LISC LA is announcing that local businesses suffering from the impact of the COVID-19 pandemic may apply for grants ranging from $5,000 to $25,000.
The organization, also known as Local Initiatives Support Corporation Los Angeles, has received $100 million in additional funding for the LA COVID-19 Regional Recovery Fund. It already has awarded $3.2 million in grants to more than 300 small businesses, entrepreneurs and non-profit organizations through Los Angeles County. The new round of funding comes from L.A. County’s CARES Act ($60 million) and the City of Los Angeles ($40 million).
“While there are a variety of Federal programs designed to address the crisis, including the Paycheck Protection Program (PPP) and Economic Injury Disaster Loan (EIDL), they have critical limitations that still leave many Angelenos in need,” says an announcement of the new grant program. “LISC LA is working with local partners to reach businesses and nonprofits who may not have received federal relief funds due to financial, technical and cultural barriers.”
Businesses can apply for the next round of Recovery Fund awards by visiting LACOVIDFund.org. Businesses will only need to apply once to be eligible for future rounds. Non-profit organizations will also be eligible for $75,000 awards in a later round of funding.
The Recovery Fund programming was developed in partnership with LISC by the L.A. County Department of Consumer and Business Affairs (DCBA), the Los Angeles County Development Authority (LACDA), and the City of Los Angeles Economic and Workforce Development Department (EWDD).
Local partners providing technical assistance to the grant program include the API Small Business Program, Inclusive Action for the City, L.A. Area Chamber of Commerce, New Economics for Women, Pacific Asian Consortium in Employment (PACE), Pacific Coast Regional (PCR), The Center by Lendistry, and Vermont Slauson Economic Development Corporation.
Those who need assistance can call the L.A. County Disaster Help Center at (833) 238-4450 or visit lacountyhelpcenter.org. The Disaster Help Center can connect callers to L.A. Regional COVID Fund partners and provide the most updated fund information.