The Los Angeles County Development Authority has launched an affordable and flexible business loan program to support and help stabilize businesses in the region. Small Business Stabilization Loans range from $50,000 to $3 million, and can be used for working capital, equipment purchases, inventory, or refinancing of existing loans at higher interest rates.
The Small Business Stabilization Loan Program will accept applications through April 16, 2021, or until $20 million in funding requests is received, whichever occurs first.
The Program pairs the loan with technical assistance from partners that offer complementary online webinars, one-on-one financial consultations, application assistance, and an evaluation of a business’ readiness to submit an LACDA loan application. The final “How to apply for an LACDA loan” webinar, a pre-requisite for submitting a Small Business Stabilization Loan application, will be held on March 25, 2021, in English and Spanish.
To register for a webinar, or obtain more information on the requirements to apply for the Small Business Stabilization Loan Program, please visit BizStabilization.lacda.org, or call (626) 586-1550.
3/16/21
City Hall Scoop 