Small Business Emergency Microloan Program

In light of the sweeping impact the COVID-19 pandemic is having on our small business community, the City of Los Angeles has responded swiftly and decisively to support our local, community businesses. The newly established Small Business Emergency Microloan Program now provides financing needed to strengthen small business enterprises in this time of acute need that have been affected by the COVID-19 outbreak.

Businesses that meet the criteria below may apply online for a City of LA Small Business Emergency Microloan (click this link). To apply, register through our secure log-in system.
 

General Eligibility

• Certification: Business must have a Business Tax Registration Certificate with the City of Los Angeles' Office of Finance that was filed prior to March 01, 2020.
• Credit: Principal business owner(s) must have reasonable and responsible personal credit history and an acceptable explanation for any derogatory marks. Bankruptcies and debt write-offs must be at least 12 months old.
• Cash Flow: Businesses must show that historical profits were sufficient to service the requested debt and have been impacted by the COVID-19 outbreak.
• Location: Primary business operation must be located within City of Los Angeles boundaries (please use this City of LA online zoning tool to determine business location).
• Microloan Use of Funds: Must be for reasonable and eligible working capital expenses.
• Microloan Requirement: Job retention.
• Collateral: Evaluated on a case-by-case basis.
• Required Guarantors: All business owners who hold 20% or more ownership must guarantee the loan.
• Co-Signer: A co-signer with reasonable credit and sufficient income to re-pay the loan can be included as a guarantor to mitigate weaknesses in the loan request.
• Application Fees: No Application Fees.

Businesses may apply online for a City of LA Small Business Emergency Microloan (click this link). Registration will be required through our secure log-in system.

For more information, email the EWDD Emergency Microloan Management Team at EmergencyLoans@lacity.org or call 213-744-7130.

EWDD is currently experiencing a high volume of calls and emails. Please be assured that we understand your concern and will respond as quickly as possible.