LA County Launches $584K Economic Opportunity Holiday Grant for Small Businesses

Los Angeles County has opened applications for a new grant program that offers $584,000 to small businesses and nonprofits. This initiative coincides with Small Business Saturday and aims to support entities recovering from the coronavirus pandemic.

The Economic Opportunity Holiday Grant Program is launched by the LA County Department of Economic Opportunity (DEO) in partnership with the Pacific Asian Consortium of Employment (PACE). DEO Director Kelly LoBianco highlighted the significance of small businesses and nonprofits for the local economy, emphasizing the need for funding to aid their recovery and growth.

This grant program is part of a larger effort by DEO, which has provided $55.7 million in grants to 5,151 small businesses and nonprofits affected by the pandemic and other economic challenges this year. The funding comes from the American Rescue Plan Act and the State Office of the Small Business Advocate.

Los Angeles County Supervisor Holly Mitchell remarked that expanding access to funding for small businesses is a fitting way to celebrate Small Business Saturday. She noted that the program aims to reach small businesses throughout Los Angeles, especially those owned by women and people of color, who often have had limited access to funding.

William Chun, COO for PACE, expressed excitement about the collaboration with the county to launch this grant program. He stated that it reflects the county’s commitment to assist small businesses and nonprofits during their recovery.

Applications for the grants will be open until the New Year, with funds expected to be distributed in February 2025. More details can be found on the DEO website at opportunity.lacounty.gov.