The LA County, the City of Los Angeles and philanthropic stakeholders created a Regional Recovery Fund to support those facing economic pressure as a result of the COVID-19 pandemic. There are millions of dollars allocated to help micro and small businesses.
The fourth round starts on August 31st and closes on September 4th. The first round had 39,817 received applications from which 33,314 were eligible and 63 were selected. In the second round the number of applications were 48,138 with 39,905 eligible and 128 selected. The third round 31,909 participated with 24940 eligible and 128 selected. Remember grants are selected through a weighted lottery system.
The micro entrepreneurs are eligible for $5000, you can participate if your revenues are less than $100,000, the only chance to participate is a DUNS number. If your organization does not yet have a DUNS number, visit the https://www.dnb.com/duns-number/get-a-duns.html or call 1-866-705-5711 to register or search for a DUNS number.
The small business and nonprofits are eligible for $15,000, to qualify your gross revenue has to be less than $1 million, you will need an “Active” status from CA Secretary of State, DUNS Number and if in the City of LA your BTRC. The program is accepting nonprofits with an annual revenue of over $50K, 501 c3 and now 501 c6!
The fourth round, another grand opportunity has been open for medium size companies and nonprofits with gross revenues between $1 Million – $5 Million, they will be eligible for a $25,000 grant. The same requirements as in the small businesses will be required.
NEW-WBC is here to help you with the application, register in our free webinars by clicking here. We walk you through each question and explain the requirements. You can book a free one on one consultation here. Visit our website for additional information at: www.new-wbc.org.
We are here to help. Click Here to make an appointment today or call at 213-483-2060 x 401