City Of Santa Monica: New Wave Of Small Business Relief For Santa Monica Businesses

Santa Monica CA

16 July, 2021

10:41 AM

Description

Press release from the City of Santa Monica: July 15, 2021 10:06 AM Eligible Santa Monica businesses can apply beginning July 16 for a $5,000 grant The City of Santa Monica and Santa Monica Chamber Foundation are partnering with Local Initiatives Support Corporation Los Angeles (LISC LA) to launch the Santa Monica Small Business Recovery Grants to support Santa Monica's small business community. Eligible Santa Monica businesses are urged to apply from July 16 to July 30 for a $5,000 grant available at www.santamonica.gov/bizgrants. Early applications are encouraged.  The Santa Monica Small Business Recovery Grant will provide $5,000 grants to over 75 eligible small brick-and-mortar businesses located in the City of Santa Monica. Eligible businesses must have been in existence since September 4, 2019, and in current operation with annual revenue under $2 million. Grant winners will be chosen through an online, randomized application system. Businesses that are located in low- and moderate-income census tracts will receive additional weighting. At this time, the grant is limited to for-profit businesses with existing storefronts in Santa Monica; future grants will be available for Santa Monica nonprofits later this summer. Home-based businesses are not eligible.  Funded by the City of Santa Monica's We Are Santa Monica Fund ($200,000), the Chamber Foundation ($25,000), American Rescue Plan Act funds ($200,000), individual donors, and local businesses and charitable nonprofits like Hulu, Optimum Seismic, Rotary Club of Santa Monica, and Santa Monica Place, over $440,000 has been raised to support our local business community.  The Santa Monica Small Business Recovery Grant will be managed by LISC LA, a non-profit community development financial institution (CDFI). LISC LA also managed the distribution of over $100 million in grants to small businesses across Los Angeles County through the LA Regional COVID-19 Recovery Fund in 2020 and 2021.  Interested donors can contribute to the We Are Santa Monica Fund at www.calfund.org/wearesantamonica (Select "Business Recovery").   Media Contact Constance FarrellPublic Information Officer [email protected] This press release was produced by the City of Santa Monica. The views expressed here are the author's own.