The Los Angeles City Council also approved another $40 million earmarked by the Ad-Hoc Committee on COVID-19 Recovery and Neighborhood Investment, which I chair, to assist small businesses with small business grants, including $4 million for micro-entrepreneurs, such as street vendors.
The program, the LA Regional COVID Fund, is an LA City/County LA partnership, and for this $100 million round of funds is prioritizing minority-owned, women and veteran-owned businesses and non-profits that are underserved in federal awards during COVID-19. Applications are now open through Friday.
The City and County of Los Angeles are dedicating tens of millions of dollars in grant funds, which, in part, will prioritize assistance for underserved businesses and non-profits, such as low-income Black, Latino, women and micro-entrepreneur business owners. These are small business owners who did not get a fair shot at the federal government’s stimulus PPP funds, but need immediate assistance to keep their operations open. Each owner’s narrative is the story of LA and an American Dream unlike any other. The LA Regional COVID Fund exists to keep these Angelenos and their businesses and non-profits alive and flourishing. We encourage all eligible business owners to apply for Round Four.
Our City Council also earmarked $4.9 million to assist domestic violence victims during these difficult times. In City Council tomorrow, we also put another $100 million to help address homelessness during this pandemic.