The fund will provide help to contractors, street vendors and small entrepreneurs with a cap on profits
The Los Angeles County Small Business and Business Aid Program started a new application period to obtain benefits.
“The LA COVID Fund is accepting new applications in its fourth round, providing much-needed financial assistance for small businesses, micro-entrepreneurs and non-profit organizations,” said the Mayor of the City of Los Angeles, Eric Garcetti in a message on Twitter.
The LA COVID Fund is now accepting applications for Round 4 – providing much-needed grants for small businesses, micro entrepreneurs and nonprofit organizations. Visit https://t.co/sF82f4yt5c today to learn more or contact @LAEWDD for assistance applying: https://t.co/oqRiclJo4A. pic.twitter.com/aOgPxaWC7K
– MayorOfLA (@MayorOfLA) August 31, 2020
The program grants range from $ 5,000, $ 15,000 and up to $ 25,000 for businesses and organizations that operate within Los Angeles County. In addition, it will also provide loans and microloans starting in the fall of 2020.
- Micro entrepreneurs: self-employed workers, contractors, street vendors, 1099 workers, and LLC owners with incomes less than $ 100,000 annually.
- Small traders: companies that have annual income of no less than $ 100,000 and no more than $ 1 million based on the last tax return of 2019 or 2018.
- Nonprofit organizations: 501 (C) (3) or 501 (C) (6) organizations with annual revenues of less than $ 1 million.
Where is it requested?
The fourth round of the program will accept new applications until September 4 on its website: LA Regional COVID Fund Grant Application
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