Small Businesses Get Holiday Boost from Los Angeles County
Los Angeles County kicked off Small Business Saturday with a gift for struggling businesses and nonprofits – a program offering $584,000 in grants. This initiative, open until the New Year, aims to help organizations still recovering from the pandemic’s economic blows.
The Economic Opportunity Holiday Grant Program, launched by the LA County Department of Economic Opportunity (DEO) in partnership with the Pacific Asian Consortium of Employment (PACE), is specifically designed to address ongoing challenges faced by these vital community pillars.
"At DEO, we know how important our small businesses and nonprofits are to our economy," shared DEO Director Kelly LoBianco. "We also know how important capital is to small businesses and nonprofits — for recovery, for growth, and for innovation. We are happy to announce our Economic Opportunity Holiday Grant Program and continue to unlock capital opportunities for our amazing community of entrepreneurs.”
This recent program is part of a larger Economic Opportunity Grant Program spearheaded by the DEO, which has already distributed a whopping $55.7 million in grants to 5,151 businesses and nonprofits affected by the pandemic and economic uncertainty. Funding for these grants comes from the American Rescue Plan Act and the State Office of the Small Business Advocate.
Los Angeles County Supervisor Holly Mitchell emphasized the importance of this initiative, stating, "I cannot think of a better way to celebrate Small Business Saturday than by expanding access to funding for small businesses, which are the economic engine and cultural fabric of our communities. Through the County’s Economic Opportunity Grant Program, we are equitably distributing American Rescue Act dollars to help reach small businesses across Los Angeles, including women-owned businesses and businesses of color that have historically faced limited access to capital.”
William Chun, Chief Operating Officer for PACE, echoed the sentiment, adding, "We are excited to partner with the county leadership and the County Department of Economic Opportunity in launching the Economic Opportunity Holiday Grants program. With small businesses and non-profits still trying to survive after the pandemic, this program shows the county’s continuing commitment in helping those that need it the most.”
The application process for the new grant program will remain open until after the New Year’s holiday, with funds expected to be disbursed in February 2025.
For more information, interested applicants can visit the DEO website at opportunity.lacounty.gov.
## LA County Unwraps $584,000 Holiday Gift for Struggling Small Businesses and Nonprofits
Los Angeles County is spreading holiday cheer to its small businesses and nonprofits with a timely financial boost. The Economic Opportunity Holiday Grant Program, a collaboration between the LA County Department of Economic Opportunity (DEO) and the Pacific asian Consortium of Employment (PACE), will distribute $584,000 in grants to organizations still grappling with the pandemic’s economic fallout.
This holiday initiative is just the latest installment in the DEO’s broader Economic Opportunity Grant Program, which has already provided $55.7 million in aid to over 5,000 businesses and nonprofits. We spoke with Kelly LoBianco, Director of DEO, and William Chun, Chief Operating Officer of PACE, to delve deeper into this timely program and its potential impact.
**Kelly LoBianco, Director of the LA County Department of Economic Opportunity**, has overseen the Economic Opportunity Grant Program since its inception. **William Chun,** as **Chief Operating Officer of PACE**, brings extensive experience in supporting small businesses and minority-owned enterprises through access to capital. Together, they provide valuable insights into the program’s importance and potential.
### Targeting Economic recovery & Growth
**Q: This new holiday grant program follows a larger effort to support businesses impacted by the pandemic.** **Can you explain the specific focus of this recent initiative and how it builds upon past efforts?**
**Kelly LoBianco:** absolutely! This holiday program builds upon the success of our larger Economic Opportunity grant Program. It specifically addresses the ongoing challenges faced by small businesses and nonprofits struggling to regain their footing after the pandemic. This dedicated funding aims to provide a vital boost during the critical holiday season, helping these organizations stay afloat, retain employees, and position themselves for future growth.
### Equitable Access to Capital
**Q: Supervisor Holly Mitchell emphasized the importance of equitable distribution of funds,notably to women-owned businesses and businesses of color. Can you elaborate on the program’s commitment to inclusivity?**
**William Chun:** We deeply understand that access to capital has historically been unequal, with businesses owned by women and people of color often facing greater barriers. This program is designed to bridge that gap.
We are actively reaching out to communities that have been disproportionately impacted by the pandemic, ensuring they are aware of this opportunity and have the support they need to apply. Our team provides guidance and resources in multiple languages to ensure inclusivity.
**”We are excited to partner with the county leadership and the County Department of Economic Opportunity in launching the Economic Opportunity Holiday Grants program. With small businesses and non-profits still trying to survive after the pandemic, this program shows the county’s continuing commitment in helping those that need it the most.” – William Chun**
### A Pathway to Innovation
**Q: Beyond immediate relief, are there any long-term benefits you anticipate for businesses participating in this program?**
**Kelly LoBianco:** Definitely. Beyond providing immediate relief, these grants can be a catalyst for growth and innovation. By alleviating immediate financial burdens, businesses can invest in new initiatives, hire staff, upgrade equipment, or even pursue new markets. This can lead to increased competitiveness and long-term sustainability.
### Supporting the County’s Economic Engine
**Q: How important is this program for the overall economic recovery of Los Angeles County?**
**William Chun:** Small businesses are the backbone of our economy. They create jobs, generate revenue, and contribute to the vibrancy of our communities.
By supporting these vital organizations, we are investing in the future of Los Angeles County. A thriving small business ecosystem leads to a stronger and more resilient economy for everyone.
**Looking Ahead**
The Economic Opportunity Holiday Grant Program is a beacon of hope for small businesses and nonprofits striving to overcome adversity. With its focus on accessibility and economic empowerment, this initiative could be a game changer for many organizations, paving the way for a robust and inclusive recovery in los Angeles County.
**Interested in learning more about this program? Visit the DEO website at opportunity.lacounty.gov. **
