LOS ANGELES – Los Angeles Mayor Karen Bass announced more resources to support small businesses as part of her work to continue opening Los Angeles for business. Under the Mayor’s leadership, the City will launch two programs: LA Optimized 2.0, a program to help small businesses build and strengthen their digital presence and LApreneur, a new online learning platform created to equip entrepreneurs with key skills and information to succeed.
“We are continuing to open Los Angeles for business by offering more and new resources to help Angelenos be competitive online and new learning opportunities to help Angelenos deepen their knowledge and hone their business skills,” said Mayor Bass. “These resources are part of our ongoing work to make sure small businesses can start, grow and thrive in the city and our recommendations are directly informed by what the business community tells us is needed.”
Mayor Bass announced more resources for small businesses today:
LA Optimized 2.0 is the second iteration of a program by the Economic and Workforce Development Department that seeks to bridge the digital divide and help small businesses access the assistance they need to adapt and compete in the digital marketplace by helping businesses improve or create websites and social media channels and provide branding support. Up to 500 businesses will receive assistance with website and social media creation and up to 1,000 will be eligible to receive digital evaluation and recommendations to optimize their digital presence. This program is made possible through American Rescue Plan Act funds and an earmark appropriation made by U.S. Senator Alex Padilla.
LApreneur is a comprehensive, collaborative partnership established by the Mayor’s Office of Business and Economic Development, the City’s BusinessSource Centers, Loyola Marymount University and other partners to streamline entrepreneurship education and resources for aspiring and existing business owners. The program was developed based on recommendations provided by the Mayor’s Small Business Cabinet where members shared concerns over gaps in entrepreneurship knowledge communities of color face and the need for the City to connect microbusinesses to existing resources.
The release of new resources follows the fourth installment of the Los Angeles Region Small Business Summit, an ongoing partnership between the City and County of Los Angeles that drew more than 500 small business owners and entrepreneurs. The Summit featured panel discussions focused on opportunities and timely resources for businesses, a resource expo that convened all major public and private providers of free business support and on-site free services – including business assessment, legal aid, certification and procurement clinics, credit counseling, compliance support and permitting assistance. Previous Summits this year drew nearly 1,000 people to the events.
The Mayor continues to make progress opening Los Angeles for business by expanding City departments’ services for small businesses and improving the experience of doing business with the City. Last year, Mayor Bass issued Executive Directive 4 which directed comprehensive action at City Hall to support the creation, development and growth of small businesses through convenings like this Summit and improving the way City departments engage with small businesses. In Mayor Bass’ State of the City address, she highlighted work to bring business back to Los Angeles, including the Banc of California relocating to L.A, and her support to boost Downtown and our economy citywide by exploring the modernization of the Los Angeles Convention Center.
LOS ANGELES – Federal aid is now available for Angelenos and businesses impacted by the historic early February storms. After calling for federal assistance, Mayor Bass is encouraging residents, small business owners and other Angelenos who were impacted to apply for the low-interest disaster loans with the federal government.
“The City’s recovery began the second the storm started and continued urgently as we worked to reopen roads impacted by mudslides and established Local Assistance Centers for storm recovery,” said Mayor Bass. “I thank Governor Newsom for pushing for assistance for Los Angeles and SBA Administrator Isabel Guzman for taking action to help impacted Angelenos. If your business, your home or your organization was impacted by the early February storm, we encourage you to look into applying for the now available federal assistance.”
In February, the City of Los Angeles announced the opening of Local Assistance Centers for homeowners, renters, and business owners impacted by the early February storms that hit Los Angeles. These centers served as a one-stop shop where Angelenos could ask questions and obtain information regarding services and assistance available from government agencies and local nonprofits.
DISASTER LOAN OUTREACH CENTER:
The Virtual Disaster Loan Outreach Center opened Monday, May 20th. The Center will be open weekdays 8:00 AM PT – 4:30 PM PT. Angelenos can call (916) 735-1501 for direct assistance or email FOCWAssistance@sba.gov. The deadline to apply for property damage is July 16, 2024. The deadline to apply for economic injury is Feb. 18, 2025.
WHO CAN APPLY:
Businesses of all sizes and private nonprofit organizations may borrow up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory and other business assets. SBA can also lend additional funds to businesses and homeowners to help with the cost of improvements to protect, prevent or minimize damage from occurring in the future.
For small businesses, most private nonprofit organizations of any size, and other qualifying entities, SBA offers Economic Injury Disaster Loans to help meet working capital needs caused by the disaster. Economic injury assistance is available regardless of whether the business suffered any property damage. Disaster loans up to $500,000 are available to homeowners to repair or replace damaged or destroyed real estate. Homeowners and renters are eligible for up to $100,000 to repair or replace damaged or destroyed personal property, including personal vehicles.
HOW TO APPLY:
Applicants may apply online and receive additional disaster assistance information at SBA.gov/disaster. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services. The deadline to apply for property damage is July 16, 2024. The deadline to apply for economic injury is Feb. 18, 2025.
