The Los Angeles County Development Authority’s Small Business Stabilization Loan Program has reached its application limit as loan funding requests have exceeded $30 million.
When the application portal was closed Monday at 8 a.m., 96 applications had been received from small businesses requesting more than $30 million in assistance.
The applications received will be processed and funding is expected to start being deployed later this month.
Launched on January 28, 2021, the Small Business Stabilization Loan Program was designed to provide eligible businesses with a competitive interest rate for loans ranging from $50,000 to $3 million.
Businesses that applied for the program must have been in operation for at least two years and seeking working capital, equipment purchases, real estate acquisition, or refinancing of existing loans at higher interest rates.
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Because of the recent rainfall, Los Angeles County Health Officer Muntu Davis, MD, MPH, has issued a beach advisory for the county.
Davis cautions residents that bacteria, chemicals, debris, trash, and other public health hazards from city streets and mountain areas are likely to contaminate ocean waters at and around discharging storm drains, creeks, and rivers.
Individuals who enter the water in these areas could become ill.
This advisory will be in effect until at least Thursday, March 18 at 10 a.m. and may be extended depending on further rainfall.
Recorded information on beach conditions is available 24 hours a day on L.A. County’s beach closure hotline: 1-800-525-5662.
SCVNews.com | Public Health Issues Water Advisory for L.A. County Beaches scvnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from scvnews.com Daily Mail and Mail on Sunday newspapers.
The Los Angeles County Development Authority has announced that the Small Business Stabilization Loan Program will accept applications through April 16 or until it hits $20 million in funding requests, whichever occurs first.
Launched on January 28, 2021, the Small Business Stabilization Loan Program provides eligible businesses with a competitive interest rate for loans ranging from $50,000 to $3 million.
Businesses interested in applying for the Program must have been in operation for at least two years and seeking working capital, equipment purchases, real estate acquisition, or refinancing of existing loans at higher interest rates. As of March, the LACDA has received over $14 million in funding requests.