July 25, 2021 Your Source for Brentwood News

Microloans For Small Businesses Impacted by Coronavirus

Additional cases confirmed on Westside

By Sam Catanzaro

As the number of confirmed COVID-19 cases continues to grow, including additional Westside cases, local officials have put forward measures to support small businesses impacted by the outbreak.

According to the Los Angeles Department of Public Health (Public Health), there have been 536 cases of COVID-19 across the county, including 27 in Brentwood. This is the most number of confirmed cases of any neighborhood in Los Angeles County.

In light of the sweeping impact the COVID-19 pandemic is having on the small business community, the City of Los Angeles has responded by establishing a Small Business Emergency Microloan Program. Businesses that meet the criteria can apply for loans between $5,000 and $20,000.

According to the City, these loans are for microenterprises in the City of LA that are low-income or will retain low-income jobs and small businesses in the City of LA that will retain low-income jobs. Businesses must show that historical profits were sufficient to service the requested debt and have been impacted by the COVID-19 outbreak.

To learn more, visit ewddlacity.com/index.php/microloan-program

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