• January 15, 2021

Los Angeles to Celebrate Nation’s Largest and Most Equitable Regional Response for Struggling Businesses

Los Angeles to Celebrate Nation’s Largest and Most Equitable Regional Response for Struggling Businesses

Los Angeles to Celebrate Nation’s Largest and Most Equitable Regional Response for Struggling Businesses 801 451 Consumer & Business

LOS ANGELES – To celebrate over $100 million in grants awarded to small businesses, microentrepreneurs, and non-profits across Los Angeles County through the LA Regional COVID-19 Recovery Fund, the County and City of Los Angeles are hosting a weeklong social media celebration starting on Monday, January 18, Dr. Martin Luther King, Jr. Day.

“The County of Los Angeles has an obligation to pursue partnerships to bring much needed funding to struggling businesses and help our region recover from both a once in a lifetime pandemic and the severe inequities in the region,” said Los Angeles County Board of Supervisors Chair Hilda L. Solis, Supervisor to the First District. “I want to thank my colleagues on the Board, our partners at the City, and LISC for delivering grant funds and providing technical assistance for the most vulnerable businesses in the County.”

This unique partnership between the County and City of Los Angeles, as well its philanthropic partners, has benefited more than 7,000 Angelenos across the region. Grant awardees of the Fund received between $5,000 and $100,000 in needs-based relief. The response by Los Angeles regional government and community leaders to boost small business has been among the largest and most equitable across the nation.

“Small businesses are the beating heart of our economy, and this fund has served as a lifeline as they navigate the uncertain waters of the COVID-19,” said Mayor Eric Garcetti. “The City and County’s investments have been the difference between keeping businesses’ doors open and slamming them shut, and we’ll keep working together to deliver more relief to help these enterprises so they can start getting back on their feet while we fight to save lives.”

“Los Angeles County is home to more than 244,000 businesses, with more women-owned and minority-owned businesses than any other in the nation,” said Los Angeles County Consumer and Business Affairs Director Rafael Carbajal. “We are proud of the pain-staking work we have pursued with our partners to ensure an equitable distribution of desperately needed funding.”

Even Through Tough Times There Is Still a Reason to Shine. LA Regional Covid Fund

Many of the Federal programs designed to address the crisis had limitations which left countless Angelenos in need. Financial, technical, and cultural barriers have kept some of Los Angeles’ most vulnerable small businesses from accessing federal programs such as the Paycheck Protection Program and Economic Injury Disaster Loan. The LA Regional COVID-19 Recovery Fund addressed these issues by providing additional support to underserved communities throughout Los Angeles.

“Our approach has allowed us to uplift Angelenos at the margin of opportunity, communities who have historically faced systematic disadvantages when it comes to fully accessing financial help,” said Tunua Thrash-Ntuk, Executive Director of LISC LA, the non-profit organization administering the funds.

“When I got the grant, it was a blessing,” said Karolyn Plummer, owner of the popular Inglewood bakery Sweet Red Peach. Despite the cancellations of weddings and other events in light of COVID-19, Plummer had approached the change in business with compassion. “My conscience wasn’t there to keep their money, even though they did sign nonrefundable contracts—you can’t morally keep people’s money during a pandemic.”

Plummer’s story is just one of many who have benefited from the Fund. The weeklong campaign will highlight over a dozen local grant recipients across the region. The celebration of equity will kick off on Dr. Martin Luther King, Jr. Day.

The Fund included a technical assistance program to coordinate among local non-profits and support applicants throughout the application and funding process. This program was one of many ways the Fund addressed the gap left by Federal programs and ensured those most vulnerable and in need had equitable access to apply for the funding available.

“We are doing everything in our power to ensure even more funding is on its way!” said Carbajal.
With millions in additional grant funding on its way, the LA Regional COVID-19 Recovery Fund will convene a virtual forum on Friday, January 29th for those interested in receiving assistance to learn about upcoming opportunities.

Join the celebration of equity commencing on Dr. Martin Luther King, Jr. Day by accessing the exclusive free digital toolkit at bit.ly/RecoveryGrantToolkit. Register for the free virtual forum at bit.ly/lacovidfundregister.

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