The City of Los Angeles allocated American Rescue Plan Act (ARPA) funds to provide grants to eligible microenterprises and small businesses in need of economic support due to the COVID-19 pandemic. Each round of the Comeback Checks Program will provide $5,000 grants to approximately 5,000 businesses in the City of Los Angeles.
There are three business types that are eligible for the Comeback Checks grant program. They include:
1. Microenterprises:small businesses with five (5) employees or less, including the owner(s), with less than $100 thousand in annual gross revenue 2. Small Businesses:businesses with less than $1 million in annual gross revenue 3. Small to Medium Businesses:businesses with have yearly gross revenues between $1,000,000 and $5,000,000 in the most recent tax return
Grant recipients will be selected through a weighted lottery process, with final award recommendations based on the availability of funds, program guidelines, submission of all required information, and supporting documentation. Grant funds may only be used for allowable costs incurred on or after March 3, 2021.
Finalists will be notified 10 business days after the close of each round. This round closes Feb 7th. Applicants that are not selected as finalists at the end of a round will remain eligible for the next.
The City has engaged Community Reinvestment Fund (CRF) to assist with the implementation of the Program. Correspondence regarding this Program, including award notices, will be issued by CRF. It is the responsibility of applicants to respond to requests for information and documentation in a timely manner. EWDD’s nine BusinessSource Centers are available to assist prospective applicants. Find the location nearest you here.
More details at: https://ewddlacity.com/index.php/recovery/comebackla