(Dan Corpstein | Photo courtesy of The Change Reaction)
The Change Reaction has presented Fun Star Fitness, a mobile personal training business operated by Dan Corpstein, with a $10,000 loan to assist the company in weathering the COVID–19 storm. This is the latest loan funded by the Bend Small Business Relief Fund.
The loan is part of a program called the Bend Small Business Relief Fund. This fund, supported by individual donors, provides zero-interest loans to Bend-area small businesses negatively impacted by COVID-19. The loans are interest-free and available to businesses with fewer than 15 employees and less than $1 million in annual income. All loan repayments will be ‘paid forward’ as loans to additional Bend small businesses.
Corpstein from Fun Star Fitness had this to say, “I would like to thank the Change Reaction team for being a pivotal part in my business recovery. The Change Reaction team and its partners are true heroes for local businesses.” Fun Star Fitness (funstarfitness.com) is a mobile personal training operation that focuses on health, wellness and confidence.
Launched in Los Angeles in 2019, The Change Reaction has provided more than 2,000 direct grants through 35 grass-roots organizations and hospitals, creating a movement that is being replicated in communities around the country.
The Change Reaction is a new philosophy in philanthropy that directly connects wealthy people in communities around the nation to hard-working people and businesses that are facing financial hardships in their own backyards. Greg Perlman, founder of The Change Reaction, said, “My wife and I have decided to substantially increase our philanthropy during this crisis and personally take on the City of Los Angeles, because if not now, when?”
Loans range from $5,000-$25,000 and, after a grace period of three months, are repayable in equal installments over the course of 24 to 36 months. To qualify, businesses must have normal annual revenues of $1M or less and 15 or fewer employees. Eligible businesses will be required to submit:
- Proof of 12 months rent paid on time through March 2020
- Proof of submission of the COVID-19 Economic Injury Disaster Loan Application
The Bend Small Business Loan application can be found here: forms.gle/q1XqLNmyF8rcEKsf9.
For additional information, or if you would like to donate to Bend Businesses in need, please email Tommy Waldron at: ChangeReactionBend@ffah.org.