In 2008, we began our 5th Street Business Corridor Management program as a way of supporting existing business owners in our neighborhood. We provide capacity building consultation and coaching, training, marketing support, and fundraising assistance. We have been successful in helping our local business owners to raise funds that support improvements and growth.


Corridor Management
Our 5th Street Business Corridor Management initiative offers the following services to the approximately 73 local businesses in the corridor:
  • We provide consultation and technical assistance services for businesses to meet their individualized infrastructural needs, such as assistance with writing business plans, creating or improving their financial management structures, navigating legal processes related to zoning, health and safety requirements, business taxes, etc.
  • We convene a neighborhood business association to create a community network and establish the forum for sharing challenges and ideas, and we provide training sessions on relevant topics
  • We assist in creating marketing materials and strategies to draw in more customers
  • We assist with fundraising, helping merchants apply for grants from public and private sources
  • We assist businesses in securing business loans
  • We lead a facade improvement program in partnership with an architectural design firm, and conduct other beautification projects to improve the corridor’s physical appearance.
It’s also important to note that there are some things Esperanza cannot provide to the business owners in our community. Namely, we do not ourselves provide loans or other forms of financial assistance.

We are also working with the architectural design firm to create and implement a corridor improvement plan that addresses business façades and amenities (such as benches, lighting, trees, etc) on several blocks of the corridor.

These activities are funded by the Philadelphia Department of Commerce, and Pennsylvania Department of Community and Economic Development (DCED), and by private partners including Wells Fargo, Susquehanna Bank, and Aetna and Citizens Bank, through the state tax credit program.

Read about some of our recent successes with our business owners.