Business

L.A. Small Business Recovery Fund: Round 3 Now Open

Courtesy photo by Arthur Franklin on Unsplash

Applications for the third round of the FOUND/L.A. Small Business Recovery Fund are now open. Grant sizes range from $5,000 to $25,000.

Applications close Sunday, Feb. 21, 2021 at 11:59 p.m.

Applicants will need to submit complete applications and required documents. Those who meet the eligibility requirements will be entered into a pool of eligible applicants. On designated selection days, grant recipients will be randomly selected from this pool until funds are expended. The size of the grant will be between $5,000 and $25,000 depending on the size of the business and other factors.

Eligibility Requirements:

  • Must be located in Los Angeles County.
  • Must be a brick-and-mortar business (serving the neighborhood in which they’re located, where customers can come in or pick up from).
  • Up to five employees in March 2020 (includes full time, part time, and/or contracted workers). If you have six to 20 employees, you can apply for a FOUND/L.A. grant from Pacific Community Ventures.
  • Evidence of profitable business pre-COVID (verified by tax returns).
  • Must have annual revenue of between $30,000 and $3 million.
  • Evidence of being negatively impacted by COVID-19.
  • Company founded by February 2019.
  • Applicant must own at least 50% of the business.
  • Must be willing to complete the application process.
  • Must be willing to have your story told in FOUND/L.A. and/or TMC Community Capital’s print, digital, and audio outlets.

The Following Businesses Are Ineligible for a Found/L.A. Grant at This Time:

  • Professional service businesses (i.e. law offices, marketing agencies, accounting firms, real estate, insurance, etc.).
  • Medical offices (i.e. dental, optometry, etc.).
  • Financial Services (i.e. banks, lenders, etc.).
  • 50% or more B2B.
  • Home-based businesses.
  • 100% e-commerce companies.
  • Gig-economy workers.
  • 1099 independent contractors.
  • Cannabis-based, tobacco, liquor, & adult entertainment businesses.
  • Nonprofits, political or religious organizations.

For more information and to apply, visit tmccommunitycapital.org/lagrants.

February 18, 2021

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