DALLAS (CBSDFW.COM) – Dallas Mayor Eric Johnson announced a new initiative Tuesday aimed at helping small and medium-sized businesses.

In the past few months, many of them have taken a significant hit due to the COVID-19 pandemic.

“Capital and revenue have dissipated ​as public health concerns have taken center stage,” Mayor Johnson said.

Back in March, Johnson ​created a task force to help with economic recovery​ and asked the former President and CEO of the ​Federal Reserve Bank of Dallas to lead it.

Richard Fisher found 90% of small and medium sized ​businesses in Dallas reported they need financial assistance.​ Already, about 31,000 jobs have been lost and 250,000 are at risk. ​

“Seventy-percent of those who are at risk out of the ​big number I just gave you are Hispanics and African Americans,” Fisher said.

The city has launched Dallas Forward.

It brings private and public partners ​together to help with recovery efforts.

A number of North Texas companies including AT&T and PepsiCo have already made donations.

Through the initiative, small and medium-sized businesses will ​get access to grant and loan applications, ​reopening playbooks, PPE supplies, personalized assistance and mentorship resources.​

“Thanks to this task force we ​have the beginnings of the road map for the journey ahead,” Johnson said.

Dallas Forward is hoping anyone who ​is able to donate money or PPE supplies ​to their initiative will do so. ​

Donations can be made on the website.

Erin Jones