Governor Wolf Announces Funding for Two Minority-Owned Philadelphia Small Businesses, Supporting Economic Growth and Promoting Job Creation
Harrisburg, PA (STL.News) Governor Tom Wolf announced the approval of new funding for two minority-owned small businesses located in Philadelphia through the Department of Community and Economic Development’s (DCED) Pennsylvania Minority Business Development Authority (PMBDA) that will help support local business growth and job creation.
“PMBDA plays a critical role in my administration’s commitment to supporting minority-owned small businesses in the commonwealth and establishing a level playing field for every business owner to be able to access the resources they need to grow and thrive,” said Gov. Wolf. “This funding will help both of these businesses in growing their teams and continuing to provide valuable and reliable services to communities in Philadelphia.”
The following loans were approved:
Funtimes Magazine, LLC, a publication that serves as a trusted source, platform, and connector to community resources for minority and vulnerable groups not typically covered by mainstream media, was approved for a $216,000 loan to finance the purchase of the property where it is currently operating. The publication celebrates African, Caribbean and African Americans in the Delaware Valley and is a nationally certified Minority Business Enterprise and accredited by the Better Business Bureau with an “A” rating.