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$54 Million in Grant Cash To be had to Small Companies in One A part of California

Section Two of the Financial Alternative Grant (EOG) program has been introduced via the Los Angeles County Board of Supervisors and the LA County Division of Financial Alternative (DEO).

The second one section of this system will see a spread from serving microbusinesses to incorporate small companies and non-profits. The primary section of the DEO introduced in January previous this 12 months and simplest accredited packages from the County’s smallest and maximum prone microbusinesses, with the cap for investment positioned at $2,500 in line with grant.

grant money available to small businesses in la county

Expanded Eligibility and Higher Investment

In addition to increasing eligibility past microbusinesses, the investment cap has additionally been raised considerably. Small companies will be capable of obtain $15,000 or $20,000 in line with grant, whilst non-profits can obtain $20,000 or $25,000 in line with grant.

The DEO is making plans on handing out 6,800 EOG grants, totaling $54 million in federal budget from the American Rescue Plan Act and California Place of work of Small Trade Suggest.

Budget Offering ‘A lot Wanted Sources’

The Director of the brand new Division of Financial Alternative, Kelly LoBianco, stated of the grant program: “We’re hanging $50 million again into the group and directing a lot wanted assets to small companies that proceed to battle and face disproportionate affects from the pandemic at the same time as they proceed to serve and uplift native citizens.

“Via multi-lingual products and services in 10+ languages, one-on-one counseling, and a set of on-line toolkits, we’re dedicated to making sure that various small companies and non-profits obtain the vital improve to post a a success grant utility and unencumber important monetary help.”

LoBianco additionally expressed gratitude to the Board of Supervisors for his or her management, with Manager Lindsey P. Horvath of the 3rd District including: “It’s glorious as a way to improve small trade homeowners impacted via COVID-19 during the Financial Restoration Grants, concentrated on the spaces of our County and organizations the place help is wanted maximum.”

How one can Practice for an EOG Grant

The LA County web site has a grants segment the place eligible trade homeowners can observe. Candidates too can use the web site to view eligibility standards and get right of entry to improve.

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