Los Angeles County Second District Business Interruption Fund (California)

The Second District Business Interruption Fund is designed to support qualified businesses who have experienced a significant, negative business interruption.

Donor Name: Los Angeles County Department of Economic Opportunity

State: California

County: All Counties

Type of Grant: Grant

Deadline: 11/07/2024

Size of the Grant: $1000 to $10,000

Grant Duration: Grant Duration Not Mentioned

Details:

The Second District Business Interruption Fund (BIF) is funded by LA and administered by the LA County Department of Economic Opportunity.

Funding Information

Up to $10,000.

Eligible Uses

Grant awards must be used as working capital to cover business operational expenses related to the loss of gross revenue as a direct result of the slide, including one or more of the following eligible uses:

Purchase of new certified equipment
Restock of liquidated inventory
Lease, rent or mortgage payments
Payment of business debt accrued due to liquidated inventory
Employee payroll expenses
Working capital to continue operations
Payment of outstanding business expenses (supplier management, utilities, etc.)

Eligibility Criteria

Grantees must meet all of the following requirements:

Geographic Boundaries: Grantees must be located in District 2.
Type of Business: Grantees must be a storefront (“brick and mortar”) commercial business not located in a home.
Demonstrate Significant Impact: Grantees must demonstrate they have experienced at least a 10% decrease in gross revenue during the target period OR have experienced a single short-term event that resulted in significant business loss.
Business Registration Date: The business must be registered to legally operate in the state of California prior to January 1, 2024.
Business in Good Standing: The business must be currently active, in operation, and in good standing with all local, state, and federal taxing/licensing authorities.
Business Revenue: Grantees must submit a 2023 tax return and clearly show annual revenue of $1.5 million or less.
Qualifying Event: Grantees must submit a claim for at least one (1) approved event, which includes but is not limited to major construction or crime events.
Supporting Evidence: Grantees must provide easy-to-understand documentation supporting their specific claim. Examples include photos or police report(s).