FOR IMMEDIATE RELEASE
Media Contact: Ernie Gonzalez, Jr.
Pleasanton Relief Funds Available Now for Businesses
(Pleasanton, TX – June 2, 2020) The City of Pleasanton launched the Pleasanton Relief Fund in mid-April. This fund is a partnership between PeopleFund and the City of Pleasanton. PeopleFund is an SBA approved micro-lender and provides working capital for small businesses.
The Pleasanton Relief Fund provides qualifying businesses with zero interest and no payments loan for six months. There is $600,000 available for businesses located within the city limits. Businesses located outside the city may still apply for other SBA guaranteed loans offered by PeopleFund. Businesses that qualify for the Pleasanton Relief Fund 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.
“The Pleasanton Relief Fund has already provided loans to two Pleasanton businesses and there are several pending applications that are currently being processed,” says Mayor Travis Hall. “We encourage any struggling business to explore various options that PeopleFund, the SBA, or local banks have to offer,” 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 debt, payroll, accounts payable, and other bills that cannot be paid as a result of hardship.
For more information, please contact firstname.lastname@example.org or call 210.960.4340, ext. 102.