Found/la Small Business Recovery Fund
COVID-19 has devastated the small business communities across the nation, hitting hardest in larger states and dense metropolitan areas like New York, San Francisco and FOUND/LAs hometown of Los Angeles, with roughly 20 businesses per thousand temporarily or permanently closing their doors since March 1 .
From local restaurants and retail storefronts to neighborhood salons and coffee shops, over the last year we have seen the pandemic take an economic and emotional toll on far too many small businesses who are now forced to close their doors. Business owners like MaryAnne have had to give up their bricks and mortar locations and move their businesses completely online.
Across the country we know minority entrepreneurs and small businesses face the greatest challenge, as long-standing issues like inequitable access to access to capital have only been amplified by the pandemic. By the end of April, nearly half of all Black small businesses in the US had already shuttered, Latinx business owners fell by 32% and Asian business owners dropped by 26% . Federal relief packages like the PPP loan often failed to reach those who needed it most, with only 2% going to minority-owned businesses .
With local restrictions still in place and COVID-19 cases on the rise, we must do everything we can to prevent further closures. As Los Angeles remains at the top of the list for small business closures to date , we see the heart and soul of our local community is in jeopardy.
Real Customers Real Satisfaction
Term Loan
“Ive worked with many lenders on various types of deals in the past and you stand out as what I believe to be the best. You shot straight from the start with no over inflated promises. You delivered on everything you projected and asked me to concede to nothing. Every aspect of the deal was exactly how you explained it from the start, and the requests you made to get it closed were completely reasonable. These aspects of your service I value greatly, and I look forward to our next deal! I hope to complete many more with you in the future and like I said when we spoke after closing, youre worth every penny!”Thomas, Owner, Virginia
Term Loan
Im writing this short note to thank you and your team for all the expertise, assistance and patience you exhibited with the closing of my loan for the recent buyout of my agencys four partners. In the beginning of the underwriting process, I didnt think the outcome I wanted was going to be possible. I thought my partners demands and the complexity of the transaction was going to be too much. Your understanding of my business, coupled with your loan creativity and determination, made this happen for me! Thank you again!”Dustin, Owner, Georgia
Application Review And Approval Process
Applications are open from February 24, 2022 at 9:00 a.m. through March 26, 2022 at 5:00 p.m. . Applications may be submitted electronically, through the City’s online form available here: . The City will also accept written applications mailed or dropped off to the attention of the City of Citrus Heights Accounting Manager at 6360 Fountain Square Drive, Citrus Heights, CA 95621.The City will not accept applications after the application period closes. .
The application process will include:
- Business submits application with required documents: Business License Certificate, 2019 and 2020 OR 2021 Filed Business Tax Returns, and W9
- City reviews application and supporting materials
- City determination of business eligibility and grant amount
- A discretionary administrative level review process by may be used if the program is oversubscribed
- Initial application period will be 30 calendar days subsequent rounds may be initiated if funds are not exhausted during initial round
- The City Manager or his/her designee will make all final decisions on Program eligibility and adherence and any related interpretations necessary to make a grant decision.
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Apply Now For A $10000 Grant For Personal Care & Retail Businesses
LOS ANGELES Los Angeles County businesses in the personal care and retail sector can apply for $10,000 grants starting Monday and through the end of the week.
The LA Regional COVID Fund distributed nearly $100 million in grants last year to small businesses and nonprofits, and this new round of funding dedicates $4.7 million to personal care and retail businesses.
Los Angeles County businesses in the personal care and retail sector can apply for $10,000 grants starting Monday and through the end of the week.
The LA Regional COVID Fund distributed nearly $100 million in grants last year to small businesses and nonprofits, and this new round of funding dedicates $4.7 million to personal care and retail businesses.
The county chose the personal care and retail sector for the grants because those businesses were among the most impacted by the pandemic, as restrictions forced closures for much of 2020, officials said.
As our business community works towards a safe in-person reopening under the updated COVID-19 guidelines, the County and LISC LA are moving tirelessly to ensure financial support is reaching those hit hardest by the pandemic, said Tunua Thrash-Ntuk, executive director of Local Initiatives Support Corporation Los Angeles, which serves as the programs administrator.
We are doing our part to ensure local economies across the county are able to bounce back after the pandemic, she said.
Business owners can apply for the grant here.
Keep Our Shops On The Block
If you own a restaurant, retail, or personal care business in LA County, you may be eligible for a $10,000 “Keep Our Shops on the Block” grant to help out your business! Applications started Monday, April 5 and are due by April 11th. For more information, visit http://lacovidfund.org or call 238-4450. More rounds will be available starting in late April.
Disaster Assistance Loans for Small Business Owners in LA County Affected by Civil UnrestBusinesses of all sizes and private nonprofit organizations may borrow up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory, and other business assets. SBA low-interest loans can also help businesses with the cost of improvements to protect, prevent, or minimize the same type of disaster damage from occurring in the future.There are two important deadlines to apply for assistance from SBA. Business owners must file an application by August 17, 2020, for property damage applications and by March 17, 2021, for economic injury applications. There are several ways to apply:
Complete an application online at disasterloanassistance.sba.gov
Call SBAs Customer Service Center at 659-2955 or email for more information on SBA disaster assistance.
