June 5, 2020
The Los Angeles County Development Authority, with funding from LA Metro, launched a program to provide emergency relief to help small business near transit stations that have been impacted by COVID-19. The Transit Oriented Communities Small Business Recovery Loan Program (TOC) will provide loans of up to $20,000 to cover operating expenses for businesses impacted by the pandemic.
To be eligible, businesses must be located within a quarter of a mile of a major transit stop. There is $850,000 available for the TOC Loan Program, which will fund about 40 loans. The loans will be available on a first-come, first-served basis, with a limitation of up to three loans per zip code to ensure geographic distribution of the available funds.
The application period has been extended to June 19, 2020, at 5 p.m.
*Photo Credit: MSPhotographic / Shutterstock.com
For comments, questions or concerns, please contact Dennis Kaiser