Pasadena Community Foundation (PCF) will launch an online application portal for Pasadena COVID-19 Disaster Relief Small Business Relief Fund grants on Friday, June 26, 2020 at 5:00 pm.
By News Desk
The Fund is a collaboration between the Pasadena Community Foundation, the City of Pasadena, and Pasadena Chamber of Commerce to assist small businesses in recovering from the economic impact of the COVID-19 crisis, and will provide grants of $10,000 to storefront retail businesses.
The Pasadena COVID-19 Disaster Small Business Relief Fund is intended to augment federal, state, and local aid in supporting Pasadena businesses and sustaining the local economy. The City of Pasadena has seeded the fund with an initial gift of $500,000, with the goal of assisting 50 or more small businesses. The City will match all private philanthropic gifts to the fund up to $250,000, creating the potential for $1 million in assistance. The Fund will accept donations from individuals, businesses, and foundations.
Local storefront retail and restaurant businesses are strongly encouraged to apply. The fund will prioritize business owners who have not received financial assistance from federal and state-level COVID-19 relief programs, such as the Paycheck Protection Program. Businesses receiving grants must be located within the physical boundaries of Pasadena. The selection process will also consider local ownership and whether the business employs Pasadena residents. Once awarded, grant funds may be used for business-related operational costs, including COVID-19-related expenses and re-opening compliance costs.
Jennifer Devoll, PCF president and chief executive officer said:
Successful small businesses and a healthy economy are critical to a thriving city, which is what the Pasadena community Foundation is always working towards. The Small Business Relief Fund will play an important role in reviving existing small businesses and laying the groundwork for our city’s long-term economic and social recovery from the COVID-19 crisis.
“The Pasadena COVID-19 Disaster Small Business Relief Fund is intended to help preserve those Pasadena storefront businesses that are vital to the personality of our city’s neighborhoods and contribute to our local economy,” said Pasadena Chamber of Commerce CEO Paul Little. “We want to be sure the stores and cafés that contribute to the character of Pasadena have a chance to survive the COVID-19 pandemic.”
The City of Pasadena, Chamber of Commerce, and PCF have assembled a diverse and experienced selection committee to review all applications and make recommendations for funding. PCF will administer the fund, accept gifts, and provide acknowledgement letters for tax purposes. All gifts to the Pasadena COVID-19 Disaster Small Business Relief Fund are tax deductible.
To view the grant guidelines and access the application, visit the Pasadena Community Foundation Website, or click here.
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