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).
For more information, visit LACDEO.
