The Lending Corner: Our Small Business Lending Support Team
We highly recommend that you visit our upcoming entrepreneurial webinars on our website that may help you in putting your business in a stronger position to receive a Grant or a Loan using this link and scroll down. https://neworg.ecenterdirect.com/events?reset=1
GRANTS
The Grants below have deadlines so please make sure you read the requirements thoroughly and apply accordingly. If the links do not activate, please copy and paste to your browser.
— Economic Workforce Development Department
Monitor the following website for upcoming Grants. This website has provided the most grants of any organization in Los Angeles and maybe a Fourth Round of $ 5,000 Grants will happen again. See below….
https://ewddlacity.com/index.php/recovery/comebackla
1. LA Optimized
The City of Los Angeles Economic Workforce and Development Department (EWDD) in partnership with the Mayor’s Office and Council Districts with Braven Agency as Lead Operator are digitizing Los Angeles small businesses with LA Optimized!
LA Optimized will help small businesses adapt to this rapidly changing shift in consumer behavior and technological advances by assisting Small Businesses optimize their businesses for online sales and marketing by:
https://www.lacityoptimized.org/
2. Clean Vehicle Grant Program
The Clean Vehicle Assistance Program provides grants and affordable financing to help income-qualified Californians purchase or lease a new or used plug-in hybrid, fuel cell, or electric vehicle. Our goal is to make clean vehicles accessible and affordable to all who qualify.
The Grant program is for California residents who live in a disadvantage community (DAC) and meet the income requirement. Learn more about eligibility.
3. LA County Performance Recovery Grant
Is a new grant initiative designed to support the region’s dynamic performing arts sector. Through this initiative, the LA County Department of Arts and Culture will deliver $1.2 million in one-time funding to artists, independent producers, and organizations that have a demonstrated history of developing, producing, and/or presenting work in the performing arts disciplines such as dance, music, theater, and folk and traditional arts.
https://www.lacountyarts.org/funding/la-county-performing-arts-recovery-grant
4. Pledge LA Fund Founders Fund
The Pledge LA Founders Fund was created to directly address the systemic barriers that Black and Latinx entrepreneurs face when seeking capital for their companies. We help founders with demonstrated traction increase recurring revenue, find follow-on capital, and build community with their peers.
5. Hello Alice- Great Resource For Small Business Grants
Discover small business grants for every stage of your small business adventure, recommended based on your unique profile and delivered to your inbox weekly. The search for free money doesn’t get any easier!
This organization partners with major companies that are offering specialized Grants.
6. 14 Small Business Grants for Women Entrepreneurs
https://www.hiscox.com/blog/15-small-business-grants-women-entrepreneurs
Please email me when you complete the application.
7. Minority Business Message Board
Discover the power of the Minority Business 365 Message Boards and see how our 300,000 members can benefit you AND your small business!
8. Amber Grants
“The Foundation awards $10,000 to a different women-owned business every month. There are also $ 10.000 Monthly Grants for Startups, Non-profits, and Business Category. At the end of each year, 2 of the 12 grant winners are awarded an additional $ 25,000.
9. Small Business Growth Fund Deadline—July 21 @ 3pm PST
Join our incredible group of Small Business Growth Fund recipients by applying for a $5,000-$25,000 grant in round 2! We’re back with more funds for resourceful entrepreneurs, and we can’t wait to hear about how you plan to grow your business in 2023. The Small Business Growth Fund — presented by Hello Alice and the Global Entrepreneurship Network (GEN) with funding from Etsy and Progressive – is now accepting applications until July 21, 2023, at 6 p.m. ET.
To qualify for the grant program, you must:
· Be a for-profit business located and registered in one of the 50 United States, Puerto Rico, or the District of Columbia
· Have less than $1M in 2022 gross annual revenue
· Have a commitment to their customers and community!
· Have a clear plan for how the funds will help them achieve a significant growth milestone in 2023
· Amounts will be awarded based on a variety of scoring factors including but not limited to need for and intended use of funds, plan for growth, industry, and annual revenue.
https://app.helloalice.com/grants/2023-small-business-growth-fund-round-2/apply
10. VERIZON FOUNDATION GRANT
Verizon Foundation has a grant of $10,000 every 6 months. All you need to do is watch two videos and they will add you to the list. Every six months, 100 companies are selected for the grant.
11. Bank of America® Down Payment Grant Program
The program is designed to drive business growth and generational wealth opportunities for women and minority-owned small to mid-sized businesses.
https://promotions.bankofamerica.com/smallbusiness/downpaymentgrant
12. Supplemental Paid Sick Leave Relief Grant Program
Did your small business provide supplemental paid leave during the pandemic? Apply today for a CA Supplemental Paid Sick Leave Grant of $5,000-$50,000!
The Program will award funds to eligible businesses and nonprofits that have incurred costs for COVID-19 Supplemental Paid Sick Leave pursuant to Sections 248.6 and 248.7 of the Labor Code. Funds are limited and will be awarded based on eligibility and availability of funds.
13. Rooted In Growth, Grant & Mentorship Program
SoGal Foundation, aims to support BIPOC women and LGBTQIA+hair entrepreneurs with long-term aspirations to succeed in the professional beauty sphere by offering meaningful funding ($25K grant) to provide longevity and sustainability, paired with mentorship and networking with key industry contacts.
LOANS
If you need a quick Loan from $ 1,000 to $ 36,000 with no Limited Financial Documentation @ 0% for 12-36 months, you may want to consider applying to the organizations below.
1. Kiva Los Angeles
Since 2005 KIVA has been helping borrowers crowd-Lend up to $ 15,000 @ 0% with payment terms of 12-36 months depending on the Loan you are awarded.
Sign up for “How to Succeed In Getting a Kiva Loan” Webinar July 26th @ 3pm
https://neworg.ecenterdirect.com/events/1021241
2. Jewish Free Loan Association
A Non-Profit organization offering interest free loans since 1904. Assisting all communities with 0% no fee loans up to $36,000. Must have a FICO score of 680+ for any request over $7,500 and two qualified guarantors. Loans under $7,500 require a FICO score of 580+ and one qualified guarantor.
Must be a US citizen and complete an online application and submit supporting documents. A virtual interview is required, and the process generally takes 2-4 weeks. If approved, funds are deposited into your bank account and payment begins approximately 30-45 days after funding. Loans are paid back in 36 months.
3. The Black Cooperative Investment Fund (BCIF) information.
Founded in 2016 and launched in January 2017, the Black Cooperative Investment Fund (BCIF) is a a 501(c)3, community-based organization rooted in self-help economics that provides microloans to the Black community through pooled dollars and raises awareness about the importance of economic empowerment, equity, and wealth building for the Black community.
4. The Small Business Loan Guarantee Program
IBank’s Small Business finance Center features a loan guarantee program designed to assist small businesses that experience capital access barriers. The Small Business Loan Guarantee program encourages lenders to provide funds to small businesses to help them grow and prosper.
https://ibank.ca.gov/small-business/loan-guarantees/
Remember, to always share your Business Successes with me via email should you make any financial improvements to your business like buying any equipment, hiring a new employee, paying for a business consultation, receiving a Loan, Grant, or any other Business Capital.
If you live in LA County and want to schedule a Loan/Business appointment, please use this link https://newwbc.setmore.com/ricsaenz
Thank you!
Ric Sáenz
Financial and General Business Manager
818-650-0547
