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.