The Los Angeles County Development Authority (LACDA) launched the Small Business Stabilization Program Loan program offer eligible businesses a competitive interest rate on loans ranging from $ 50,000 to $ 3 million.
Companies interested in applying for the program should be in business for at least two years and seek working capital, equipment purchases, real estate acquisition, or refinancing of existing loans at higher interest rates.
The Small Business Stabilization Loan Program will begin accepting applications today and will remain open indefinitely. The program offers technical assistance from partners who offer complementary online webinars, one-on-one financial consultations, application assistance, and an assessment of a company’s readiness to submit an LACDA loan application. Technical support is available in several languages, including English, Spanish, Chinese (Mandarin), and Korean. Since the launch of the webinar component of the related BizHelp program on January 12, 2021, 88 companies have benefited from these partnerships.
For more information on the requirements to apply for the Small Business Stabilization Loan Program, please visit BizStabilization.lacda.org. All media can contact Elisa Vasquez, LACDA Public Information Officer, at (626) 586-1762.