Our guiding principles in responding to the COVID-19 emergency are (1) to quickly deliver resources to help sustain the Maywood businesses and workers as slower, more significant state and federal aid is mobilized, and (2) to help the most vulnerable first.
Los Angeles City Small Business Emergency Microloan Program
updated as of 12:00pm (PDT) on 3/24/2020
this page will receive continuous updates as newer information becomes available
In light of the sweeping impact the COVID-19 pandemic is having on our small business community, the City of Los Angeles has responded swiftly and decisively to support our local, community businesses. The newly established Small Business Emergency Microloan Program now provides financing needed to strengthen small business enterprises in this time of acute need that have been affected by the COVID-19 outbreak.
Businesses that meet the criteria below may apply online for aCity of LA Small Business Emergency Microloan (click this link). To apply, register through our secure log-in system. Please read through the information below prior to submitting application. Contact information is available at the bottom of this page if you need further assistance.
Business must have a Business Tax Registration Certificate with the City of Los Angeles' Office of Finance that was filed prior to March 01, 2020
principal business owner(s) must have reasonable and responsible personal credit history and an acceptable explanation for any derogatory marks. Bankruptcies and debt write-offs must be at least 12 months old
businesses must show that historical profits were sufficient to service the requested debt and have been impacted by the COVID-19 outbreak
For more information, email the EWDD Emergency Microloan Management Team at EmergencyLoans@lacity.orgor call 213-744-7130.
EWDD is currently experiencing a high volume of calls and emails. Please be assured that we understand your concern and will respond as quickly as possible.
Small Business Finance Center (SBFC)
The SBFC helps businesses create and retain jobs, and encourages investment in low- to moderate-income communities. The SBFC has a Jump Start Loan Program, a Small Business Loan Guarantee Program, and a Farm Loan Program.
The current pandemic is affecting so many and we would like to offer some assistance on how to locate information, support and financing options.
One of the IBank Small Business Finance Center’s loan guarantee programs is designed for Disaster Relief specifically and is currently available to small businesses needing assistance to overcome economic injury caused by COVID-19. We have Financial Development Corporation (FDC) partners throughout the state that assists businesses in securing a 95% guarantee on a bank loan. The FDCs are listed below and they work directly with lenders to underwrite the loan, which the SBFC guarantees (upon approval), please reach out to them directly for assistance.
Additionally, many local government agencies are offering assistance and resources as this has been officially declared a federal and state emergency. Check your city and county, as well as these sites, for more information: