LA Regional COVID-19 Recovery Fund

• California
• Los Angeles
• Business

The LA Regional COVID-19 Recovery Fund (Fund) is a partnership among the County of Los Angeles, the City of Los Angeles, and institutional and corporate philanthropy. The Fund offers loan and grant resources to micro-entrepreneurs, very small businesses, very small non-profits, small businesses, and small non-profits. The Fund seeks to provide support to underserved communities throughout Los Angeles County who have been adversely impacted by the economic crisis caused by the COVID-19 pandemic.

The Fund currently has three components:

• Grants: The Fund will provide grants of up to $5,000 for micro-entrepreneurs, $15,000 for very small businesses and very small non-profits, $25,000 for small businesses, and $75,000 for small non-profits.

• Loans: The Fund will deploy flexible loans and micro-loans to micro-entrepreneurs, small businesses, and non-profits across the LA region in Fall 2020.

• Coaching and Technical Assistance: The Fund is partners with community organizations to provide free coaching and one-on-one technical assistance to all applicants seeking support before, during, and after grant and loan submission.

The Fund is administered by Local Initiatives Support Corporation LA (LISC LA), a non-profit community development financial institution that works with residents and partners to build inclusive communities of opportunity across the region. LISC LA is also partnering with New Markets Support Company (NMSC), an LISC affiliate, to deploy grants across Los Angeles County.

Government or Lead Agency

Local Initiatives Support Corporation LA (LISC LA).

Dates Available

Grants: The Fund will provide grants though six rounds of funding. Round 5 will be open from October 5, 2020 to October 9, 2020 at 11:59 Pacific Standard Time. Round 6 will be open from October 26, 2020 to October 30, 2020 at 11:59 Pacific Standard Time. The application window for the first four rounds of funding is closed.

Loans: The Fund will provide applications and program details in the Fall of 2020, although a specific date has not been announced.

Coaching and Technical Assistance: Ongoing.

Eligibility Requirements/Restrictions

Grants: The Fund provides grants to five categories of applicants: micro-entrepreneurs, very small businesses, very small non-profits, small businesses, and small non-profits.

• Micro-Entrepreneurs: Workers participating in the gig economy, street vendors, sole proprietors, independent contractors, 1099 workers, and/or LLCs with revenues of $100,000 or less in the most recent available tax return (2018 or 2019). Must have 2018 or 2019 tax return to verify revenue.

• Very Small Businesses: Registered for-profit business entities that have a yearly gross revenue of more than $100,000 but less than $1 million based on most recent available tax return (2018 or 2019). Must have 2018 or 2019 tax return to verify revenue. Must be an “Active” business with the California Secretary of State. Businesses based in the City of LA must have a Business Tax Registration Certificate .

• Very Small Non-Profits: Registered 501(C)(3) or 501(C)(6) Chambers of Commerce organizations that have annual total revenue of less than $1 million based on most recent available 990 form (2018 or 2019) (line 12 on 990 form). Must provide supportive social services to low- to moderate-income individuals or families in LA County. Must provide a filed 990 for 2018 or 2019 to verify revenue. Must be an “Active” nonprofit with the California Secretary of State. Must have a DUNS number. Non-profit entities based in the City of LA must have revenues over $50,000.

• Small businesses: Registered for-profit business entities that have a yearly gross revenue of more than $1,000,000 but less than $5,000,000 based on most recent available tax return (2018 or 2019). Must have 2018 or 2019 tax return to verify revenue. Must be an “Active” business with the California Secretary of State. Businesses based in the City of LA must have a Business Tax Registration Certificate.

• Small Non-Profits: Registered 501(C)(3) non-profit entities that have a yearly gross revenue of more than $1,000,000 but less than $5,000,000 based on most recent available 990 Form (2018 or 2019). Must be social service providers that serve low-to-moderate income communities that have been impacted or are responding to COVID-19. Use of funds will be used to cover costs in approved program areas, including: food programs, rapid re-housing, utility assistance, public programs navigational support, transportation assistance, organizational overhead needs, or small business assistance programs. Must have a DUNS number. Detailed budget, policies and procedures, program description, and more will be required as part of the application.

• All applicants :

• Must have experienced financial hardship that is documented, quantifiable, and demonstrably related to COVID-19.

• Must be private for-profit or non-profit businesses, including sole proprietorships and independent contractors.

• Must be headquartered and operating in Los Angeles County.

• Must have been in operation since September 4, 2019.

Grants will be distributed through a randomized application system that gives more weight to specific criteria focused on helping the most vulnerable members of a community. For a complete listing of the eligibility requirements for each applicant category and the weighted criteria for the randomized application system, please click here. The grant application must be submitted online through the link found here.

Loans: The Fund will provide applications and program details in the Fall of 2020, although a specific date has not been announced.

Coaching and Technical Assistance: Ongoing.

Application Deadlines (If Applicable)

See Dates Available section above.

Contact for More Information

For more information on the above-listed assistance, please send an email to lacovidfund@lisc.org.

Additional support is offered by the LA County Disaster Help Center from Monday to Friday, from 8:30am to 5:30pm at 833-238-4450 or disasterhelpcenter@lacounty.gov.

For assistance with grant applications, please contact your local City of Los Angeles BusinessSource Center.

List of Additional Information

LA Regional COVID-19 Recovery Fund website

Press Release about LA Regional COVID-19 Recovery Fund, dated September 1, 2020.