SMARTstartCenterState Bank Donates $5,000 to Support Small Business Growth in Pasco County
June 3, 2017
Pasco County, Fla. (June 3, 2017)—CenterState Bank has made an additional donation of $5,000 through its Community Reinvestment Act (CRA) program to support the Pasco Economic Development Council, Inc.’s microloan fund to help small business growth in Pasco County.
“We believe it is important to support small business growth in our community and Pasco EDC’s microloan program has been successful in helping entrepreneurs grow their business,” says Skip Skairus, Senior Vice President, CenterState Bank.
More than half of Americans either own or work for a small business, and they create almost two out of every three new jobs in the U.S. each year. It is a startling statistic which holds true in Pasco County, and a key reason Pasco EDC created the microloan program in April 2012 to help entrepreneurs. Thus far, Pasco EDC has awarded 32 microloans to local businesses totaling $847,500 with an average loan of $25,682.
“CenterState Bank has invested in the microloan program since its inception,” said John Walsh, Vice President of Pasco EDC. “We really appreciate their support of the small business community in Pasco County and look forward to helping more businesses over the next year.”
Walsh added that banks and business professionals should refer people to Pasco EDC who may be turned down for a loan because their borrowing needs are too small or they have limited credit history. Once they launch or grow their business, the bank can continue its relationship with them and make the next loan after they have gained more experience and sales history.
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. Contact the Pasco EDC at 813-926-0827 ext. 223 or visit www.smartstartpasco.com for more information or to consider donating to the fund.
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About Pasco Economic Development Council
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.