The nonprofit LISC LA Tuesday announced it has partnered with the county and city of Los Angeles and philanthropic agencies to oversee and manage a COVID-19 regional recovery fund to assist local organizations financially affected by the pandemic.
The recovery fund will provide financial relief and recovery tools for small businesses, nonprofits that provide essential services, immigrant-owned enterprises and vulnerable Angelenos affected by COVID-19.
The first phase of the program includes a $3 million grant fund for microenterprises, small businesses and nonprofits.
“LISC LA is proud to be selected as a fund administrator to help lead this economic recovery initiative that includes administering loans, grants, technical assistance and other resources to local entities throughout the LA region,” said Tunua Thrash-Ntuk, the LISC LA executive director.
“Small businesses and organizations in low-income and underserved communities cannot wait any longer for relief and recovery efforts during these difficult times,” Thrash-Ntuk added.
The economic stress caused by COVID-19 has been “particularly damaging” to small businesses and organizations that have been unable to access federal funding due to size, lack of technical assistance and cultural barriers, LISC stated.
More information on the regional recovery fund is available at www.lisc.org/los-angeles/.
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