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The city’s new Pleasanton Business Assistance Program began accepting applications on Friday for loans designed to provide some financial help to small businesses in town fighting to cope with the effects of the COVID-19 crisis and associated shelter-in-place order.
The program, established when the City Council approved of creating a new $3 million Business Support Fund on April 15, is offering zero-interest, unsecured, short-term loans of up to $2,500 to independently or locally owned small businesses — or $2,900 maximum if they operate within downtown.
“The objective of the fund is to offer financial assistance to micro-enterprises, restaurants and retail businesses within Pleasanton to work in coordination with state and federal assistance programs,” city officials said on the new Business Support Fund webpage.
The city was scheduled to begin accepting applications online via ZoomGrants at 5 p.m. Friday (May 8). Applications will be taken on a rolling basis until the $3 million runs out.
City officials initially estimated approximately 1,100 businesses operating in Pleasanton could apply based on eligibility criteria.
“Eligible businesses must be independently or locally owned, have a physical location in Pleasanton, be in good standing with the city and have paid a City of Pleasanton 2020 business license tax by March 1, 2020,” officials said.
The employee count requirement will be based on the 2020 business license application or renewal. Qualifying micro-enterprise businesses can employ two to 10 people, and restaurants or retailers can have up to 20 employees.
To be awarded a loan, the business must be able to demonstrate “loss of revenue/income of greater than 25% due to COVID-19 (and) action taken to secure federal and state resources and financial assistance,” city officials said.
Funds can be used to cover payroll, rent, mortgage or working capital to cover operational expenses. Loans would be repaid in 24 monthly installments starting when the local emergency declaration is lifted.
Since the program is designed for small operations, city officials specified examples of businesses not eligible to apply: lending and investment institutions and insurance companies, nonprofit entities, hotels, professional services providers, home-based businesses, and illegal or other prohibited uses.
Officials said city staff will review and process applications as quickly as possible and notify applicants of their status via email within 10 business days.
Applications will be accepted only via ZoomGrants, and the applicant must first set up a ZoomGrants account. After that, click on the “Open Program” titled “2020 City of Pleasanton COVID-19 Business Support Fund” to begin an application.
Any questions should be directed to city staff only, via email at econdev@cityofpleasantonca.gov. Responses will only be given during regular business hours.
For more information, visit the city website.
Home based businesses are snubbed!
When the city organizations, police officer association and others come around for donations, home based businesses will snub them in return.
Michael – Just out of curiosity, what influence do you think city employee unions have over who the city loans money to? It sounds like you want to kill the postman because you disagree with the federal reserve’s interest rates…
Why the heck aren’t local bureaucrats requiring your Pleasanton Postman to wear a mask and gloves? Seems they are trying to kill him, and us, since the virus can be spread all through town with one sneeze on our mail. I’ve seen numerous Ptown mailmen without masks. Government is sooooo incompetent, yet we are all unconstitutionally forced to close our businesses and into house arrest!
I never mentioned city employees unions!
The police officers union and the police officers ASSOCIATION are two different organizations! However the unions do come around here for donations also, and many others.
No Michael, they’re not different organizations. The Pleasanton police officers association is the union representing the Pleasanton police officers. Feel free to check out their website or read the MOU between the police officers association and the city.