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County Launches Small Business Loan Program Starting Jan. 28


By City News Service
Jan 22, 2021
LOS ANGELES (CNS) - The Los Angeles County Development Authority announced today it will launch a small business loan program on Jan. 28 to help prevent job losses and business closures amid the COVID-19 pandemic.
The Small Business Stabilization Loan Program is funded with $10 million from the U.S. Economic Development Administration through a federal COVID-19 relief act, according to the authority.
Loans ranging from $50,000 to $3 million will be given to eligible businesses that have been in operation for at least two years, are seeking working capital, equipment purchases, real estate acquisition or refinancing of existing loans at higher interest rates, the authority said. ....

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