La restaurants have been cleared for outdoor dining.

La restaurants have been cleared for outdoor dining.

Photo by Thomas Waper

Restaurants will appear. Pink’s Hot Dogs Inc. And LA Zoo reopened. Daily cases of coronavirus are declining, and vaccines are expanding.

After 12 months of darkness and murder, there is finally hope. But the economy has not yet recovered, and many business owners still need help.


Los Angeles Executive Director Tunawa Trash-Nutuk, for his part, said those who were able to cope with last year’s tragedy and, again, the outcry at home and abroad, were “financially and mentally exhausted.” The Los Angeles Environmental Initiative Support Corporation, which administers the Covi-19 grant program for the city and county of Los Angeles.


BSD Capital Inc., a city-based community development finance institution operating as a landmark. CEO Everett Sands agrees.


“There is still a long way to go until we reach full speed or full economy, and as we continue the epidemic every day, the demand is still there and it is probably growing,” he said.


There are already a lot of epidemic loans and grants for those businesses, and there is a lot on the way.


On February 24, Gav Gavin Newsom signed a $ 2 billion stimulus package to complement Lenderity’s small business Covide-19 grant program.


“That’s very exciting,” said Sands. We are in the throes of failure, but there is still a lot of money – no comparison.


With Thrash-Ntuk, Sands, and Nonprofits, Business Journal has compiled a list of local, state, and federal loan and grant programs recently opened or planned to open.


Wage Protection Program

How to apply Through a licensed small business management lender
Condition: open up
End time: March 31
Administered by: Approved creditors
About the program – Grandfather of CV-19 Financial Assistance Programs, this small business management program was renewed in December in the federal stimulus account.


The final round prioritizes small and largely unrepresented business owners and includes changes to help single owners and independent contractors.


In general, for first-time applicants with employees, the maximum loan amount is 2.5 times the monthly salary of an enterprise and up to $ 10 million can be used for salary, rent, mortgage interest and utilities.


This round is for those who use the first PPP loan, have 300 or less employees, and It includes loans up to $ 2 million for businesses with a 25% revenue reduction by 2020.


Businesses must apply through an SBA-authorized lender, and an interactive map of all authorized lenders is available on the SBA website. PPP loans have an interest rate of 1% and a two-year term.


Recipients do not need to repay loans if they file records to show that they have paid their wages and principal within 24 weeks of receiving the loan.

Emergency Economic Damage Accident Loans

How to apply sba.gov
Condition: open up
End time: No
Administered by: Small Business Administration
About the program – For this loan program, businesses apply directly through the SBA website. EIDL revenues can range from health care benefits and rent payments to debt and production costs.


Businesses use PPP for the same purposes.


Loans have a fixed interest rate of 3.75% and a 30-year term. Loans required for more than $ 25,000 are required. Unlike PPP, these loans are unforgivable.


To be eligible, businesses must have 500 or fewer employees. Ownership, independent contractors and many private entrepreneurs are generally eligible.


Small Business Covider-19 Relief Program

How to apply Through government-authorized partners
Condition: It will reopen on March 25
End time: March 31
Administered by: Lender
About the program: California’s new stimulus package has contributed $ 2 billion to the program – four times the previous $ 475 million allocation. The next round of applications will open on March 16 and will close on March 23 for nonprofit arts and cultural institutions, and on March 25 for small businesses and nonprofits.


Recipients receive $ 5,000 to $ 25,000 in annual income-related amounts. Funds may be used to cover employee expenses, including wages, rent and mortgage payments, expenses related to VV-19 safety protocols, and debts incurred prior to March 1, 2020.


Qualified organizations include sole investors, independent contractors, and businesses with an annual income of less than $ 2.5 million. Organizations must have a physical address in California and have been active since June 1, 2019. Applications must be submitted by government-authorized partners; Details are available at careliefgrant.com.

Small Business Stabilization Loan Program

How to apply bizstabilization.lacda.org
Condition: open up
End time: No
Administered by: Los Angeles County Development Authority
About the program – These loans range from $ 50,000 to $ 3 million and the Wall Street Journal’s core rate is 3.25%. Most businesses are eligible as long as they have a physical location in LA County and have been active for at least two years at the time of application.


Funds can be used for work capital, equipment, numbers, real estate acquisition and refinancing existing loans. The program is funded by the United States Economic Development Agency with $ 10 million.

FOUND / LA Small Business Recovery Fund

How to apply foundla.org
Condition: It will open on March 15
End time: March 21
Administered by: Pacific Community Ventures and TMC Community Capital
About the program – The fund was started by Carson-based skincare company Dermalogica owned by Jane and Raymond Wurwan. It is about to open the fourth round of applications.


To be eligible, businesses must be located in LA County and must have a brick and mortar site, fewer than 20 employees, income between $ 30,000 and $ 3 million, and the date of establishment before February 2019. -Abased businesses are not eligible.


Gift amounts vary from $ 5,000 to $ 25,000 and are equivalent to one month’s rent per employee. Winners are randomly selected.

California Reconstruction Fund

How to apply caloanfund.org
Condition: open up
End time: No
Administered by: Approved creditors
About the program – This program Established by the state in late 2020, the $ 25 million anchor commitment, including IBank, is in partnership with private lenders.


Through the program, two types of regular loans of up to $ 100,000 are available through several lenders. Terms include a fixed annual interest rate of 4.25% and a 3-year or 5-year payment plan.


To qualify, businesses must hire 50 or less full-time employees before March 2020 and have a total income of less than $ 2.5 million by 2019. After completing the pre-application online, businesses will be contacted by a participating community lender.

La Regional Covide-19 Recovery Fund

How to apply lacovidfund.org
Condition: It will reopen soon
End time: N
Administered by: Los Angeles Environmental Initiative Support Corporation
About the program – The LA Regional Covide-19 Recovery Fund is an annual partnership between the City of Los Angeles and the county to help small businesses, nonprofits and gig economists earn less than $ 100,000.


A total of $ 99.6 million was distributed to 7,322 organizations last year, with 80% of recipients identified as minority owners or minority leaders. A new round of assistance is expected by the end of this month. Sign up to report on the program’s website.

Closed space operators grant

How to apply sba.gov
Status – will open soon
End time: N
Administered by: Small Business Administration
About the Program – This targeted gift program is designed for live space operators or advertisers, film theaters, talent representatives and specific museums. To be eligible, businesses must be operational from February 29, 2020, and will be excluded if they receive a PPP loan on December 27, 2020 or later.


The amount will vary, but for those in business before January 1, 2019, grants will be equal to 45% of gross revenue for 2019 or $ 10 million.

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