One thing that has been clear through the recent weeks and months of uncertainty is the resolve of the greater Tahoe community to work together and for those who have been fortunate enough to weather the storm to help their neighbors who have not been as lucky. A number of grants, loans and funds have been developed or directed toward providing financial assistance to businesses, families and individuals in need, and one of these resources is the Resilience Fund. Photo at left: Pixabay, David Mark.
The Resilience Fund is a community effort with the stated goal of helping to deliver financial assistance, resources and guidance to businesses. The framework was developed in the Truckee and North Tahoe area and an additional area of operations has been created in order to bring the model to the rest of the Tahoe Basin as well. Incline Rotary clubs will help identify a representative for the loan intake committee for Incline businesses that apply. Embrace Incline will also be promoting the Resilience Fund-Tahoe through the Angel At Your Door business grant program.
Put into place by the Sierra Business Council, the Resilience Fund-Sierra operates within the Truckee Tahoe Airport District and is available to businesses within the district. The TTAD covers the California side of Lake Tahoe, north past Truckee and south along the lake to roughly halfway down the West Shore. Described as a grassroots loan platform that crowdsources funds from community members, the fund helps businesses with overhead and payroll expenses, to help with recovery from COVID-19 financial impacts and to purchase Personal Protective Equipment. Photo at right: Pixabay.
MOBO Law, LLP, is working with a team of community organizations to replicate the SBC’s project throughout the remainder of the Tahoe Basin, including the south half of the West Shore, across the entire South Shore and the entire Nevada side of the lake, from Incline Village and Crystal Bay to Stateline. In addition to MOBO Law, the team includes the Tahoe Chamber, the South Tahoe Chamber of Commerce, the South Lake Tahoe Tourism Improvement District, CoWork Tahoe and the Tahoe Prosperity Center. Rich Molsby, managing partner of the law firm, says, “We believe Resilience Fund-Tahoe is that perfect opportunity for donors and investors to contribute to something that will make a meaningful and immediate difference for our community.”
The Truckee-North Tahoe Resiliency Fund-Sierra reports that within less than a month of operations, there have been more than 120 applications and that 14 businesses have received micro-loans to assist with challenges faced due to the pandemic, and that more than 130 jobs have been saved as a result. Photo at left: Pixabay.
At the South Shore, the fund launched in late May with a match of $100,000 from the City of South Lake Tahoe. For the short term, the goal is to raise $1 million for the fund and to ultimately establish a fund of $5 million.
The websites for the Resilience Fund programs will provide detailed instructions for business owners wishing to apply for a loan as well as for community members wishing to invest or donate into the fund.
Heidi Hill Drum of the Tahoe Prosperity Center, noted that, “We started the #TahoeTogether campaign as a way to remind our region that we’re all in this together--no matter where around the lake. The Resilience Fund-Tahoe is an extension of that same spirit.” In the same vein, the center has compiled a guide to information and resources relating to COVID-19 and the Tahoe economy, available at the Tahoe Prosperity Center website.