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Pacific Community Fund Launches Zero-Interest LA Fire Relief Fund Loan Program to Help Affected Residents and Essential Workers

1. Pacific Community Fund initiates zero-interest loans for LA fire victims. 2. Loans target essential workers and small businesses impacted by fires. 3. ServiceNow's AI platform enhances the loan application process. 4. Funding aims to respond to federally declared disaster needs. 5. Loanees receive funds within seven days via paperless applications.

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Why Bullish?

The integration of ServiceNow's AI could increase demand for its platform, similar to past disaster responses driving tech investments.

How important is it?

The article highlights ServiceNow's technology role in a significant community support initiative, enhancing its corporate reputation.

Why Short Term?

Immediate response to current events may lead to short-term boosts in ServiceNow engagements and visibility.

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January 13, 2025 08:06 PM Eastern Standard Time PASADENA, Calif.--(BUSINESS WIRE)--Pacific Community Fund has launched the LA Fire Relief Fund zero-interest loan program to provide immediate financial relief to residents, small businesses, and essential workers impacted by the recent fires in the Los Angeles area. Zero-interest, $1,500 loans are available until February 10, 2025, or until funds are fully allocated. Visit pacific-fund.org/. Through collaborations with community-based nonprofits, Pacific Community Fund is working tirelessly to get these funds into the hands of essential workers — including housekeepers, homecare workers, and others — who have lost their livelihoods because of the fires. “We desperately wanted to do something meaningful to help respond to the tragic fires in our community,” said Pacific Community Fund CEO Filiberto Gonzalez, who is based in Pasadena, CA, which has been burned by the Eaton Fire. “As a CDFI, we are also engaging our partners in the banking industry who are seeking meaningful ways to respond to the federally declared Major Disaster.” Thanks to its proprietary financial technology software, Every1Lending, which is built on the ServiceNow ($NOW) AI platform and integrates the industry-leading Plaid API, loans will be disbursed within just seven days. Applicants will verify their identity and submit paperless applications on the Every1Lending online portal (www.every1lending.com). Cora Oriel, Chair of the Pacific Community Fund Board of Directors, emphasized the importance of supporting essential workers: “While it is a tragedy for so many of our neighbors, we do not want to lose sight of the essential workers who no longer have a source of income. The LA Fire Relief Fund will go a long way toward helping fire victims with limited options.” For more information or to apply for assistance, please visit https://pacific-fund.org. About Pacific Community Fund Pacific Community Fund, a 501(c)(3) nonprofit organization certified by the U.S. Dept. of Treasury CDFI Fund and the Small Business Administration (SBA) as a Microlending Intermediary, continues to leverage its extensive community networks to provide critical financial support. Pacific Community Fund, formerly known as National Asian American Coalition, operates with offices in the San Francisco Bay Area, Pasadena, and San Diego.

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