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Technical.ly
10-06-2025
- Business
- Technical.ly
A powerful Philly grant is fueling small businesses — but few know it exists
This article is a part of Every Voice, Every Vote, a collaborative project managed by the Lenfest Institute for Journalism with lead support from the William Penn Foundation, and additional funding from Lenfest, Comcast NBC Universal, the John S. and James L. Knight Foundation, Henry L. Kimelman Family Foundation, Judy and Peter Leone, Arctos Foundation, Wyncote Foundation, 25th Century Foundation, Dolfinger-McMahon Foundation and Philadelphia Health Partnership. This article was created independently of the project's donors. This piece is also available in Spanish, thanks to translation services by Gabriela Rivera, digital communications manager at Resolve Philly. When Juan Jimenez first heard about a program that could offer his small business tens of thousands of dollars, he thought it was too good to be true. Without finding out about it through a friend, Jimenez, who owns Castillo Mattress and Furniture, could've missed out on a $25,000 grant from the City of Philadelphia. 'The biggest thing is funding, for most businesses,' Jimenez said. 'What you need to be able to grow your business or to make more money, it always comes down to money.' The money comes from the city in partnership with lender Greenline Access Capital, which gave Jimenez a loan for $25,000 with an 8% interest rate (on the low side) and helped him apply for a $25,000 match from the city's Business Lending Network Incentive Grant Program. While Jimenez and 113 other businesses have landed grants up to $35,000, the program relies on the financial institutions behind it to tell their clients about it, Kersy Azocar, president and CEO of Greenline, told — but there's no requirement for them to do so. 'We see these programs as a complementary financing component to small businesses,' said Azocar, whose firm primarily serves Philly's Latino community, 'that otherwise couldn't get what they needed if they didn't have these grants.' If lenders neglect to mention the program, however, business owners could miss out on the opportunity. 'Ninety-nine percent of the time, they don't even know this grant exists,' Azocar said. 'They've never heard of it. They think it's not real. They're like, no, I'm not gonna get it. They immediately self-select themselves [out].' She worries small business owners won't get available funding — and it's unclear how much has been granted to date. $1.1 million was originally allocated to the program by City Council, and about $2 million has been dedicated to the program to date, according to the Department of Commerce. When the city's Fiscal Year 2026 budget is passed, the expectation is more money will be added to the program. Tiffany Justice, director of small business resources at the city's Department of Commerce, declined to share how much money is currently available in the program's fund. How to land funds through Philly's microbusiness grant program Philly launched the Business Lending Network Incentive Grant in 2022 to expand an already existing program that simplifies the process for business owners applying for loans, according to Justice, of the Commerce Department. Since its founding in 2017, the Business Lending Network has grown to 30 institutions, including banks of all sizes, community development financial institutions and nonprofits. The later addition of the incentive grant allows businesses to get part of the capital they need as a grant from the city, instead of taking out the full amount in a loan, Justice said. Businesses have to be approved by the city to get access to the lending network and they must be working with an institution within the network to access the grant program. To qualify for the grant, businesses and their owners must: Be located in Philadelphia Have 51% of the company's ownership identify as part of a historically disadvantaged community Employ five people or fewer, including owners Earn less than $350,000 in revenue Comply with city taxes The Commerce Department's review board meets weekly to review applications from the lender partners. While the lenders do most of the initial vetting of these businesses, the city dives deeper into their budgets and plans for the funds, per Justice. 'We go over the project in its whole entirety to make sure that it is a sustainable business,' she said. The original funding for the program was allocated by City Council, she explained, and it continues to be supported by city and federal funding. But first, lenders need to make their clients aware of the funds While the city has the final say over who gets approved for the grants, lenders do most of the work to identify eligible businesses and help them apply for the program, according to Justice. Greenline Access Capital, which is an approved lending partner with the city, explains the program and the criteria to its clients, Azocar said. It helps clients fill out the application, submits the application to the city and actively advocates for the business if any issues pop up. What you need to be able to grow your business or to make more money, it always comes down to money. Juan Jiménez, owner of Castillo Mattress and Furniture This entire process requires a lot of trust between the business owners and the lenders, she said. Even if owners are open to applying for the grant, they may face language barriers or lack access to a computer or the internet to fill out the application. Greenline Access Capital overcomes that by walking its clients step by step through the process, per Azocar, but lenders aren't required to be that involved with their clients' applications. The only requirements for lenders are to contact businesses within five days of applying to the Business Lending Network, if they are interested in working with them. They are also required to keep the Department of Commerce up to date throughout the process. To continue being a part of the network, lenders must attend quarterly meetings to discuss increasing access to capital for small businesses, according to the Department of Commerce. Room to grow and recover from hardship Business Lending Network Incentive Grants have gone toward everything from storefront renovations to furthering business owner education and securing stock to keep up with sales. Martha Santos, owner of interior design and event planning company M Santos Interiors and also a Greenline client, was seeking a $5,000 loan, but was able to get half of it as a grant that she won't have to worry about paying back. Santos used the money, awarded in May 2024, to take business and event planning classes with the goal of offering better services to her clients, she said. 'I also learned how to basically manage my business,' Santos said. 'The clients see the difference in my knowledge that they can [trust me more].' The only things Incentive Grants can't be used for are to refinance existing debt or to directly pay salaries. 'It allows them to think big, to really expand their business,' said Azocar, of Greenline. '[To do] things that they wouldn't consider because they didn't have the money.' For Jimenez from Castillo Mattress and Furniture, who got the grant earlier this year, the money allowed him to start a stockpile of merchandise, buy a digital catalog kiosk and invest in advertising. 'Now that I had a lot of inventory, I was able to advertise greatly on those products that I had in stock,' said Jimenez, who launched his business in 2020. 'I was able to increase sales by a lot, and actually test how much customers actually can I get by advertising.' The funding also acted as a safety net when unexpected hurdles hit. In February, Jimenez's store was damaged after the store next door caught fire. But thanks to the grant and loan program, and insurance he bought to qualify for the program, Jimenez was able to move to a new location with a full inventory and get back on his feet. 'I absolutely believe that that grant is going to help me push my business to a lot higher,' Jimenez said, 'than I would have done on my own without that help.'
