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Palo Alto to start relief fund to help small businesses during pandemic

Original post made on Apr 21, 2020

With local businesses struggling to survive the pandemic, Palo Alto is preparing to launch a relief fund to assist those that have been decimated by the economic shutdown.

Read the full story here Web Link posted Tuesday, April 21, 2020, 9:48 AM

Comments (6)

13 people like this
Posted by Hedge funds are small businesses???
a resident of Embarcadero Oaks/Leland
on Apr 21, 2020 at 12:50 pm

The reason money ran out is because the Trump administration designed the program to allow Hedge funds and publicly held companies to get money meant for small businesses, that is deplorable. In addition the big banks favored their key clients, expedited their applications. Small Business lost out. One rare and notable exception, publicly held Burger giant Shake Shack plans to return $10 million it received They got that multimillion-dollar loan through the Trump administration’s $349 billion Paycheck Protection Program. Many merchants were left waiting for a lifeline when the program ran out of money last week. Making American Great again? Hope people remember this in November, otherwise we can expect a dystopian future.

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Posted by Green Gables
a resident of Duveneck/St. Francis
on Apr 21, 2020 at 2:44 pm

Other ways to get money for small businesses; go through PayPAL for instance.

4 people like this
Posted by Don't waste taxpayer money
a resident of Downtown North
on Apr 21, 2020 at 5:58 pm

This is taxpayer money and I don't want it to go to the few property owners who run much of Palo Alto. These small businesses should apply to state and national programs. And a lottery is even worse, a few winners and mostly losers. What good does this do?

3 people like this
Posted by Anonymous
a resident of Barron Park
on Apr 22, 2020 at 12:12 am

Has anyone thought to ask some of the town's wealthiest residents like the Zuckerberg/Chan's and companies like Palantir/Peter Thiel? These folks love their town and their downtown, and known to frequent the coffee shops, restaurants, etc. They dont read this news, they will not know anyone is asking if they are not approached. Let's approach the town's wealthiest folks and make this happen.

2 people like this
Posted by Small Business Owner
a resident of Green Acres
on Apr 22, 2020 at 8:32 am

I am a small business owner, and if I were to ever win the lottery and actually see money from the city, it would just go to pay my Utilities Bills I owe to the city. Total wash. Just cancel the utility bill and save yourself the paperwork

4 people like this
Posted by squarehead
a resident of Downtown North
on Apr 22, 2020 at 10:54 am

Palo Alto is very fortunate to have a large number of highly qualified skilled retired corporate admin folks that could assist the City in the distribution of funds. Neither a lottery nor a first come, first served system seems ideal. Ask the City Council to immediately assemble a volunteer group of thoughtful, energetic and experienced group of people to help the City allocate funds judiciously. Furthermore, some of those same volunteers could be enlisted to reach out to individuals that have been more successful than others, and have a warm spot in their hearts and pocketbooks to supplement the City Council willingness to begin a "Small Business Help Fund".

While it is usual to mention the usual suspects as local deep money companies, there is likely great capacity for individuals to step up without fanfare to give back to the small businesses that make their lives, and ours, interesting and fulfilling.

The need is now!

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