Meeting Community Needs: How a Public Bank Could Help the City of Philadelphia

Respond to crises

A Philadelphia Public Bank could get money fast to small businesses and other public and private entities with no safety net to protect themselves in times of crisis, such as the coronavirus pandemic. More Info

Support renewable energy and energy efficiency

A Philadelphia Public Bank could work with private-sector investors to provide low-cost, long-term, sustainable financing for programs and specific projects that develop the renewable energy and energy efficiency economy.  More Info

Mitigate gentrification impacts

A Philadelphia Public Bank could promote improvement of the housing stock in targeted neighborhoods by providing credit enhancement for loans from community banks and lending institutions for property repairs and upgrades. More Info

Improve the School District’s bottom line

The School District currently pays 9% of its budget to service its $3.2 billion debt, with $147 million going to pay interest alone. A Philadelphia Public Bank could reduce these costs by refinancing the existing debt, and borrowing additional funds at much lower interest costs. More Info

Undergird our coop and small business sector

Cooperative ownership structures make it particularly hard to get conventional loans, and small businesses in general are starved for resources. A Philadelphia Public Bank could provide low-cost, sustainable financing for small business start-ups and expansion. Watch the Co-op episode of Financing Philadelphia’s Future!

Strengthen the local financial infrastructure

Community banks, credit unions, community development financial institutions (CDFIs) and other local finance-related structures are starved for resources and struggle in the shadows of the big banks. A Philadelphia Public bank could extend resources to these critical local institutions. Tune into our monthly web series, Financing Philadelphia’s Future, to learn more!