How a Federal Stimulus Could Help LA's Small Businesses During the Pandemic
If you own or work for one of California’s nearly four million small businesses, we know you're hurting right now. But help is on the way in the form of a massive $2 trillion stimulus package, which Congress approved today.
The stimulus contains $349 billion in loans to small businesses and nonprofits with less than 500 employees. People who are self-employed or gig workers also qualify. These loans can be forgiven if business owners use the money to keep employees on the payroll, rehire laid-off employees, or pay their rent, mortgage, utilities or any other business-related debts.