Individuals who are deaf or hard of hearing may call 877-8339.
Guidance for Businesses Re-Opening
LACovidFund.org has grants and loans available for small businesses and entrepreneurs.
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La County Small Business Resiliency Program
Due to an overwhelming response, the grant portion of this program is now closed. If you applied prior to July 2, 2021, you are still eligible to be considered for the grant. Click HERE to continue with technical assistance.
The Los Angeles County Small Business Resiliency Program offers valuable business advising to small businesses throughout Los Angeles County to support their recovery from the COVID-19 pandemic and resiliency against future disruptions.
An Equity Lens To Grant
Grant winners were chosen through a randomized application system. In order to support the most vulnerable in our communities, applicants that meet the following criteria were weighted more heavily in the randomized application system:
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Entities located in or primarily serving low-to-moderate income census tracts, as defined by HUD. Donât know if you qualify? Check here!
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Veteran-owned small businesses
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Census tracts that are disproportionately burdened by, and vulnerable to, multiple sources of pollution, per the CalEnviroScreen map.
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City and county districts that have a higher unemployment rate, lower education rate, lower median household income, and lower jobs-to-population rate.
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Sba Paycheck Protection Program
The Paycheck Protection Program is a loan designed to provide a direct incentive for small businesses to keep their workers on the payroll. Learn more.
SBA Economic Injury Disaster Loan Emergency Advance
The SBAs Economic Injury Disaster Loan advance provides vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing as a result of the Covid-19 pandemic. Loan advances of up to $10,000 are available to provide economic relief to businesses that are currently experiencing a temporary loss of revenue. Learn more.
Who Qualifies For Business Assistance In Los Angeles
To be considered for this grant you must:
- Have a business with a physical commercial
- Possess a business registration certificate in LA
- Have been active before March 1, 2020
- Have no annual earnings greater than $5 million
- In addition to these requirements, the merchant must have, at least, a debt of $2,500 in rent
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Small Business Grant Eligibility
Eligible business owners can apply for grant support during open application windows. Applicants will submit complete applications and required documents. Those who meet the eligibility requirements listed below will be entered into a pool of eligible applicants. On designated selection days, grant recipients will be randomly selected from this pool until funds are expended. The size of the grant will be between $5,000 and $25,000 depending on the size of the business and other factors.
- Must be located in Los Angeles County
- Must be a brick-and-mortar business
- Between 6 20 employees . If you have 5 or fewer employees you can apply for a FOUND/LA grant from our partner TMC Community Capital
- Evidence of profitable business pre-COVID
- Evidence of being negatively impacted by COVID
- Company founded by February 2019
- Applicant must own at least 50% of the business
- Must be willing to complete the application process
- Must be willing to have your story told in FOUND/LA and/or PCVs print, digital, and audio outlets.
The following businesses are ineligible for a FOUND/LA grant at this time:-economy workers 1099 independent contractors Cannabis & tobacco-based businesses Adult entertainment businesses Professional service businesses Medical offices Home-based businesses 100% e-commerce companies Businesses that are more than 51% B2B Nonprofits, political or religious organizations.
La Small Businesses Can Access A Free 24/7 Pandemic Recovery Counseling Program
Stay informed about local news and weather in Southern California. Get the NBC LA app foriOSorAndroidand pick your alerts.
Merchants who wish to apply for these funds can go to one of the 10 available business centers in the city, where they can receive help filling out the application form. They can also go to your business to provide that assistance for free or do it virtually.
For a list of these centers in the city of LA, click here.
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Keep La County Dining Grant Program
To provide a boost to struggling local restaurants during the pandemic, $10.05 million from the CARES Act was used to create the Keep LA County Dining grant fund. These $30,000 grants were awarded to 335 small businesses and could be used for working capital only, including employee payroll and updated business practices to remain open and in line with public health requirements. Meet the owner of Natural World Goods in Redondo Beach who, thanks to the Keep LA County Dining program, was able to keep her doors open and her employees working.
Small Business Grant Program Opens Thursday
LOS ANGELES â Small businesses in Los Angeles that have been impacted by the coronavirus pandemic and are located in the 13th District, which includes Hollywood and Echo Park, can apply for a second round of the district’s Small Business Grant Program starting Thursday, City Councilman Mitch O’Farrell said Wednesday.
The second round will award $5,000 to businesses with an annual revenue of $5 million or less. The first round of grants in July was awarded to businesses with an annual revenue of $1 million or less, according to O’Farrell’s office.
What You Need To Know
- Small businesses in L.A. that have been impacted by the coronavirus pandemic and are located in the 13th District can apply for a second round of the district’s Small Business Grant Program starting Thursday
- The second round will award $5,000 to businesses with an annual revenue of $5 million or less
- The first round of grants in July was awarded to businesses with an annual revenue of $1 million or less
- Applications will be accepted starting at 8 a.m. Thursday and through 5 p.m. on Feb. 4
Businesses that applied during the first round of funding but did not qualify due to the revenue requirements will be automatically entered into this round, O’Farrell’s office said. Those businesses will receive an alert via email to indicate their status in the program.
