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The L.A. Regional COVID-19 Recovery Fund is a $3 million fund for micro-entrepreneurs, small businesses, and nonprofits. Those selected will receive between $5,000 and $15,000. There are six founds of funding and the fourth is open as of today.
Micro-entrepreneurs and eligible for $5,000. They include those who work in the gig economy, sole proprietors, street vendors, independent contractors, 1099 workers, and LLCs with revenues of $100,000 or less in the most recent available tax return.
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Small businesses are eligible for $15,000. Applicants must be an “active” business with the Secretary of State and must have a yearly gross revenue of more than $100,000, but less than $1 million in the most recent available tax return.
Nonprofits are eligible for $15,000. They must have a total revenue of more than $50,000 but less than $1 million based on the most recent available 990 form. They must also provide supportive services to low- to moderate-income people or families in L.A. County.
This round of funding closes on September 4. If you’re selected, you’ll be notified by September 14. The opening date for the fifth round has yet to be announced.
For more information, including additional requirements, or to apply, click here.
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