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Instead of Federal Business Loans, LA's Street Vendors Get A GoFundMe
Dolores Moctezuma, a local street vendor, in line to receive a cash card from Inclusive Action for the City. Chava Sanchez/LAist
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The man you buy fruit from on your corner? The lady slinging your favorite tacos down the street? They're likely not eligible for loans from the federal government's coronavirus stimulus package, despite being some of L.A.'s most beloved small businesses.
That's because many of L.A.'s nearly 50,000 street vendors lack the proper documentation to apply for federal loans, operate mostly with cash, or are undocumented immigrants, according to Rudy Espinoza, director of the non-profit Inclusive Action for the City.
So others, including Espinoza's group, are stepping in to help.
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LA's Most Iconic Small Businesses Can't Get Federal Small Business Loans
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