The County of Los Angeles in partnership with Goldman Sachs 10,000 Small Businesses initiative and Community Reinvestment Fund, USA (CRF) has created a new application portal for small businesses and nonprofits seeking to apply for the federal Paycheck Protection Program (PPP), a forgivable loan product created by the federal Coronavirus Aid, Relief, and Economic Security (CARES) Act.
Business owners and nonprofits who access the application portal will initially submit an inquiry with CRF. Business owners and nonprofits should be prepared to provide information on their business or organization. After successfully submitting an inquiry, loan processers at CRF will follow up directly with business owners/nonprofits to obtain necessary documents and information to process the loan request. All eligible business owners and nonprofits who have been unable to apply for a PPP loan through a bank or other financial institutions are encouraged to submit an inquiry. We urge you to apply at your earliest opportunity.
Mayor Garcetti launches effort to help small businesses apply for federal loans
L.A. CARES Corps
If you have any questions, please contact the Los Angeles County Disaster Help Center at 833-238-4450 or via email [email protected]
is a partnership between the City and County to provide small businesses with the help they need to apply for federal loans.
Washington’s coronavirus relief bill
includes $349 billion in Small Business Administration loans. The package establishes two types of loans:
- Economic Injury Disaster loans to help small businesses make up for temporary loss of revenue; and,
- the Paycheck Protection Program (or PPP), which helps businesses keep workers on payroll during this emergency.
The L.A. CARES Corps website
has a clear explanation of the two emergency loan programs and a way to directly access loan applications. Business owners can also reach out to a call-in center at (833)-238-4450 for help from loan counselors trained in completing SBA applications.
Businesses throughout Los Angeles County have been experiencing impacts associated with coronavirus since it emerged and are suddenly facing declining sales, operational challenges, or financial uncertainty. The County’s Department of Consumer and Business Affairs’ Office of Small Business can help connect you to local, state and federal resources, including layoff aversion and emergency loans.
for more business resources.