch a "Get Your Documentation Ready NOW" campaign which is now providing PPP application assistance. Visit the Enterprise Center here.

Comcast Small Business Marketing Assistance

Comcast Corp is offering eligible small businesses consultation, media, creative production, and tech resources. RISE stands for Representation, Investment, Strength and Empowerment and is especially focused on Black, Indigenous and People of Color-- BIPOC entrepreneurs.  Grants may be forthcoming.  For additional information visit Comcast RISE.

U.S. Federal Reserve Bank

The Federal Reserve established a Main Street Lending Program designed to help small- and medium-sized businesses throughout the economy recover from, or adapt to, the impacts of the pandemic. For additional information, eligibility criteria and applications click here.

Pennsylvania

The Pennsylvania Department of Community and Economic Development (DCED) allocated $225 million in original CARES Act funds for COVID-19 relief for small businesses.  PA DCED distributed the funds through Community Development Financial Institutions (CDFIs) that are administering a PA Small Business Grant Programs.  For additional information, click here.

Philadelphia, PA

Since the COVID-19 health emergency and corresponding economic crisis first began, the City of Philadelphia has distributed millions in grants to more than 2,000 small businesses from its COVID-19 Small Business Relief Fund.  The program is currently closed, but you can check this portal for updates.   For additional information on business assistance programs, visit the Philadelphia Industrial Development Corporation.

Bucks County, PA

Bucks County used Federal CARES Act funds to administer three rounds of its Back to Work Small Business Grant program.  While the official Bucks County program is currently closed, you can check this portal for updates.  For additional information on business financial assistance programs, visit the Bucks County Economic Development Corporation.

Chester County, PA

Chester County Commissioners recently launched a second round of its Main Street Preservation Grant Program to support small businesses and agricultural enterprises impacted by the Covid-19 pandemic.  This competitive grant program is being administered by the Chester County Economic Development Council (CCEDC).  It was open for applications for a short period of time in December 2020.  For details and updates when available click here.

Delaware County, PA

Delaware County opened the application period for a new round of Delco STRONG Small Business Grants for a short period of time in December 2020.  The Delaware County Economic Development Oversight Board is administering the program.  For details and updates, check this portal.

Montgomery County, PA

Montgomery County administered three rounds of itsMontcoStrong Small Business Grant Program and recently launched a MontcoStrong 2021 Restaurant Grant Program whereby interested food businesses had the opportunity to apply for grants to cover expenses. The grant window is closed, but you can check this portal for updates.



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