One year ago, Congress defunded public media. Now that we're 100% community funded, please become a sustaining member or increase your existing membership today.
LA Offers $5,000 Grants To Small Businesses Hit Hard By The Pandemic
Small businesses in Liemert Park
(
Chava Sanchez/LAist
)
Los Angeles small business owners still feeling the financial impact of the COVID-19 pandemic now have a chance to receive $5,000 through a new city-sponsored program.
Announced today by Mayor Eric Garcetti, the Comeback Checks Grants Program will award money to 5,000 businesses located in the city. The selection process is random. Business owners can apply during three application periods. The first one starts today, Oct. 26, and ends Tuesday, Nov. 2.
“With this investment, the city is doubling down on our work to help small businesses recover and thrive,” Garcetti said.
Carolyn Hull, General Manager of the City's Economic and Workforce Development Department, which will oversee distribution of the grants, thinks the program is a much-needed boost.
“Angelenos are resilient, and these grants offer our small businesses financial support to fortify and propel their journey toward economic recovery," Hull said.
A total of $25 million dollars will be handed out through the program, which is being funded from the $1.2 billion allocated to L.A. through the American Rescue Plan. The stimulus plan, signed into law by President Joe Biden in March, guaranteed nearly $2 trillion in aid to municipalities for COVID-19 recovery.
Other programs are in place to help shore up business during the pandemic:
- Small Business Microloan Program: This L.A. city program offers loans from $5,000 to $50,000 for businesses with 25 employees or less.
- The L.A. Regional COVID-19 Recovery Fund: In partnership with the county of Los Angeles, it offers grants to small businesses and individuals who are self-employed.
- Money Management International: Small businesses in the city of L.A. can get free financial counseling, education and debt repayment assistance.
One year ago, Congress voted to defund public media, eliminating a critical $1.7 million from our budget every year going forward. But they couldn’t silence us, and we’re not going anywhere. LAist is now 100% community funded and that means we’re taking our future into our own hands and turning to you to keep local reporting strong.
You come to LAist because you want independent reporting and trustworthy local information. Our nonprofit newsroom doesn’t answer to shareholders looking to turn a profit. Instead, we answer to you and our communities. We are free to follow facts wherever they lead and to hold power to account without fear or favor. Our only loyalty is to our readers and listeners and our mission: to inform, engage, and strengthen Southern California’s communities.
If this story helped you, please become a monthly member today to help sustain this mission. It just takes 1 minute to donate below.
You come to LAist because you want independent reporting and trustworthy local information. Our nonprofit newsroom doesn’t answer to shareholders looking to turn a profit. Instead, we answer to you and our communities. We are free to follow facts wherever they lead and to hold power to account without fear or favor. Our only loyalty is to our readers and listeners and our mission: to inform, engage, and strengthen Southern California’s communities.
If this story helped you, please become a monthly member today to help sustain this mission. It just takes 1 minute to donate below.
Senior Vice President News, Editor in Chief
