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Philadelphia Commercial Real Estate Acquisition Program
Philadelphia Department of Commerce
ABOUT THE GRANT
The Commercial Real Estate Acquisition Loan (CREAL) Program provides Philadelphia small business owners with a grant of up to $35,000 for closing costs alongside a mortgage loan of up to $350,000 to purchase commercial property in low- and moderate-income areas. Administered by the City of Philadelphia's Department of Commerce in partnership with the Women's Opportunities Resource Center (WORC), the program is designed to promote asset ownership and help business owners build generational wealth by transitioning from leasing to owning their commercial space. Eligible properties must be located on an approved commercial corridor, and technical assistance is provided throughout the purchase process — both before and after acquisition. The program prioritizes applicants who are unlikely to access traditional lending due to financial barriers. To qualify, applicants must be a business owner with a low-to-moderate income (or own a business located in a low-to-moderate income community), have a credit score of 550 or higher, be registered and licensed with the City of Philadelphia, and be current on city business taxes.
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NOTES
Please note: This program has two components, a grant for closing costs paired with a traditional loan for property acquisition
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