June 5, 2020 Comments Off on Los Angeles County, Metro Launch COVID-19 Loan Program Views: 736 California News, Los Angeles

Los Angeles County, Metro Launch COVID-19 Loan Program

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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

Read more at TOC Small Business Recovery Loan Application

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