Launching this program to support California’s small businesses—especially those located in economically disadvantaged and historically under-banked areas of the state.
The loans are flexible, transparent and are designed to help businesses access the capital and advisory services they need to get through these challenging economic times.
Please note, this program is not associated with the federal Paycheck Protection Program (PPP) or any other SBA program. The loans are not forgivable in part or whole. The loans will need to be paid back over a 2- to 5-year term with a fixed annual interest rate.
Businesses who employed 50 or less full-time equivalent employees (FTEs) and had gross revenues of less than $2.5 million or below in 2019 are eligible to apply.
Full eligibility requirements are here
Supporting micro-entrepreneurs, small businesses, and non-profits across LA County
In response to the devastating effects that COVID-19 is having on the local economy, the County of Los Angeles and the City of Los Angeles, in partnership with institutional and corporate philanthropy, have come together to create the LA Regional COVID-19 Recovery Fund.
The regional fund will offer loan and grant resources to micro-entrepreneurs, small businesses, and non-profits.
Notice: Now Accepting New Applications for Economic Injury Disaster Loans and Advance
In response to the Coronavirus (COVID-19) pandemic, small business owners in all U.S. states, Washington D.C., and territories are eligible to apply for an Economic Injury Disaster Loan which includes an advance of up to $10,000.
This loan advance will not have to be repaid. The advance is $1,000 per employee.
The Small Business Angel Fund is a unique, interest-free loan program for small essential businesses located in Council District 12.
To be eligible, businesses must be located in the Twelfth District, submit proof of 12 months of timely paid rent through March 2020, and have submitted an Economic Injury Disaster Loan Application to the U.S. Small Business Administration. The application for the Small Business Angel Fund can be found here.
California iBank Small Business Finance Center
The SBFC helps businesses create and retain jobs, and encourages investment in low- to moderate-income communities.
California Capital Access Program (CalCap)
Designed to encourage banks and other financial institutions to make loans to small businesses that have difficulty obtaining financing.
CDC Small Business Finance Emergency Relief Loans
Offering two emergency relief small biz loans:
Crowd-Funding is a non-traditional way to raise debt-free funding for your business without having to give up equity. There are many options to do this, but below is a place to start.
SBDC - Small Business Development Center. Find your closest office and make an appointment and have someone guide you through your
application process.
LA County Business and Worker Disaster Help Center - Created to help businesses & employees get the information they need. Includes a business concierge service.
Business Source Center - The Los Angeles BusinessSource Centers provide startup ventures and current small business owners various cost effective tools to make their business a success. Through these tools, small businesses can grow and remain competitive within the City of Los Angeles. Most services are provided at NO COST to LA business owners and resident entrepreneurs.
San Fernando Valley Business Resource Guide
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