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At its August 18 meeting, the Pleasanton City Council approved an update to the City’s Business Support Fund program which provides zero-interest, short term loans to independently or locally-owned Pleasanton businesses that have been adversely affected due to COVID-19. Loan amounts have been increased from the previous $2,500 ($2,900 in downtown) and loans will be allowed a maximum amortization of 36 months, up from 24 months, with repayment commencing on the first day of the month after the COVID-19 local emergency declaration is lifted. Professional services have also been added as an eligible business type.
Eligible businesses must 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. Employee count is based on the total reported on the 2020 City business license application or renewal. Businesses are eligible for loan amounts as follows:
- $10,000 loan amount ($10,800 in downtown) for micro-enterprise businesses employing 2-10 employees
- $20,000 loan amount ($21,600 in downtown) for businesses employing 11-25 employees
Businesses that have previously been approved for $2,500 or $2,900 loans may request to borrow the higher amounts based on employee count. Please contact the Economic Development Department at econdev@cityofpleasantonca.gov to request the increased loan amount. A revised Promissory Note and contract will be issued. New applicants can apply HERE.
For more information on program eligibility requirements and to apply for the Pleasanton Business Support Fund, click HERE.
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