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Wells Fargo Donates $20,000 to Support Small Businesses in Pasco County The bank has donated more than $150,000 in the past decade to the Pasco EDC SMARTstart Microloan Fund
The Pasco EDC is thrilled to announce a $20,000 donation from the Wells Fargo Foundation to the SMARTstart Microloan Fund. During the last decade, Wells Fargo has donated 12 times for a total of $163,000. The Microloan Fund supports small businesses and start-ups in Pasco County that are not able to receive loans through traditional means. “Small businesses are the fabric of our communities,” said Pasco EDC Board Member and Wells Fargo Pasco East District Manager J. Bradley Smith. “That’s why so much of what we do centers around helping
businesses succeed and grow. Year after year, we continue to partner with the Pasco EDC to support our local, resilient small businesses by providing financial education and philanthropic contributions.”
traditional bank loans. The fact that Wells Fargo still sees the value in our small businesses and is willing to help through a private donation speaks volumes to them as strong partners in our community.”
This fiscal year 4 microloans have been awarded to a delicatessen, packaged beverage manufacturer, online home health agency and a gourmet café totaling $147,500. In a recent testimonial a single mom with two kids said it was a struggle to get banks to support her. She used the SMARTstart CO.STARTERS program to improve her understanding of the legal, accounting, financial and property issues related to small business ownership, was approved for a microloan, and within four months of opening her studio, she was ready to expand into a larger space.
Over the lifetime the of the Microloan Fund Program, there have been 55 microloans awarded totaling just over $1.6 million to local businesses with an average loan of $34,909.
“Our SMARTstart program supports Pasco entrepreneurs and small businesses through a variety of resources,” said Bill Cronin, President/CEO, Pasco EDC. “This donation adds financial support for businesses when they are ineligible for
Contact the Pasco EDC at 813926-0827 or visit http://www. smartstartpasco.com for more information, or to consider donating to the fund.
Microloan Program 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.
About Pasco Economic Development Council:
Pasco 2020: A Story of Strength The Pasco Economic Development Council (Pasco EDC) has created a video production to encapsulate the strength and resiliency of Pasco County’s first responders, businesses, residents, elected officials, and community organizations during the COVID-19 pandemic. The virtual event, Pasco 2020: A Story of Strength, is presented by AdventHealth Dade City, AdventHealth Wesley Chapel, and AdventHealth Zephyrhills. The video was produced by Diamond View Studios utilizing footage submitted by Pasco County residents and businesses. The Pasco EDC is inviting our
community to join us live on Thursday, September 3rd at 5:30 p.m. to watch the video premiere. During a major public health crisis and economic disruption which none of us have experienced in our lifetime, the Pasco County community came together and supported one another. “This has been an extremely difficult time for everyone as they try to navigate life throughout the pandemic,” said Bill Cronin, President/CEO, Pasco EDC. “I am so grateful for the sense of community we have in Pasco County and I am proud we can share a part
of the story through this live event. The video production, true to the event name, tells a great story of strength.” To receive reminders and updates about the live event go to the Facebook or YouTube link below and select GET REMINDER, the premiere goes live promptly at 5:30 p.m. We are asking the public to comment along during the video and share it with their friends and colleagues. Ways to watch the event LIVE: Facebook, YouTube, Pasco TV: Frontier Channel 42, Spectrum Channel 643
The Pasco Economic Development Council is committed to developing Florida’s most competitive climate for business growth by providing businesses, that seek to start, move, or grow in the North Tampa Bay area, a comprehensive suite of programs that can help them to reach their full economic potential. Since 1987, Pasco EDC has fostered a strong partnership funded by corporate and public investors focused on the economic vitality of Pasco County. Discover more at www.pascoedc.com.
