Duval Times

Pinnacle Financial Partners has announced a collaboration with the city to offer short-term financing to commercial property owners within the Myrtle-Moncrief Avenue B Business Corridor. The partnership aims to address difficulties faced by property owners in securing short-term loans due to risk perceptions and limited cash availability.

The corridor's goal is to enhance the area's appearance by supporting property owners in revitalizing their properties, which is expected to improve neighborhood safety and increase property values.

Pinnacle is set to offer short-term project financing to property owners participating in the Myrtle-Moncrief Avenue B Business Corridor Improvement Program. This initiative ensures property owners have access to necessary funding.

“This is another winning partnership with the city that will help reignite growth in the community,” stated Brenda Bellard Harris, Community Development Coordinator at Pinnacle’s Riverside office in downtown Jacksonville. She further remarked, “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 expressed gratitude towards Pinnacle for its continued support, providing the community with valuable resources.

Additionally, the partnership includes the Office of Economic Development's collaboration with Beaver Street Enterprise Center (BSEC) to offer technical assistance to those applying for the program. BSEC's support will help property owners complete applications accurately and submit necessary information to the city.