ABC’s Growth Capital product offers eligible businesses with flexible financing between $50K - $250K at 0% interest to purchase machinery, equipment, technology, inventory, or leasehold improvements. Recipients will be provided up to 30 hours of tailored, one-on-one technical assistance beginning with the application process.
Eligibility Criteria
To be eligible for Growth Capital, businesses must meet the following criteria:
Serve a low-to-moderate income community in Los Angeles County
Have operated for at least 2 years with 2 years of tax returns
Have minimum sales (or budget and cash flow projections of sales in the next year) of at least $200,000 annually
Request a minimum loan for asset purchases of at least $50,000
Prepare a description and cost estimate of the eligible assets the business plans to acquire with the loan
For more information, check out the fact sheet and FAQ.
If you meet the eligibility criteria and are interested in being considered for Growth Capital, complete the intake form and a member of our team will follow-up with you.
If your business is not a candidate for Growth Capital, you may be eligible for ABC’s Micro-loan product offered by our partner, Inclusive Action for the City.
Learn More
Sign up for one of our free monthly webinars! Led by LISC LA program officers, the info sessions will cover everything you need to know about the ABC program, eligibility, and the application process.
To learn about Growth Capital terms, conditions, and submission requirements, see our Fact Sheet and FAQ below. For general inquiries, feel free to reach out to the ABC team at abclosangeles@lisc.org.
Check out our Growth Capital recipient success stories!
What are the qualifications for acceptance in Growth Capital?
Qualifying businesses must be for-profit entities based in LA County that have filed as corporations, limited liability companies, or partnerships, and meet the following criteria:
Serve a low-to-moderate income community in Los Angeles County
Have operated for at least 2 years with 2 years of tax returns
Have minimum sales (or budget and cash flow projections of sales in the next year) of at least $200,000 annually
Request a minimum loan for asset purchases of at least $50,000
*Businesses that have fewer than 2 years of tax returns but that otherwise qualify and show exceptional promise may be considered for inclusion in the program; or, they may be referred to our partners.
LISC LA will review your completed intake form and respond to you, indicating one of the following options:
You have been referred to a Technical Assistance (TA) provider who will conduct a financial health check of your business in preparation for submission of a full response to LISC's Request for Information.
You do not qualify for the program, or your business may not be ready for submission at this time; or the program is unable to consider your submission because our program is at full capacity.
How much financing can my business receive through Growth Capital?
Financing may range from $50,000 to $250,000 for the purchase of Eligible Assets. The precise amount will be determined by the size of the business, its operating history, its sales, the assets to be purchased, and the company’s ability to repay the financing. Typically, the amount of the loan may not exceed 25% of the applicant’s annual sales.
What types of assets are eligible for financing under Growth Capital?
Funds may be used for the purchase of machinery, equipment, new or updated technology, inventory, or leasehold improvements not to exceed $100,000. The number of assets and the amount of financing will be determined based upon the business, its operating history, and its ability to repay the debt.
What are the financing rates and terms for Growth Capital?
The Growth Capital product provides low-cost, flexible financing. The interest rate is 0.0% per annum, with a flexible term. Closing costs are 3% of the loan, payable at closing. At month 12, LISC will review the sales, cash flow, and growth of the business and will determine a repayment schedule for the remaining term that reflects the company’s ability to repay.
ABC’s Growth Capital product offers eligible businesses with flexible financing between $50K - $250K at 0% interest to purchase machinery, equipment, technology, inventory, or leasehold improvements. Recipients will be provided up to 30 hours of tailored, one-on-one technical assistance beginning with the application process.
