SCVNews.com | County sets deadline for small business stabilization loan program

The Los Angeles County Development Authority has announced that the Small Business Stabilization Loan Program will accept applications until April 16 or until it reaches $ 20 million in funding requests, according to the first possibility.

Launched on January 28, 2021, the Small Business Stabilization Loan Program offers eligible businesses a competitive interest rate on loans ranging from $ 50,000 to $ 3 million.

Companies interested in applying for the program must have been in business for at least two years and looking for working capital, equipment purchases, real estate acquisition, or refinancing of existing loans at interest rates. higher.

As of March, LACDA had received more than $ 14 million in funding requests.

The program combines the loan with technical assistance from partners who offer complementary online webinars, one-on-one financial consultations, on-application assistance and an assessment of a company’s readiness to submit a LACDA loan application. .

The final webinar “How to Apply for a LACDA Loan”, a prerequisite for submitting a Small Business Stabilization Loan application, will be held on March 25, 2021, in English and Spanish.

To register for a webinar or get more information on the requirements to apply for the Small Business Stabilization Loan Program, please visit BizStabilization.lacda.org, or call (626) 586-1550.


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Harold Shirley

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