Yahoo
05-06-2025
- Sport
- Yahoo
Joze Azocar elects free agency, Génesis Cabrera to sign with Cubs
José Azocar and Génesis Cabrera, two veterans recently designated for assignment by the Mets, are either seeking or have already found new organizations. Azócar has elected free agency after the Mets outrighted him following his DFA, and Cabrera is set to sign a major league contract with the Cubs. Both players started the 2025 season in Triple-A Syrcause before getting called up to the Mets' major league roster. In just 20 plate appearances, Azocar hit .278/.350/.278 with an 88 wRC+, and he only got into 12 games after the Mets called him up from Triple-A Syracuse. Advertisement Cabrera threw 7.2 innings for the Mets and had a 3.52 ERA with a 4.11 FIP. He struck out seven, walked three, and gave up one home run in that span. Azocar was replaced on the Mets' active roster by Jared Young, who has already gotten nine plate appearances, nearly half of Azocar's total. And Cabrera was replaced, at least temporarily, by fellow left-handed pitcher Brandon Waddell. Both replacements have options and give the Mets some roster flexibility, particularly on the pitching side as the team is set to activate Paul Blackburn in the near future—with the returns of Frankie Montas and Sean Manaea in the works. Montas made his first rehab outing of the season in Brooklyn on Saturday. More from
Yahoo
11-03-2025
- Sport
- Yahoo
Meet the 5 unsung Mets players who have made a good impression this spring
For a New York Mets team expecting to have the parts to contend for a World Series this season, there are not many openings on the their Opening Day roster. Two of the glaring needs with a little more than two weeks to go until the beginning of the Mets' season are backup infield and help in the back of the bullpen. But as manager Carlos Mendoza and president of baseball operations David Stearns will often say, it is going to take a lot more than 26 men to work through the MLB's 162-game marathon. That's where the depth of the team's roster comes into play. And these five unheralded players have presented themselves well through the first month of spring training in the Sunshine State: Position: Relief pitcher The 27-year-old right-hander admitted that initially he was not thrilled to have to make the transition from starting pitcher to bullpen arm but is getting used to the adjustment. It could be his gateway to returning to the major leagues for the first time since 2022. "You have to be ready from pitch one," Kranick said. "In the bullpen, get hot and use some of your best bullets out there to prep and be ready. That was an adjustment early." Kranick, who saw his competition for a starting role sidetracked by a hamstring injury last spring, has turned heads early in spring, with a fastball that sits in the upper-90s. Now viewed as a multi-inning option out of the bullpen, Kranick has tossed seven scoreless innings with eight strikeouts and four hits allowed. Position: Outfielder While there might be a logjam of outfielders on the Mets' major league roster, with Jesse Winker and Starling Marte likely to regularly occupy designated hitter roles, Azocar has been arguably the most productive outfielder, sans Juan Soto, this spring. The 28-year-old Venezuela native, who was claimed off waivers by the Mets last September, is tied for the team lead with 10 spring training games played. Entering Monday night, he's 8-for-21 (.381) with one home run, six RBI, five runs and a stolen base. With the health of both Brandon Nimmo and Starling Marte worth monitoring, Azocar could sneak his way into consideration as a replacement down the line. In 214 major-league games across three seasons with the Padres, Azocar is a lifetime .243 hitter. Position: First baseman Since breaking through into the major leagues as a 30-year-old with the Nationals in 2022, Meneses has seen a somewhat steady decline in his offensive numbers over the last two seasons. His struggles in 2024 — he slashed .231/.291/.302 in 76 games — landed him back in Triple-A Rochester. Meneses has proven that he can have success at the major league level, evidenced by his .930 OPS in 56 games in 2022. He could provide a safety valve behind Alonso at first base or designated hitter. After a late arrival to spring, Meneses is 3-for-9 and highlighted Saturday night's win with a three-run home run and a highlight-reel catch in front of the Mets' dugout. Position: Relief pitcher Gose is an interesting character to keep an eye on. The 34-year-old, who broke into the major leagues as an outfielder, has reinvented himself into a pitcher over the last decade. The southpaw is still looking to make an impression at the major league level despite steady production at the Triple-A level. Last season, Gose recorded a 5-4 record and 3.22 ERA with 10 saves, 10 holds and 59 strikeouts in 44⅔ innings for Triple-A Columbus. The former second-round pick has pitched in 31 major league games across three seasons with a 4.78 lifetime ERA. So far this spring, Gose has tossed four scoreless innings with four strikeouts and a 1.00 WHIP. Position: Relief pitcher If there's one thing that Mets president of baseball operations David Stearns appreciates, it's relievers with some flexibility. The 29-year-old Zuber, who carries one more minor league option, could provide that for the Mets. The righty joined the Mets organization following a trade from the Rays at the trade deadline but never debuted with the team. He struggled for Triple-A Syracuse, allowing 22 earned runs in 16 innings but appears to have gotten back on track this spring. In three appearances, Zuber has tossed 3⅓ scoreless innings, striking out three and surrendering two hits and three walks. Zuber managed to keep the Marlins off the board despite tendering three walks in his spring debut. This article originally appeared on NY Mets: Standout players for team at spring training 2025
