The sixth and final round for small businesses to apply for grants of $5,000 to $25,000 through the Los Angeles Regional COVID-19 Recovery Fund opened Monday and runs through Friday.
The grants are part of a $100 million program, and the city and county have partnered with the Local Initiatives Support Corporation Los Angeles to serve as the fund administrator. LISC is organization that has more than 40 years of experience connecting communities to resources and opportunities.
“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,” said Tunua Thrash-Ntuk, executive director of LISC LA. “LISC LA is proud to help lead this economic recovery initiative that includes administering loans, grants, technical assistance and other resources to local entities throughout the L.A. region.”
LISC LA has implemented a bilingual paid digital advertising and grassroots outreach campaign designed to reach those who have been hit hardest by the pandemic.
Since the grant program opened in July, LISC LA officials said they have identified 5,000 finalists and nearly 2,000 more will be selected in this final round. Recipients are chosen through a randomized application system, and all who are eligible are encouraged to apply.
However, some applicants are weighted more heavily than others, including veteran-owned small businesses as well as city and county districts that have a higher unemployment rate, lower education rate, lower median household income and lower jobs-to-population rate, according to LISC LA.
More information and applications for the grants can be found at www.lacovidfund.org.
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