File photo
File photo
The Dallas Entrepreneur Center Network (DEC Network) has partnered with private businesses, the LiftFund, and the Communities Foundation of Texas to create a $5 million fund designed to provide aid to small businesses and entrepreneurs who have faced hardship as a result of the COVID-19 pandemic.
According to an online article in D Magazine, more than $1 million has been pledged to the Revive Dallas Small Business Fund to assist in the pandemic recovery with donors including several banks; CEO and founder of Axxess John Olajide; LinkAmerica CEO Andres Ruzo; Dallas area Chambers of Commerce; and Mayor Eric Johnson.
“When the pandemic struck, the DEC Network sat down and decided that our mission to help entrepreneurs start building their small businesses has never been more important than it is today,” DEC co-founder and executive chairman Trey Bowles told D Magazine. Bowles went on to explain that the Revive Dallas Small Fund has focused its assistance on "minority- and woman-owned small businesses" that did not receive federal assistance from the Paycheck Protection Program.
Applicants must be Dallas-based and are eligible to receive a $25,000 loan that includes non-monetary resources and mentorship, with recipients gaining loan forgiveness after meeting certain milestones, according to the article.
Alerts Sign-up