Brings the City’s direct support for small businesses to $38.7 million and for rental assistance to $39.4 million since start of the pandemic
PHILADELPHIA – The Kenney Administration and Philadelphia City Council today announced a new commitment of $30 million dollars in Coronavirus Aid, Relief, and Economic Security (CARES) Act funding to aid renters and small businesses during the COVID-19 pandemic. The funding comes from the federal Coronavirus Relief Funds (CRF) that the City received from the U.S. Treasury. The CARES Act authorized payment of these funds to states, local governments with populations of 500,000 or more, and tribal governments. Since May 2020, the City has utilized federal, state, and local funding to assist thousands of tenants and small businesses.
“While the COVID-19 pandemic continues to affect everyday life, we recognize that some of our most vulnerable communities need more help to pay rent in order to stay in their homes and our small businesses need continued support to survive,” said Mayor Jim Kenney. “That’s why this additional relief will be deployed as quickly as possible to prevent evictions and business closures, and to protect jobs.”
“This additional $30 million is essential to help small businesses and renters struggling as a result of the COVID-19 pandemic,” said City Council President Darrell Clarke. “We need to do everything in our collective power to help keep businesses open, employees working, and renters and residents safe in their apartments and homes. This added funding is welcome news.”
This latest allocation of funds brings the City’s direct support for small business assistance to $38.7 million and for rent relief to $39.4 million. When combined with other state and philanthropic funding sources, small businesses and nonprofits in Philadelphia will have received over $100 million in support and nearly $68 million has been spent or committed for helping Philadelphia renters.