October 27, 2020 #1 Local News, Forum, Information and Event Source for Venice Beach, California.

Los Angeles Issuing Microloans to Small Businesses Impacted by COVID-19

Additional cases confirmed in Venice

By Sam Catanzaro

As the number of confirmed COVID-19 cases continues to grow, including additional Venice cases, local officials have put forward measures to support small businesses impacted by the outbreak.

According to the Los Angeles Department of Public Health (Public Health), there have been 536 cases of COVID-19 across the county, including seven in Venice.

On Sunday, Public Health announced the fifth death from COVID-19, a senior from Culver City.

“We are deeply sorry for the passing of loved ones and send our prayers to the families and friends of those who have died from COVID-19,” said Barbara Ferrer, Public Health Director. “It is critical that everyone practices social distancing, obey the Safer at Home Health Officer Order and assume that anyone can have COVID-19, and anyone could unintentionally infect others. Please know that the actions you take today to stay 6 feet away from others and limit all non-essential activities outside your home are the best way for us to slow the spread of COVID-19 and save lives.”

In light of the sweeping impact the COVID-19 pandemic is having on the small business community, the City of Los Angeles has responded by establishing a Small Business Emergency Microloan Program. Businesses that meet the criteria can apply for loans between $5,000 and $20,000.

According to the City, these loans are for microenterprises in the City of LA that are low-income or will retain low-income jobs and small businesses in the City of LA that will retain low-income jobs. Businesses must show that historical profits were sufficient to service the requested debt and have been impacted by the COVID-19 outbreak.

To learn more, visit ewddlacity.com/index.php/microloan-program

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