Turn your monthly rent into long-term equity.
Neighborhood Progress Fund is committed to helping Philadelphia small businesses and nonprofits buy their property. Our Commercial Real Estate Acquisition Loan (CREAL) program provides low-interest commercial lending, closing cost grants, and free, step-by-step guidance that can make the dream of owning your space a reality.
Program Features
No Minimum Credit Score
Even if you’ve been declined by a bank in the past, you won’t be disqualified.
Grant Money Included
Get up to $50,000 toward a down payment and closing costs that you won’t have to pay back.
Step-by-Step Guidance
Free one-on-one coaching and training. We’re with you from the start to the finish.
Free Real Estate Training
We provide the practical tools you need to succeed as a new property owner.
Readiness Support
If you’re not fully prepared to apply now, we will work with you until you are.
Loan Options
| For-Profit Small Businesses | 501(c)(3) Nonprofits | |
|---|---|---|
| Max Loan Amount | Up to $400,000 | Up to $400,000 |
| Loan Term | 5-Year Term (20-Year Amortization) | 5-Year Term (25-Year Amortization) |
| Interest Rate | Low-Interest Fixed Rate | Low-Interest Fixed Rate |
| Closing Cost Assistance | Up to $50,000 Grant | Up to $50,000 Grant |
How Our Process Works
Submit the Interest Form
The City of Philadelphia will handle the initial intake and assign your application to NPF.
Assessing Your Readiness
You’ll meet with an NPF advisor to review your finances and property goals.
Preparation or Application
If you are ready, we’ll submit your loan application. If you need more time, we provide free coaching to get your finances application-ready.
Closing & Ongoing Support
Get funded and receive your grant money. You’ll enjoy ongoing access to coaching throughout your first year of property ownership.
Eligibility Criteria
The Business or Nonprofit
- Must operate primarily in Philadelphia, with active local and PA state business registrations.
- Must have at least three years of operating history.
- Must be up to date on City business taxes (or on an active payment plan).
- Eligible structures: LLC, S-Corp, C-Corp, Partnership, Sole Proprietorship, Independent Contractor, or 501(c)(3) Nonprofit.
The Business Owner
- Must be 18 or older and a U.S. citizen (or eligible non-citizen).
- Low-to-moderate income earner OR operating in a low-to-moderate income neighborhood.
- No bankruptcies in the past 24 months.
The Property
- Must be located within one of Philadelphia’s 50 designated commercial corridors.
- Must be zoned commercial or commercial mixed-use.
- Must be owner-occupied (you must run your business from the property; investment properties are not eligible).
Note: NPF does not finance adult entertainment, cannabis industry businesses, gambling operations, pawn shops, check cashing, political activities, or businesses with owners currently facing criminal charges.
What You Will Need to Apply
- Project & business overview
- 3 years of business tax returns & financial documents (balance sheet, income statement (P&L), cash flow statement)
- Business debt schedule & formation documents
- For owners with 20%+ stake: 3 years of personal tax returns, personal financial statement, ID, resume, and credit authorization
- Property documents (sales agreement, appraisal, and title work — we’ll help you coordinate these)