The deadline for small businesses to apply for a second round of grants through Los Angeles District 13's Small Business Grant Program was extended to Feb. 11, Councilman Mitch O'Farrell announced Thursday.
The grants are for businesses that have been impacted by the coronavirus pandemic within the 13th District, which includes parts of Hollywood, Silver Lake, Echo Park, Westlake and Atwater Village. The application deadline was previously scheduled for 5 p.m. Thursday.
This second round will award $5,000 to businesses with an annual revenue of $5 million or less. The first round of grants, in July, was awarded to businesses with an annual revenue of $1 million or less, according to O'Farrell's office.
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Businesses that applied during the first round of funding but did not qualify due to the revenue requirements will be automatically entered into this round, O'Farrell's office said. Those businesses will receive an alert via email to indicate their status in the program.
"Our small businesses are hanging by a thread to survive because of the devastating impacts and uncertainty of the Coronavirus pandemic," O'Farrell said. "This additional round of financial assistance will help even more neighborhood-based establishments pay bills, retain workers and help support our local economy when it needs it most."
The money was taken from discretionary funding historically used for purposes like public infrastructure projects. O'Farrell allocated $1 million in July to start the program to assist businesses in paying bills amid the pandemic. The program is in partnership with Los Angeles' Economic and Workforce Development Department.
"COVID-19 has completely altered how small businesses operate, with many experiencing devastating economic consequences," EWDD General Manager Carolyn Hull said. "EWDD is proud to support CD 13's grant program, which will help alleviate some of the financial stressors currently being experienced by many local mom-and-pop shops."
Businesses will be randomly selected among qualifying applicants to receive the $5,000 grants.
Qualifying applicants must:
- have an established business within the 13th District;
- have an "active status" with the California secretary of state; -- provide required application documents, such as a W-9;
- have an annual gross revenue up to $5 million and an established commercial location; and
- have been economically affected by COVID-19.
Applications will be accepted starting at 8 a.m. Thursday and through 5 p.m. on Feb. 11. Business owners who want to apply can go to CD13.com.
Technical assistance is available through Acelera Financial, which can be reached by emailing TA@acelerafinancial.com or calling 213-410-5099.