Programs to support small businesses impacted by the COVID-19 outbreak and recent events have been established at all levels of government. We want to ensure you have access to the best information available on these programs, as well as resources to help you access them. If you are unable to get the assistance you require from the resources listed on this page, please feel free to reach out to Elan Shore, Director of Research & Special Projects at the DCBID, at email@example.com or (213) 416-7518 so we can help you get the help you need.
Reopening Guidelines and Resources
In the coming weeks and months, businesses will begin resuming operations, often under very different circumstances than before COVID-19. Public health directives and guidance for business operations will be evolving on an ongoing basis and will vary from place to place. This may create confusion and the potential for misinformation.
CITY OF LOS ANGELES
The City of Los Angeles has developed toolkits for each sector and will release them as appropriate to each phase of reopening. The toolkits include sector-specific checklists, links to additional resources, and relevant guidance from the County of Los Angeles and the State of California.
For the latest updates, register for NOTIFY LA.
Centers for Disease Control and Prevention (CDC)
Occupational Safety and Health Administration (OSHA)
American Industrial Hygiene Association (AIHA)
Back to Work Safely is a website that features expert, industry-specific guidance for both businesses and consumers to safely re-open as they emerge from the COVID-19 quarantines. It is sponsored by the AIHA, a group of scientists and professionals committed to preserving and ensuring occupational and environmental safety and health (OESH) in the workplace and community.
SMALL BUSINESS DEVELOPMENT CENTERS (SBDC)
Local no-cost resources are available to assist businesses seeking to access these funds from the Federal Government through the LA SBDC Network. For businesses in DTLA, you have two convenient options to choose from. You can also reach out directly to the LA Network HQ if needed.
Bixel Exchange SBDC
Pacific Coast Regional SBDC
SBDC Los Angeles Network
Local Initiatives Support Corporation (LISC)
The Local Initiatives Support Corporation is a national non-profit organization and Community Development Financial Institution (CDFI) that provides capital to borrowers in low-income, disadvantaged, and underserved communities.
Los Angeles Business Resource Center - PACE LA
The Central/West Business Source Center located at Pacific Asian Consortium in Employment LA (PACE LA) provides affordable business assistance services, direct financial assistance, entrepreneurial training, and economic development to individuals and businesses in California.
LOS ANGELES COUNTY DEVELOPMENT AUTHORITY (LACDA)
The Los Angeles County Development Authority has launched an affordable and flexible business loan program to support and help stabilize businesses in the region. Small Business Stabilization Loans range from $50,000 to $3 million, and can be used for working capital, equipment purchases, inventory, or refinancing of existing loans at higher interest rates.
Stay Up to Date
ONLINE RESOURCES GUIDE
These links will have the most up to date information on programs to support business at each level of government.
US Small Business Administration
Internal Revenue Service
State of California
City of Los Angeles
COVID-19: Daily Updates for Small Business
Presented by Small Business Majority, a national small business advocacy organization. Upcoming webinars plus materials and recordings from past webinars can be found HERE.
COVID-19 Small Business Virtual Forum
Presented by the LA Chamber of Commerce, the Dr. Lucy Jones Center for Science and Society, and Wells Fargo. Details and recordings of past webinars can be found HERE.
The March 31st webinar included a step-by-step walkthrough of the EIDL application process. The April 7th webinar includes a step-by-step walkthrough of the PPP application process.
Federal Funding Programs
More information on these programs to assist small businesses can be found at the US Chamber of Commerce.
The Federal Government has established two loan programs through the Small Business Administration (SBA) for companies with fewer than 500 employees. There are no fees associated with applying for these loans.
PAYCHECK PROTECTION PROGRAM (PPP)
- Loan amounts up to $10 million based on 2.5X average monthly payroll costs
- Up to 4% interest rate over 10 years with no payment for 612 months
- A portion of the loan may be forgiven for specified costs
ECONOMIC INJURY DISASTER LOAN (EIDL)
- Loan amounts up to $2 million with an immediate cash advance of $10,000
- 3.75% interest rate over 30 years with no payment for 12 months
- Apply directly to the SBA via online application HERE