The Antelope Valley Times

Your community. Your issues. Your news.

  • Home
  • Latest News
  • Local
    • Palmdale
    • Lancaster
    • Los Angeles County
    • Littlerock
    • Lake Los Angeles
    • Rosamond
    • Edwards AFB
    • Acton
  • Crime
  • Politics
  • Education
  • Health
  • Business
  • Opinion
    • Advertise
    • About
    • Contact Us
    • Facebook
    • Twitter
    Show Search

L.A. County receives $10.9 million in federal funds for small business loans

by The AV Times Staff • August 11, 2020 Leave a Comment

LOS ANGELES – Los Angeles County has received a $10.9 million federal grant to extend credit to struggling small businesses.

The money comes from the U.S. Economic Development Administration as part of the coronavirus relief bill signed in March. The Los Angeles County Development Authority received the lion’s share of the $38 million in revolving loan grants distributed to 14 agencies nationwide.

The LACDA will offer loans for working capital, equipment and inventory.

“We understand that keeping businesses in service means preserving a business owners’ dream, securing employment, and maintaining access to resources in a community,” LACDA Acting Executive Director Emilio Salas said. “The monetary support from EDA will reassure businesses, and residents alike that we are undergoing this crisis together.”

The LACDA was invited to apply for the grant based on the agency’s expedited business loan process and success in administering revolving loans.

More information on small business relief available through various county agencies is available at lacountyhelpcenter.org/for-business-owners.

The $2 trillion CARES Act signed into law on March 27, 2020, provides $1.5 billion to support recovery efforts for communities impacted by the COVID- 19 pandemic.

–

Filed Under: Business, Home, Los Angeles County

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recent Comments

  • Correction on California lifts stay-at-home orders: “Correction – Newssolini.” Jan 25, 14:15
  • Dr. Newsollini on California lifts stay-at-home orders: “I’m waiting for COVID-20.” Jan 25, 14:06
  • Seriously on California lifts stay-at-home orders: “1/6 of the deaths. Added on top of the other deaths. It is beyond par. Put another way at 3M…” Jan 25, 13:20
  • Stinger on LA County DA urges President Biden to end federal death penalty: “Thank you, BeeEss. Rather sad to see that you aren’t one.” Jan 25, 12:24
  • Stinger on LA County DA urges President Biden to end federal death penalty: “lol” Jan 25, 12:23

© 2021 · The Antelope Valley Times. All rights reserved. Terms of Use