Pasco EDC
Contribute to the SMARTstart Pasco Microloan Fund
In January 2012 Pasco EDC created the Pasco Microloan Loan fund. This revolving loan fund makes small business loans possible for multiple Pasco County entrepreneurs. When loans are paid back, with monthly payments or paid-off in full, the funds are then made available for other small business applicants.
Since establishing the Pasco Microloan there have been 76 loans funded totaling $2,391,400. These loans have helped young companies create or retain 422 jobs. The total capitalization ($1,519,000) is very close to being revolved and 37 loans have already been paid off, one replaced by conventional financing.
Pasco County Commissioners helped to capitalize the fund with $930,000—including $830,000 made available from the Penny for Pasco Jobs and Economic Opportunities Trust Fund since 2016—and an additional $589,000 has been raised from private sources, including Pasco EDC funds. Pasco EDC is continuing to work to increase private donations to match the County funds and offer funding for growing Pasco companies. Other Microloan Loan donors since inception include:
- Bank of America - $10,000
- Pasco County - $930,000
- Pasco EDC - $205,000
- Rubber Resources - $1,000
- Santander - $25,000
- Saint Leo University - $50,000
- SouthState Bank - $50,000
- Suncoast Credit Union - $10,000
- SunTrust Foundation - $15,000
- Tim Tangredi - $10,000
- Wells Fargo - $213,000
With a goal to close 9 loans in 2024 and an average loan size of $31,268 we can go through the available funds very quickly, so the Pasco EDC Microloan Committee has committed to raise $25,000 in 2024.
Won’t you write a check today to help make this happen?
Contact us to contribute today
Thank you to the organizations and people who have supported the SMARTstart Microloan Fund through their generous contributions
