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18
City of Pleasanton
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CITY CLERK
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AGENDA PACKETS
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2020
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081820
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18
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8/13/2020 11:32:47 AM
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CITY CLERK
CITY CLERK - TYPE
AGENDA REPORT
DOCUMENT DATE
8/18/2020
DESTRUCT DATE
15Y
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OPTION 1: Extend the current program and double the loan amount, such that: <br /> o Micro-enterprises with 2-10 employees and retail and restaurants with less than 20 <br /> employees would be eligible for $5,000 total. <br /> • Businesses that have already received a loan of$2,500 could request an <br /> additional $2,500 for a total loan of $5,000. <br /> • Businesses new to the program could apply for a loan of $5,000. <br /> The monthly repayment of$5,000 would be $208.33 over 24 months. <br /> o Micro-enterprises with 2-10 employees and retail and restaurants with less than 20 <br /> employees located in the downtown would be eligible for $5,800 total. <br /> • Businesses that have already received a loan could request an additional <br /> $2,900 for a total loan of $5,800. <br /> • Downtown businesses new to the program could apply for a loan of$5,800. <br /> The monthly repayment of$5,800 would be $241 .67 over 24 months. <br /> OPTION 2: Amend the program to provide larger loan amounts and expand the <br /> eligibility for businesses with 11-25 employees, such that: <br /> o Micro-enterprises with 2-10 employees would be eligible for $5,000 total. <br /> • Businesses that have already received a loan could request an additional <br /> $2,500 for a total loan of $5,000. <br /> • Businesses new to the program could apply for a loan of $5,000. <br /> The monthly repayment of$5,000 would be $208.33 over 24 months. <br /> o Micro-enterprises with 2-10 employees located in the downtown would be eligible <br /> for $5,800 total. <br /> • Businesses that have already received a loan could request an additional <br /> $2,900 for a total loan of $5,800. <br /> • Downtown businesses new to the program could apply for a loan of$5,800. <br /> The monthly repayment of$5,800 would be $241 .67 over 24 months. <br /> o Businesses — no longer limited to retail and restaurants— with 11-25 employees <br /> would be eligible for $10,000 total. <br /> • Businesses that have already received a loan of$2,500 could request an <br /> additional $7,500 for a total loan of$10,000. <br /> • Businesses new to the program could apply for a loan of $10,000. <br /> The monthly repayment would be $416.67 for 24 months. <br /> o Businesses — no longer limited to retail and restaurants— with 11-25 employees <br /> located in the downtown would be eligible for $10,800 total. <br /> • Businesses that have already received a loan of$2,900 could request an <br /> additional $7,900 for a total loan of $10,800. <br /> • Downtown businesses new to the program could apply for a loan of$10,800. <br /> The monthly repayment would be $450 for 24 months. <br /> Page 5 of 6 <br />
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