Pasadena Community Foundation (PCF) will launch the online application for Pasadena COVID-19 Disaster Relief Small Business Relief Fund grants on Friday, June 26th at 5:00 p.m. The Fund is a collaboration between the Pasadena Chamber of Commerce, Pasadena Community Foundation, and the City of Pasadena to assist small businesses in recovering from the economic impact of the COVID-19 crisis and resulting business closures, and will provide grants of $10,000 to storefront retail businesses.
Please CLICK HERE to review the grant guidelines and access the application, or visit the PCF website at www.pasadenacf.org. The grant application will be available starting at 5:00 p.m. on June 26, 2020. Applications will be accepted through July 10, 2020 at 5:00 p.m.
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, including 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 businesses employ Pasadena residents. Once awarded, grant funds may be used for business-related operational costs, including COVID-19-related expenses and re-opening compliance costs.
“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.”
“Successful small businesses and a healthy economy are critical to a thriving city, which is what PCF is always working towards,” said Jennifer DeVoll, Pasadena Community Foundation president and chief executive officer. “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 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.