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Business Aug 02, 2024
Long Beach. | Photo by tdlucas5000 CC BY 2.0
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Long Beach is offering a microgrant program for startups and micro-entrepreneurs with existing businesses, the city announced this week.
The small amounts of capital are intended to help start or grow businesses with funds from the Long Beach Recovery Act, according to city officials. The program is administered by the Economic Development Department and will distribute grants of $2,500 or $5,000 to qualified businesses, with a total of $80,000 available.
“Access to capital should not prevent anyone from starting and growing a thriving business in Long Beach. Supporting our micro-businesses helps to advance the more inclusive and equitable economic growth of our city,” Mayor Rex Richardson said in a statement. “Micro-businesses are encouraged to apply and take advantage of all the programs, resources and tools that the city has available.”
Officials suggested that entrepreneurs work with one of the city’s Inclusive Business Navigators to complete a business plan and plan for how to use the microgrant funding for their new or existing business.
The city provides technical support for the completion of grant applications, according to the city statement. Applicants can call or email BizCare for a referral at 562-570-4249 or 4Biz@longbeach.gov.
“These grants are an investment in our local entrepreneurs as they launch and grow their small business,” Bo Martinez, director of the Long Beach Economic Development Department, said in a statement. “Small businesses are the foundation of our city, and we’re committed to supporting entrepreneurs and fostering an environment where every business owner has the opportunity to flourish and thrive.”
Applications are available until 5 p.m. on Aug. 26. For more information about the microgrant program, visit longbeach.gov/biznavigators.
In March 2021, the City Council approved the Long Beach Recovery Act, which is the city’s pandemic recovery program that utilizes funds from the federal American Rescue Plan Act.
