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.
