Downtown Fresno image via wikipedia user JMora24
Written by Associated Press
COVID-19 has presented a number of challenges to the progress made in revitalizing Downtown Fresno.
Most of the downtown businesses have closed their doors to comply with the City of Fresno’s emergency shelter in place order. Businesses that have remained open have experienced a 75% decrease in revenues, and only 2% have received any kind of financial assistance despite more than 85% of them applying.
In response to the crisis, the Downtown Fresno Foundation, in partnership with the Central Valley Community Foundation and JP Morgan Chase, is announcing the Re-Start Downtown Fresno Grant.
“Most downtown businesses are locally owned and don’t have large amounts of money in the bank to help keep them afloat,” said Jimmy Cerracchio, CEO of Downtown Fresno Partnership. “Through the support of the Central Valley Community Foundation and JP Morgan Chase, we hope this grant will give them a much-needed hand to replace lost inventory, pay bills and even pay employees.”
For a week starting Monday, businesses within the Downtown Fresno Property Based Improvement District area can apply for up to $2,500 in grant funding to help cover business-related expenses.
The funding is open to small businesses as well as nonprofit organizations. It can be used to pay rent, utilities, inventory, payroll and other operating expenses. It can’t be used for expansion of current business or expenses incurred after March 16.
Grantees will be chosen by a selection committee comprised of Downtown Fresno Foundation board members and staff. Interested businesses can apply at www.downtownfresno.org/business/re-start-grant.