Pinnacle Bank teams with city to boost Northside Jacksonville business district

Pinnacle Bank teams with city to boost Northside Jacksonville business district (Courtesy of the Jacksonville Business Journal) — Pinnacle Bank has committed to provide accessible funding to commercial property owners in Jacksonville’s Moncrief neighborhood.

The program is specifically for property owners in the Myrtle-Moncrief Avenue B Business Corridor where the city said many have struggled to secure short-term financing due to perceived risk factors and the availability of short-term cash.

“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.”

This public/private partnership with Pinnacle Financial Partners will provide short-term funding with the goal of enhancing the area’s aesthetics by helping property owners revitalize their properties, the city said in the release.

In turn, it hopes to make the neighborhood safer and boost property values.

It’ll go toward property owners approved for the Myrtle-Moncrief Avenue B Business Corridor Improvement Program, per the release.

Aside from the Pinnacle Financial Partnership, the city’s Office of Economic Development has also partnered with Beaver Street Enterprise Center for technical assistance for those applying to the program.

It will help support property owners eligible for the program with completing the application and submitting all required information correctly to the city, per the release.

“Part of Pinnacle’s mission is to make a significant positive impact on the communities we serve,” Harris said. “This project is exactly what we mean by that.”