SBA LOANS

The application link is now open for any California business wishing to apply for a disaster loan related to economic damage from the COVID-19 health crisis.

LINK: https://disasterloan.sba.gov/ela

A word from Bill Allen, CEO of LAEDC

Dear members, partners and clients of the LAEDC,
During these trying times, I want you all to know that as a result of our work over the past couple of years promoting business continuity and resiliency measures, the LAEDC has been well prepared to respond to the challenges associated with the spread of COVID-19 in our region and we are here to serve you.

Each of our operating units is fully operational, and our business assistance team, which has always worked from remote locations around the county, is in regular contact with our small business clients and will continue to be available to any of you who may need our assistance connecting with helpful resources in the weeks ahead. We have listed some of those resources below.

As you can tell from the opening text and link in this email, today we got the good news that the county and state have completed the required process to declare the state of California an SBA disaster area, which allows for small businesses in our county to apply for financial assistance through the SBA disaster loan program.

In addition, we have daily been compiling and updating a COVID-19 resource page on our LAEDC website which you can reach at the following link. It contains helpful information from our federal state and local governments. http://tiny.cc/64pllz

Angelenos are among the most creative, innovative and resilient people in the world and I’m confident that working together we can successfully navigate our way through this storm.

Bill Allen, CEO, LAEDC

Other immediate help:

Work Sharing: This State of California program provides an alternative to layoffs, for those businesses with reduced work or available production.

https://www.edd.ca.gov/unemployment/Work_Sharing_Program.htm