Businesses will be randomly selected among qualifying applicants to receive the $5,000 grants.
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Small Business Development Centers
The U.S. Small Business Administration administers the SBDC. It gives up-to-date advice about how to manage a small business and can even help you apply for grants. It can also help you with problems like money, marketing, production, organization and engineering. Think of the SBDC as a private consultant without the expense.
Toolkit For Local Governments
LISC LA has developed a toolkit, with funding from Wells Fargo, that offers several small business policy agenda ideas and innovative solutions for local governments to consider. Compiled through in-depth research and reports from LISC LAs dozens of community-based partners on the front lines of this crisis, the toolkit includes seven immediate recommendations for mitigating the impact of the pandemic. Learn more.
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Pandemic Unemployment Assistance Resources
LISC LA as a part of our Financial Partnership Community of Practice, a peer-to-peer interaction for financial coaching staff builds connections that lead to knowledge sharing opportunities, which is very important at this time. Heard from industry leaders from Bet Tzedek on the nuances of the Pandemic Unemployment Assistance benefit for gig economy and independent workers. Learn more.
City Of La Small Business Rental Assistance Program
On April 18, EWDD is launching the City of LAs Small Business Rental Assistance Program, which will provide $12 million in grants to eligible businesses located in the City that need financial assistance to aid in their recovery from COVID-19. Grants will be of up to $15,000 or six months of back rent, whichever is less. Applications are due May 6.
The grant may be used for rent payments that are in arrears that were incurred on or after March 1, 2020. To be eligible, businesses must be for-profit and have a brick and mortar storefront location located and operated within Los Angeles city limits. Businesses must also provide lease agreements and proof confirming that back rent is owed.
Grant Eligibility RequirementsBusinesses must demonstrate the need for financial support due to the impact of COVID-19 and meet the following criteria:
- Must be for-profit business and located within Los Angeles city limits.
- Must have a brick and mortar storefront location.
- Must provide lease agreements.
- Provide proof confirming that back rent is owed.
- Provide their landlords contact information.
- On a case-by-case basis, other documentation may be needed to establish eligibility.
Ineligible Businesses
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Let’s Start Your Business Loan Today We Know We Can Help You
California loans made by Wildhawk Capital LLC are pursuant to and in compliance with, the California Department of Business Oversights Finance Lenders Law, License No. 60DBO-73198. Credit approval is subject to Wildhawk Capital LLCs credit standards and actual terms may vary by applicant. Complete disclosures of APR, loan fees and payment terms are provided with each loan and are available from our office.
Wildhawk Capital Offices:2900 Bristol St, Ste C205
Costa Mesa, CA 92626
Finding A Small Business Grant In Los Angeles Can Be A Pain But Not At Womensnet
Its easy to find sites offering grants to women-owned businesses. Youll likely have a choice of daunting government websites and the time consuming paperwork that comes with them or private sites that seem a bit shady.
Dont worry. For 20+ years, WomensNet has helped business owners find real grants, loans, and other funding for your woman-owned business. Yes, you still have to put in some sweat equity. But the good news is this: if youre serious about launching or growing your business, youll find our site is a key resource.
A good start is with our Amber Grant for Women. Women entrepreneurs from Los Angeles can apply for this grant. Heres how it works
Our judges award one $10,000 Amber Grant every month. If you win, you automatically have a chance to be awarded our $25,000 year-end Amber Grant. Imagine what $35,000 in total grant funds would mean for your business.
Want more chances to get funding? Interested in business advice? Take a minute to view the resources below. Youll be surprised to discover additional places ready to help women business owners in Los Angeles. Good luck in your search.
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District 13 Small Business Grant Program Deadline Extended To Feb 11
LOS ANGELES The deadline for small businesses to apply for the second round of grants through Los Angeles District 13’s Small Business Grant Program was extended to Feb. 11, Councilman Mitch O’Farrell announced Thursday.
Businesses in the 13th District, which includes parts of Hollywood, Silver Lake, Echo Park, Westlake and Atwater Village, can apply for grants to help with impacts caused by the pandemic.
The application deadline was previously scheduled for 5 p.m. Thursday.
The second round will provide $5,000 to businesses with an annual revenue of $5 million or less.
In July, businesses with an annual revenue of $1 million or less were given grants, according to O’Farrell’s office.
Businesses that applied during the first round of funding but did not qualify due to the revenue requirements will be automatically entered into this round, O’Farrell’s office said.
Those businesses will receive an alert via email to indicate their status in the program.
“Our small businesses are hanging by a thread to survive because of the devastating impacts and uncertainty of the Coronavirus pandemic,” O’Farrell said. “This additional round of financial assistance will help even more neighborhood-based establishments pay bills, retain workers and help support our local economy when it needs it most.”
Qualifying applicants will be randomly selected to receive the $5,000.
Qualifying applicants must:
Applications will be accepted from 8 a.m. Thursday until 5 p.m. on Feb. 11.
- In: