LISC LA has partnered with the County and City of Los Angeles along with other philanthropic partners to oversee and manage the new LA COVID-19 Regional Recovery Fund. The regional Fund will create a much-needed new wave of relief and recovery tools for small businesses, non-profits providing essential services, immigrant-owned enterprises and the most vulnerable Angelenos impacted by COVID-19. The first phase of the program includes a $3 million grant fund for microenterprises, small businesses and nonprofits.
"LISC LA is proud to be selected as a fund administrator to help lead this economic recovery initiative that includes administering loans, grants, technical assistance, and other resources to local entities throughout the LA region," says Tunua Thrash-Ntuk, LISC LA Executive Director
Small businesses and nonprofit organizations in low-income and underserved communities cannot wait any longer for relief and recovery efforts during these difficult times.
— Tunua Thrash-Ntuk, Executive Director of LISC LA
“LISC has a long history of garnering and deploying grant and loan capital for disaster relief. We are prepared to respond to the unexpected economic crisis at hand with the deployment of the LA COVID-19 Regional Recovery Fund, as well as raising more grant dollars, creating more loan opportunities, developing new products, and reallocating staff to meet this urgent situation,” says Tunua Thrash-Ntuk.
The economic stress caused by COVID-19 has been particularly damaging to small businesses and organizations who have been unable to access federal funding due to size, lack of technical assistance, and cultural barriers. The County and the City of Los Angeles chose LISC LA to act as its partner and intermediary for the LA COVID-19 Regional Recovery Fund based on the non-profit’s expertise in community development through grant and loan capital deployment.
To date, LISC has established its own multi-million-dollar Rapid Relief and Recovery Fund, providing grants ranging from $2,500 to $10,000 for small businesses nationwide. LISC has also raised millions in generous donations from corporate partners like Verizon and Sam’s Club, and is an SBA lender providing both technical assistance and PPP lending to small businesses and nonprofits.
With over 40 years of experience connecting communities to resources and opportunities, LISC LA has the knowledge of seasoned community partners along with the aptitude for expediency to support the expansive capacity of the LA COVID-19 Regional Recovery Fund and provide necessary relief to Angelenos. In partnership with the County and City of Los Angeles, LISC LA will continue to expand its commitment to building resilient and inclusive communities for people, places and businesses to create equitable prosperity and opportunity, especially in times of crisis.