Landlord Working Capital Loans

The Landlord Working Capital Loan, to be administered by the Impact Loan Fund, provides short-term loans to landlords located in Philadelphia that own 15 or fewer units and need assistance to keep their housing units operational.

Landlords frequently are not eligible for other types of small business loans.

The program’s rent guidelines stipulate that rents must remain affordable to tenants at or below 60% of Area Median Income (“AMI”) for Philadelphia County as set by the U.S. Department of Housing and Urban Development, and that rent increases for lease renewals cannot exceed 3% per year for the term of the loan.

Family SizeMaximum Annual
Household Income
More than 8
add per person

Working Capital Loan terms:

  • Loans may not exceed $10,000 per Landlord.
  • Loans do not require repayment for the first six months of their term.
  • The term of each Loan may not exceed 36 months.
  • Interest rates will be fixed at 4%.
  • Closing fees are $150.
  • No early prepayment penalty.

To apply, landlords can visit:  Loans will not be made on a first-come-first-served basis, rather they will be prioritized based on need.

Early in 2021 the Urban Land Institute (ULI) and the Division of Housing and Community Development (DHCD) convened a NOAH Study Visit. Eight local and national experts met with more than 40 local stakeholders. They collected the most promising strategies for preserving and improving NOAH. One of these was to support small landlords through low-cost repair loans. PHDC’s Rental Improvement Fund and Working Capital Loan Fund is a good starting point. Read ULI’s full Report on Preserving Philadelphia’s Naturally Occurring Affordable Housing.

PHDC also has other programs available to assist homeowners, tenants, and landlords during this time of crisis. These programs including Rental Improvement Fund (property repairs to rental units), Restore Repair Renew (home repair loans), and Basic Systems Repair Program (emergency home repair grants).