Pasco County is stepping forward to help businesses that are economically affected by COVID-19.
The primary focus will be on COVID-19-required renovations in order to protect employees and customers, according to the Pasco County website. By creating a safer environment, businesses can instill trust and confidence among employees and customers who interact with your facilities.
Here are the details:
- Loan Amounts: The maximum loan amount is determined by the project, not to exceed $120,000. For every $60,000 funded, the borrower must create or save one full-time job.
- Loan Term: The loan term will be based on the borrower’s ability to repay, generally 60 months.
- Promissory Note: Prior to receiving program funding, approved loan recipients must execute a Promissory Note with Pasco County.
Eligible funding uses:
- Alterations or modifications that follow the State of Florida guidelines, CDC Safety Measures or GBAC Star Accreditation requirements
- Repairs and modifications of existing facilities that are capital in nature
- Provide accommodations for vulnerable populations
- Improve blighted properties to ensure customers feel safe to support a resilient local economy
- Create new or retain full-time employment opportunities for low- and moderate-income eligible areas negatively affected by the COVID-19 Pandemic
Registered businesses, nonprofit organizations and property owners with locations in Pasco County are eligible for the loans.
Eligible businesses cannot have a delinquent debt to the county, and must be current on all permits, licenses, fees and taxes.
For each loan, borrowers must make capital improvements to the property, which may include bringing site improvements up to existing code.
To find out more about application requirements, email Troy Jackson, program manager, at , or call him at 727-815-7092, ext. 2350.
Published February 10, 2021
