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Business May 05, 2022
Pantry Cafe in Los Angeles | Photo Courtesy of Downtowngal/Wikimedia Commons
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The deadline is Friday for small businesses in Los Angeles to apply for the city’s rental assistance program to assist with financial recovery from the COVID-19 pandemic.
The City of Los Angeles Small Business Rental Assistance Program will provide up to $15,000 to eligible businesses. To qualify, businesses must have a brick-and-mortar storefront within the city of Los Angeles, have an annual revenue of less than $5 million, be in good standing, have an active Business Tax Registration Certificate in good standing and have been in business on or before March 1, 2020.
Nonprofits and landlord or passive-income businesses are not eligible for the program.
“COVID-19 has hit many of our small businesses particularly hard,” said L.A. Economic and Workforce Development Department General Manager Carolyn Hull. “The Small Business Rental Assistance Program is our way of supporting small businesses during the economic recovery. Eligible businesses could receive a grant between $5,000 and $15,000 to help them with potential rental arrears.”
Eligible businesses must be able to identify negative financial impact from COVID-19 and demonstrate that the grant will be used for recovery, according to the Economic and Workforce Development Department. Funds can be used for rent payments that were incurred on or after March 1. Businesses will not be able to use the grant for taxes, construction or tenant improvements, operating expenses, late fees or interest charged by the business’ landlord or any personal expenses.
The city’s BusinessSource Centers can assist businesses that need help filling out their applications.
“Reaching out to our BusinessSource Centers will give you the resources you may need in order to complete the application in a timely fashion,” Hull said.
People can apply for the grant at bit.ly/lasmallbizgrant. Local BusinessSource Centers can be found at bit.ly/LABusinessSource.
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