By Ricardo Roura
02 Dec 2024, 20:01 PM EST
Small businesses can get financial help from a grant program that launched Los Angeles County.
The program has contemplated provide grants of up to $584,000 dollarsaimed at small businesses and non-profit organizations.
He Department of Economic Opportunities (DEO) Los Angeles County, along with the Asian Pacific Employment Consortium (PACE), launched the Economic Opportunity Holiday Grant Program, intended to provide support to businesses still recovering from the coronavirus pandemic.
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“At DEO, we know how important our small businesses and nonprofits are to our economy. We also know how important capital is for small businesses for recovery, growth and innovation“said DEO Director Kelly LoBianco.
The director said that the department is happy to announce the launch of the program, which aims to continue to offer capital opportunities for the entrepreneurial community.
It was reported that the resources are part of the DEO Economic Opportunity Grant Programwhich has already awarded $55.7 million this year to 5,151 small businesses and nonprofits most affected by the pandemic and other economic disruptions.
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The grants are financed through the American Rescue Plan Act and the State Office of the Small Business Advocate.
Los Angeles County Supervisor Holly Mitchell said she couldn’t think of a better way to celebrate Small Business Saturday than expanding the financing opportunity to small businesses.
“Through the county’s Economic Opportunity Grant Program, We are equitably distributing American Rescue Act dollarse to help Los Angeles small businesses, including women-owned businesses and Black businesses that have historically faced limited access to capital,” Mitchell said.
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PACE’s director of operations, William Chun, assured that the organization was excited to partner with county leadership and the Department of Economic Opportunity to launch the program.
Applications were opened from this Saturday, November 30 and They remain available until the New Year holidaywhile the resources will be distributed in February 2025.
If you would like more information, you can consult the Los Angeles County Department of Economic Opportunity website through this link.
Keep reading:
· COVID: City of Los Angeles will provide $12 million in support to small businesses for back rent payments
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· Women small business owners in Los Angeles can apply for financial assistance of up to $15,000.