The Microenterprise Recovery Grant will provide grants of up to $15,000 to eligible microenterprises located in the City of Los Angeles that need financial assistance to aid in their recovery from the COVID-19 pandemic.
Donor Name: City of Los Angeles
State: California
City: Los Angeles
Type of Grant: Grant
Deadline (mm/dd/yyyy): 04/15/2022
Size of the Grant: $15,000
Details:
The grant is funded by Community Development Block Grant CARES Act (CDBG-CV) funding allocated to the City to prevent, prepare for, and respond to COVID-19.
Funding Priority
Grant recipients will be selected based on the availability of funds, program guidelines, submission of all required information, and supporting documentation. If requests exceed the available funding, precedence will be given during the grant allocation process to qualified applicants who meet the following criteria:
- The business has not received any other financial assistance from federal, state, or local sources
- The business is located in a CDBG census tract
- Businesses with W-2 employees
- Businesses located in commercial “brick and mortar” locations
- The family income for the business owner is below 80% AMI prior to COVID-19, based on the previous year’s tax returns
- For the Equity Fund Program, funding priority will be given to women-owned microenterprises. If necessary, a lottery system will be implemented to select prioritized applicants.
Eligibility Criteria
To be eligible to apply for the Microenterprise Grant Program, a business must demonstrate the need for financial support due to the impact of the COVID-19 pandemic.
- The business must be a for-profit business located within Los Angeles city limits. Home-based businesses are eligible if the owner is a Los Angeles resident; however, priority will be given to businesses operating from commercial locations.
- Annual revenue cannot exceed $1 million.
- The business must have an active Business Tax Registration Certificate (BTRC) with the City of Los Angeles that is current and in good standing.
- The business was in existence on or before March 1, 2020.
- The business must have five (5) or fewer employees on their payroll, including the owner(s).
- The business must demonstrate that the grants funds will be used for recovery from the COVID-19 pandemic.
- The business must disclose whether they have received funding from other federal, state, or local sources (including PPP and EIDL). Applicants who have received funding are still eligible, providing the funds are not currently being spent on the same expenses covered by the Microenterprise Grant.
- If applicable, the business must be in good standing with the Secretary of State.
- The Equity Fund is supplemental and will target women-owned businesses.
- Grant funds must help create or retain at least one job held by or made available to low and moderate-income persons, as defined by HUD.
For more information, visit Microenterprise Recovery Grant.
