Mature man in his 40s holding open sign on door of business, looking through window, optimism, aspiration, resilience
In conjunction with Small Business Saturday, the application period opened on Saturday for a program providing $584,000 in grants to small businesses and nonprofits, Los Angeles County officials announced.
The LA County Department of Economic Opportunity, in partnership with the Pacific Asian Consortium of Employment, is launching the Economic Opportunity Holiday Grant Program for recipients who are still recovering from the coronavirus pandemic, officials said.
“At DEO, we know how important our small businesses and nonprofits are to our economy. We also know how important capital is to small businesses and nonprofits -- for recovery, for growth, and for innovation,” DEO Director Kelly LoBianco said. ``We are happy to announce our Economic Opportunity Holiday Grant Program and continue to unlock capital opportunities for our amazing community of entrepreneurs.”
The grants are part of the DEO's larger Economic Opportunity Grant Program, which has already awarded $55.7 million in grants this year to 5,151 small businesses and nonprofits most affected by the pandemic and other economic disruptions. The grants are funded through the American Rescue Plan Act and the State Office of the Small Business Advocate.
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“I cannot think of a better way to celebrate Small Business Saturday than by expanding access to funding for small businesses, which are the economic engine and cultural fabric of our communities,” Los Angeles County Supervisor Holly Mitchell said. “Through the County's Economic Opportunity Grant Program, we are equitably distributing American Rescue Act dollars to help reach small businesses across Los Angeles, including women-owned businesses and businesses of color that have historically faced limited access to capital.”
William Chun, chief operating officer for PACE, said the organization was “excited to partner with the county leadership and the County Department of Economic Opportunity in launching the Economic Opportunity Holiday Grants program. With small businesses and non-profits still trying to survive after the pandemic, this program shows the county's continuing commitment in helping those that need it the most.”
Applications will remain available through the New Year's holiday, with funding to be distributed in February 2025. More information is available on the DEO website at opportunity.lacounty.gov.
