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Announcing the Resilience Fund - Sierra, Community-Sourced Investments for Local Business Owners


The Resilience Fund - Sierra is now accepting applications.


FOR IMMEDIATE RELEASE
 

 Resilience Fund - Sierra, Now Accepting Applications from Small Business Owners Impacted by COVID-19 Temporary Closures
A long-awaited, community-sourced investment network serving Truckee-Tahoe businesses
 

(Truckee, Calif.) – The Resilience Fund – Sierra launched as a long-term loan platform leveraging community resources to provide small business owners within the Truckee North Lake Tahoe region of California financial assistance, resources and guidance to weather the COVID-19 crisis and prepare for reopening. In partnership with Sierra Business Council, the program empowers community members to help their own towns immediately. Locals and supporters of Truckee - North Lake Tahoe can invest into the fund to support economic growth. The goal of the Resilience Fund is to raise $5 million to improve 400 area businesses. 
 
The Resilience Fund aggregates donated and invested money into a revolving fund for small businesses to access as low-interest micro loans, most ranging from $5,000 - $25,000, for  use as operating capital. Businesses put through the program also access a network of professional consultants across industries to revamp existing operations, strategize communicating changes to their stakeholders, and maximize productivity during closures. Eligible businesses must have been in sound operation prior to the Covid shutdown and be able to prove how the funds will help them reopen.
 
 “Small businesses make up our town’s character and they need their communities’ help; especially now that the dust has settled from insufficient federal loan disbursements. The Resilience Fund provides much needed capital to pay for rent, employees, replace inventory, help transition to alternative service delivery models, and make strategic improvements during temporary shutdowns,” said Kristin York, vice president of business innovation at Sierra Business Council’s Sierra Small Business Development Center.
 
On the other side of the pandemic, funds will continue to be invested into the revolving loan, so small business owners can access micro loans to help with startup costs, finance capital improvement projects, improve their business model, increase their reach, and more.
 
“The vision for the Resilience Fund is to create a permanent relief structure for small business owners to handle future challenges, things like wildfire, flood, recessions, and events that impact the economy. It’s unsure at this time what future operations will look like, but with the Resilience Fund in place community members can impact their own economic success by investing and creating the foundation for long-term growth,” said Steve Frisch, Sierra Business Council president.   
 
Initial investors and supporters of the Resilience Fund include the Town of Truckee and the Truckee Chamber of Commerce through their Truckee Tomorrow public/private partnership. The Town stepped up with a $50,000 investment of public funds, and the Truckee Tomorrow private investors matched that with another $50,000 to provide direct assistance for small businesses that are the fabric of the Truckee community and critical to a long-term recovery.
 
There are many ways to invest into the community: through monetary donations made on the Resilience Fund website as charitable contributions, from accredited investors lending directly to the fund, and by devoting time and resources to coaching fellow area entrepreneurs for the betterment of our region. To learn more about the Resilience Fund – Sierra, apply for assistance from the platform, or apply to become a business coach, visit ResilienceFund.org.
 
About the Resilience Fund – Sierra
The Resilience Fund – Sierra is a long-term loan program and assistance platform for small businesses within the Truckee Tahoe Airport District. The fund sources investments from community members and supporters to provide area business owners financial assistance, resources and guidance to prevent closures due to the COVID-19 pandemic. It is administered and supported by Sierra Business Council. The Resilience Fund empowers community members to help their towns immediately, and continue investing in the long-term economic health and sustainability of rural communities. For more information and resources on the community-based resilience effort, visit ResilienceFund.org.

Media Contact: Cass Walker
Resilience Fund

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