New Wave of Small Company Aid

The Town of Santa Monica and Santa Monica Chamber Basis are partnering with Nearby Initiatives Help Company Los Angeles (LISC LA) to launch the Santa Monica Smaller Business enterprise Recovery Grants to assist the Santa Monica’s little business neighborhood. Eligible Santa Monica organizations are urged to use from July 16 to July 30 for a $5,000 grant readily available at www.santamonica.gov/bizgrants. Early apps are encouraged.

The Santa Monica Tiny Enterprise Restoration Grant will give $5,000 grants to over 75 qualified smaller brick-and-mortar firms positioned in the Town of Santa Monica. Eligible enterprises have to have been in existence considering that September 4, 2019, and in recent procedure with an once-a-year profits beneath $2 million. Grant winners will be picked out by way of an on the net, randomized application program. Corporations that are located in minimal- and moderate- money census tracts will obtain further weighting. At this time, the grant is restricted to for-gain companies with current storefronts in Santa Monica foreseeable future grants will be out there for Santa Monica nonprofits afterwards this summer time. House-based corporations are not eligible.

Funded by the Town of Santa Monica’s We Are Santa Monica Fund ($200,000), the Chamber Foundation ($25,000), American Rescue System Act resources ($200,000), specific donors, and regional companies and charitable nonprofits like Hulu, Ideal Seismic, Rotary Club of Santa Monica, and Santa Monica Area, around $440,000 has been raised to assist our community organization neighborhood. The Santa Monica Little Enterprise Recovery Grant will be managed by LISC LA, a non-earnings group growth economic institution (CDFI). LISC LA also managed the distribution of about $100 million in grants to compact firms throughout Los Angeles County by means of the LA Regional COVID-19 Restoration Fund in 2020 and 2021. Intrigued donors can lead to the We Are Santa Monica Fund at www.calfund.org/wearesantamonica (Decide on “Business Recovery”).

“We know that the last 16 months had been a really hard, unpredictable time for Santa Monica companies. They tailored their functions to safely and securely provide our local community and did so with dedication and grit,” says Mayor Sue Himmelrich. “We are eager to assistance our Santa Monica businesses as they goal for restoration and I urge all Santa Monica modest organizations to apply. These essential resources are the outpouring of a local community-large energy and we’re grateful for every greenback contributed.”

The smaller company grant software is portion of the City’s priority for an Equitable and Inclusive Economic Recovery and builds on present economic recovery efforts including supporting vulnerable populations, advancing regional organization and community vitality by way of applications like outdoor eating, promoting safe and sound indoor and outside spaces, and a strong communications and outreach hard work.

“Santa Monica is a neighborhood that bands jointly and lifts 1 yet another up when situations are tough. The Santa Monica Little Enterprise Recovery Grants are yet another case in point of our caring neighborhood and our determination to guidance our vibrant business enterprise group endure after a devastating 12 months,” reported Santa Monica Chamber of Commerce President/CEO Laurel Rosen.
“We applaud the Town of Santa Monica for its determination to revitalize its tough-hit smaller small business group by way of this method,” mentioned Tunua Thrash-Ntuk, LISC LA Executive Director. “LISC LA appears to be like ahead to distributing this focused economic relief to compact organizations throughout the city and assisting Santa Monica rebuild its business corridors.”

Eighty-8 p.c of the Santa Monica company community is comprised of smaller companies. As California proceeds its reopening approach, grants like the Santa Monica Smaller Business enterprise Restoration Grant are critical to equipping our small enterprises for a prosperous restoration. Grant purposes can be submitted by way of Friday, July 30. Corporations are inspired to implement early. For a lot more data, please go to www.santamonica.gov/bizgrants.

Constance Farrell, Santa Monica Community Information and facts Officer