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The application period opened Saturday for a program that provides $584,000 in grants to small businesses and nonprofit organizations in conjunction with Small Business Saturday, Los Angeles County officials announced.
The Los Angeles County Department of Economic Opportunity, in collaboration with the Pacific Asia Employment Consortium, will launch an Economic Opportunity Leave Grant program for recipients still recovering from the coronavirus pandemic, officials announced.
“At DEO, we understand how important small businesses and nonprofits are to the economy, and we know how important capital is to small businesses and nonprofits to recover, grow, and innovate. ,” said DEO Director Kelly LoBianco. “We are pleased to announce the Economic Opportunity Holiday Grant Program as we continue to open capital opportunities to our amazing community of entrepreneurs.”
The grant is part of 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. is being awarded. The grant is funded through the American Rescue Plan Act and the state Small Business Advocacy Office.
“We can’t think of a better way to celebrate Small Business Saturday than by expanding funding for the small businesses that are the economic engines and cultural foundations of our communities,” said Los Angeles County Supervisor Holly Mitchell. No,” he said. “Through the County’s Economic Opportunity Grant Program, we will equitably distribute American Rescue Act funding to help businesses across Los Angeles, including women-owned businesses and businesses of color, who have historically had limited access to capital. We are providing support to small and medium-sized businesses.”
PACE Chief Operating Officer William Chun said the organization is “excited to partner with county leadership and the County Office of Economic Opportunity in launching the Economic Opportunity Holiday Grant Program.” As small businesses and nonprofits try to survive post-pandemic, this program demonstrates the county’s continued commitment to assisting those most in need. ”
Applications will be accepted until the end of the year and funds are expected to be distributed in February 2025. More information is available on the DEO website at opportunity.lacounty.gov.
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