LOS ANGELES (CNS) - Small businesses in Los Angeles that have been impacted by the coronavirus pandemic and are located in the 13th District, which includes Hollywood and Echo Park, can apply for a second round of the district's Small Business Grant Program starting tomorrow, City Councilman Mitch O'Farrell said today.
The second round will award $5,000 to businesses with an annual revenue of $5 million or less. The first round of grants in July was awarded to businesses with an annual revenue of $1 million or less, according to O'Farrell's office.
Businesses that applied during the first round of funding but did not qualify due to the revenue requirements will be automatically entered into this round, O'Farrell's office said. Those businesses will receive an alert via email to indicate their status in the program.
“Our small businesses continue to feel the impacts and uncertainty of the coronavirus pandemic,'' O'Farrell said. “This financial assistance for even more neighborhood-based establishments will help pay bills, retain workers and enable the backbone of our local economy to survive.''
The money was taken from discretionary funding that is historically used for purposes like public infrastructure projects. O'Farrell allocated $1 million in July to start the program to assist businesses in paying their bills amid the pandemic. The program is in partnership with Los Angeles' Economic and Workforce Development Department.
“COVID-19 has completely altered how small businesses operate, with many experiencing devastating economic consequences,'' EWDD General Manager Carolyn Hull said. “EWDD is proud to support CD 13's grant program, which will help alleviate some of the financial stressors currently being experienced by many local mom-and-pop shops.''
Businesses will be randomly selected among qualifying applicants to receive the $5,000 grants.
Qualifying applicants must:
-- have an established business within the 13th District, which includes parts of Hollywood, Silver Lake, Echo Park, Westlake and Atwater Village;
-- have an “active status'' with the California secretary of state;
-- provide required application documents, such as a W-9;
-- have an annual gross revenue up to $5 million and an established commercial location; and
-- have been economically affected by COVID-19.
Applications will be accepted starting at 8 a.m. Thursday and through 5 p.m. on Feb. 4. Business owners who want to apply can go to www.CD13.com.
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