Bank donates another $5,000 to support small business growth | Business
Pasco County, Florida -- The Pasco County EDC announced CenterState Bank has made an additional donation of $5,000 through its Community Reinvestment Act (CRA) program to support the the council's microloan fund to help small business growth in Pasco County.
"This is a great way of making possible short-term, fixed-rate, fixed-payment loans to start-ups and newly established small businesses in Pasco County,” says Skip Skairus, Senior Vice President, CenterState Bank in release. “Pasco EDC expressed a need for its microloan fund, and we believe it is important to support small business growth in our community.”
“CenterState’s donation to the fund is perfect timing,” said John Hagen, Pasco EDC President/CEO. “The microloan fund has really taken off, and we have been concerned that we might run out of money.”
Hagen is asking banks and business professionals to refer people--who may be turned down for a loan because their borrowing needs are too small or they have limited credit history, but have a great business idea--to the Pasco EDC.
“We may be able to help them,” said Hagen, “Once they launch or grow their business, the bank can continue its relationship with them and make the next loan when they are commercially viable. It’s a win-win-win.”
Loan applicants must be for-profit companies located in Pasco County, and borrowers must show they have the experience and resources to be successful business operators. Proceeds may be used for working capital, inventory, supplies, furniture, fixtures, machinery and equipment, but not to purchase real estate or to refinance existing debt.
Please call the Pasco EDC at 813-926-0827 or visit www.pascoedc.com for more information or to consider donating to the fund.
Info courtesy Pasco County EDC.