The Entertainment Business Interruption Fund is here to assist small businesses in the entertainment industry who were impacted by COVID-19 pandemic and the double Hollywood Strikes.
Donor Name: LA Small Business Development Center Network
State: California
County: Los Angeles County (CA)
Type of Grant: Grant
Deadline: 05/24/2024
Size of the Grant: $10,000 to $100,000
Grant Duration: Grant Duration Not Mentioned
Details:
The Entertainment Business Interruption Fund (BIF), funded by the American Rescue Plan (ARP), is designed to support qualified small businesses that serve the Entertainment Industry in Los Angeles County (County).
Grant Awards
Grant amounts are based on business revenue as shown on the most recently filed federal business tax return.
- Revenue Size: $1,000,000 – 3,000,000
- Eligible Grant Size: $25,000
- Revenue Size: equal or less than $999,999
- Eligible Grant Size: $10,000.
Eligible Uses of Funds
The purchase of new certified equipment.
- Restock of liquidated inventory.
- Lease, rent, or mortgage payments.
- Payment of business debt accrued due to the COVID-19 pandemic and the 2023 double Hollywood Strikes.
- Costs resulting from the COVID-19 pandemic and related health and safety restrictions, or business interruptions or closures incurred because of the COVID-19 pandemic and the 2023 double Hollywood Strikes.
- Employee payroll expenses.
- Working capital to continue operations.
- Payment of outstanding business expenses (supplier management, etc.)
- Grant awards may not be used by awardee for regranting or for any uses or expenses that the awardee has been, or will be, reimbursed for under any federal program.
Eligibility Requirements
For the purpose of this Program, a “qualified small business” means a business that meets all of the following criteria, as confirmed by the office or fiscal agent through review of revenue declines, other relief funds received, credit history, tax returns, payroll records, and bank account validation:
- Must be a for-profit business with $3 million or less in annual gross revenue as reflected in Applicant’s most recently filed, federal business tax return.
- Must have experienced at least a 70% loss of revenue due to the COVID -19 Pandemic from March 1, 2020 to present, as well as the 2023 double Hollywood Strikes between May 1, 2023 – November 30, 2023.
- At least 70% of revenue must come from the Entertainment Industry sector.
- Loss must be equal to or greater than grant amount requested.
- Business must have been registered to do business legally in the state of California and/or any other applicable jurisdiction prior to December 30, 2021, or other similar business filings.
- Active business currently in operation that is in good standing with all local, state, and federal taxing and licensing authorities.
- Must have a current physical location within the County of Los Angeles as of May 2023.
- Negative economic impacts from COVID – 19 Pandemic March 1, 2020 – present, as well as the 2023 double Hollywood Strikes between May 1, 2023 – November 30, 2023.
- Must not have received a grant funded by the American Rescue Plan Act (ARPA) from Los Angeles County.
- Application must be submitted by a majority owner that is at least 18 years of age as of the date of application.
For more information, visit LA Small Business Development Center Network.
