Small Business Emergency Microloan Tracker
The City of Los Angeles created the Small Business Emergency Microloan Program in March 2020 to distribute $11 million in funds to local businesses that are not eligible for federal CARES Act dollars. Administered by the Economic and Workforce Development Department (EWDD), the program has distributed more than $3.4 million through 227 loans in amounts between $5,000 and $20,000 since early April. L.A. Controller Ron Galperin, in coordination with EWDD, created this Emergency Microloan Tracker to ensure public accountability and give Angelenos access to up-to-date information on how the City is supporting the local economy.
Explore the tracker below to see the distribution of microloans throughout the city. Click on an industry to filter the map to only businesses in the selected categories.
The City has distributed $1.4 million in loans to hospitality businesses, including restaurants, bars and cafes. Thirty-three retail businesses have received a total of $458,000. Another 33 microloans were distributed to businesses categorized as “other” by EWDD, which includes tattoo shops, pet stores, dry cleaners and more.
View the full list of microloan recipients below. Use the filters on the right-hand side to sort the list by industry, City Council District and amount funded. This information is updated through June and will be updated as the program progresses.
The City’s Small Business Emergency Microloan Program offers relaxed underwriting with no credit score minimum, a generous allowance to meet debt service, and a 100 percent loan to value ratio. The interest rate is either zero percent for a term of six months to one year, or three percent to five percent for a term of up to five years. Click here to learn more about the program.
Visit Controller Galperin’s COVID-19 Resource Hub to view more information about the impact of COVID-19 and get connected with resources you need.