The L.A. County Board of Supervisors recently voted to use Coronavirus Aid, Relief, and Economic Security (CARES) Act funds to create the Small Business Revitalization Grant Program.
Eligible applicants will receive $30,000 to use for employee payroll, working capital to continue operations, payment of outstanding business expenses and adaptive business practices needed to remain open.
The program is designed to assist businesses that have been closed due to the pandemic.
Applications for the program will only be accepted from Friday to noon, Friday, Oct. 16, 2020. L.A. County officials said the grants are time-sensitive and businesses need to apply within the time frame to be considered.
“Now that the Trump Administration has made the unconscionable decision to walk away from a stimulus package, it has fallen to Los Angeles County to do what we can to support local small businesses,” said Supervisor Janice Hahn. “We aren’t going to turn our backs on communities during this crisis. We designed these grants to help the small businesses that were disproportionately impacted by our Los Angeles County health orders.”
Applications will be ranked via a lottery and applicants will be selected in the order ranked per the lottery process. The lottery will be broadcast live at revitaliztiongrant.lacda.org on Friday, Oct. 20, 2020, at 9 a.m.
“It is unfortunate to see the impact the pandemic has had on small businesses that, through no fault of their own, have had no choice but to close their doors not knowing when they will be able to reopen. Through grant programs like the one we are announcing today, we are doing what we can to help ease the financial burdens these businesses are facing, even as some are gearing up to reopen in the near future,” said Emilio Salas, acting executive director of the Los Angeles County Development Authority (LACDA).
Businesses considering applying for the grant should note that the funds being used for these grants are extremely time sensitive. It is imperative that applicants submit all documentation required, apply by the deadline, and respond to all LACDA communications in a timely manner.