Landlord Working Capital Loan Program

Landlord Working Capital Loan Program

The City of Philadelphia and Impact Loan Fund are launching a citywide loan program to assist residential landlords who have been impacted by tenant unemployment and business shutdowns due to COVID-19.  In the current environment, with an eviction moratorium and high rates of disruption for renters, the program will provide working capital to landlords who are having challenges covering their expenses. This program is targeted to landlords who own 15 or fewer residential rental units that are leased at affordable rates.

Funds remain available and applications are being reviewed on a weekly basis. If funds become limited, we will prioritize based on our ability to assist the most landlords in the lowest income neighborhoods.

The Details:

  • Loans up to $15,000
  • No payments are due for the first 9 months
  • Loans are then repaid over a 60-month period
  • Closing costs are $150
  • Fixed interest rate is 4%
  • Loans are unsecured
  • Loans must be guaranteed by principal owner(s)
  • No penalties for early repayment
  • Landlords may receive up to 3 loans for affected properties up to a maximum of $24,999
  • Applicant’s property must be located in the City of Philadelphia
  • Landlord must certify that their cashflow was affected as a result of non-payment or reduced rent payments due to COVID-19
  • Real estate taxes must be paid through 2019
  • All of a landlord’s rental units must qualify as affordable to tenants at or below 60% of the Philadelphia Area Median Income (AMI). Rent increases for lease renewals cannot exceed 3% per year.

2020 Rent Guidelines:

Studio:  $1,015
1 bedroom:  $1,160
2 bedroom:  $1,450
3 bedroom:  $1,681
4 bedroom:  $1,914

  • Applicants must have a current rental license
  • A lease must be in place with a current tenant
  • Copy of the property deed
  • Must provide proof of 2018 or 2019 federal tax filing

Initial funding is expected to become available during the month of July or August. If you’re having difficulty completing the application, please email

Loans will be available until funds have been fully utilized. If you’re having difficulty completing the application, please email

Note: Landlords may submit up to three applications.

To apply, please complete the following:

Please contact for all questions and inquiries, or call (215) 974-0900.

Printable info sheet on the Landlord Working Capital Loan Program: