Pinnacle Financial Partners has committed to providing short-term financing to commercial property owners located within the boundaries of the Myrtle-Moncrief Avenue B Business Corridor (“corridor”). Many property owners there have struggled to secure short-term financing due to perceived risk factors and the availability of short-term cash.
 
The objective of the corridor is to enhance the area’s aesthetics by helping property owners revitalize their properties, which in turn will help to make the neighborhood safer and increase property values.
 
Pinnacle has agreed to provide short-term project financing to property owners approved for the Myrtle-Moncrief Avenue B Business Corridor Improvement Program, creating accessible funding for property owners.
 
“This is another winning partnership with the city that will help reignite growth in the community,” said Brenda Bellard Harris, Community Development Coordinator at Pinnacle’s Riverside office in downtown Jacksonville. “This corridor is just five minutes from our new office on Riverside, so to be able to play a part in its renewal is an honor. Part of Pinnacle’s mission is to make a significant positive impact on the communities we serve. This project is exactly what we mean by that.”
 
The City is grateful to Pinnacle for its continued support and for providing the community with this tremendous resource.
 
In addition to the Pinnacle Financial Partnership, the Office of Economic Development has also partnered with Beaver Street Enterprise Center (“BSEC”) for technical assistance for those applying to the program. The technical assistance from BSEC will support property owners eligible for the program with completing the application and submitting all required information correctly to the city.