(Pleasanton, TX – April 16, 2020) The City of Pleasanton is pleased to announce a new funding program for businesses, called the Pleasanton Relief Fund. This is a partnership with PeopleFund, a Community Development Financial Institution certified by the US Treasury and SBA lender with statewide authority granted by the SBA.
Under this program, businesses that operate in the city limits may apply for a zero interest and no payments loan for six months. The Pleasanton Relief Fund totals $600,000 and will provide working capital to qualified businesses. Businesses may borrow up to $60,000. Borrowers will incur interest rates ranging from 5% to 12% after the sixth month depending on the risk assessment of the business, which will be determined on a case-by-case basis.
“We are pleased to be able to provide this funding opportunity to business owners,” says Mayor Travis Hall. “We know that these are challenging times for businesses, and we will invest resources to provide temporary relief to job creators during this critical time,” adds Mayor Hall.
Eligible businesses must have an established physical address in the City of Pleasanton, TX and have suffered a temporary loss of revenue due to COVID19. Loans will be awarded to eligible applicants while funds are available. These loans may be used to pay fixed debts, payroll, accounts payable and other bills that cannot be paid because of the disaster’s impact.
“Small businesses are fundamental for the recovery ahead. By joining efforts, the City of Pleasanton and PeopleFund bring together much needed capital and technical assistance that small business owners need in these moments,” says PeopleFund President & CEO Gustavo Lasala.
Applicants will be encouraged and assisted to find any available assistance prior to applying to this program.
For more information, please contact email@example.com or call 210.960.4340, ext. 102.