L.A. Small Business Recovery Fund: Round 3 Now Open

Courtesy photo by Arthur Franklin on Unsplash

Applications for the third round of the FOUND/L.A. Small Business Recovery Fund are now open. Grant sizes range from $5,000 to $25,000.

Applications close Sunday, Feb. 21, 2021 at 11:59 p.m.

Applicants will need to submit complete applications and required documents. Those who meet the eligibility requirements will be entered into a pool of eligible applicants. On designated selection days, grant recipients will be randomly selected from this pool until funds are expended. The size of the grant will be between $5,000 and $25,000 depending on the size of the business and other factors.

Eligibility Requirements:

• Must be located in Los Angeles County.
• Must be a brick-and-mortar business (serving the neighborhood in which they’re located, where customers can come in or pick up from).
• Up to five employees in March 2020 (includes full time, part time, and/or contracted workers). If you have six to 20 employees, you can apply for a FOUND/L.A. grant from Pacific Community Ventures.
• Evidence of profitable business pre-COVID (verified by tax returns).
• Must have annual revenue of between $30,000 and $3 million.
• Evidence of being negatively impacted by COVID-19.
• Company founded by February 2019.
• Applicant must own at least 50% of the business.
• Must be willing to complete the application process.
• Must be willing to have your story told in FOUND/L.A. and/or TMC Community Capital’s print, digital, and audio outlets.

The Following Businesses Are Ineligible for a Found/L.A. Grant at This Time:

• Professional service businesses (i.e. law offices, marketing agencies, accounting firms, real estate, insurance, etc.).
• Medical offices (i.e. dental, optometry, etc.).
• Financial Services (i.e. banks, lenders, etc.).
• 50% or more B2B.
• Home-based businesses.
• 100% e-commerce companies.
• Gig-economy workers.
• 1099 independent contractors.
• Cannabis-based, tobacco, liquor, & adult entertainment businesses.
• Nonprofits, political or religious organizations.

For more information and to apply, visit tmccommunitycapital.org/lagrants.

More from Arcadia Weekly