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The Resilience Fund Gains Momentum in TRuckee & Tahoe

Jill Sanford

Jill Sanford

Communications Manager

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SBC is excited to share that the Resilience Fund-Sierra continues to gain traction in the Tahoe region, having now funded 19 businesses and counting. Founded to save Sierra businesses forced to close down during the pandemic earlier this spring, the Resilience Fund has provided its first wave of clients with loans, coaching, and other valuable services.

These services have been organized and administered by SBC’s Business Innovation team and made possible by generous investors in our community. From individual donors and investors to our partners at the Town of Truckee, the Truckee Tomorrow group and now South Lake Tahoe, local contributors have pooled their resources to fund this grassroots loan platform and put capital directly back into our local economy where it is needed most.

IMG 1465 1Developed directly in response to the declared economic disaster and forced closures caused by the COVID-19 crisis, the Resilience Fund-Sierra crowdsources funds from Truckee, North Lake Tahoe, and now South Lake Tahoe. It is designed to provide immediate financial assistance as well as industry resources and guidance to Sierra Nevada businesses.

While it’s tied regionally to the Tahoe area at the moment, Sierra Business Council hopes that the fund will continue to gain momentum and eventually scale to serve the entire Sierra region. On the other side of the current economic crisis, the fund will serve as a permanent loan infrastructure for our small business community to help them grow, expand, and thrive.

Resilience Fund loans (which currently max out at $25,000) are to be used exclusively on overhead, payroll, and other business expenses and/or to generate new revenue or jump-start operations, assist in recovery, and purchase PPE as required. The loan is designed for small businesses with fewer than 25 employees and priority will be given to businesses with employees who have brick-and-mortar retail, restaurant, and storefront operations.

For more details on businesses the fund is intended to support and if you qualify, please visit ResilienceFund.org.

The Sierra will bounce back from this crisis stronger than ever. Follow this link to make a direct contribution to the Resilience Fund and click here to support SBC’s behind the scenes administration of this work.

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