|Pasco County, Florida — 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 to help entrepreneurs. Thus far, Pasco EDC has awarded ten microloans to local businesses, and earlier this year received its first complete loan payoff.
“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, but have a great business idea. 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. Please call the Pasco EDC at 813-926-0827 or visit www.pascoedc.com for more information or to consider donating to the fund.
Photo: Skip Skairus, Senior Vice President, CenterState Bank and John Hagen, President/CEO of Pasco Economic Development Council, Inc.