COVID-19: Los Angeles County Development Authority response to the pandemic

Los Angeles County Development Authority - Business Needed Help. LACDA Provided Hope.

In recognizing the detrimental impacts of COVID-19, the Los Angeles County Developmental Authority (LACDA) extended a helping hand to small businesses undergoing economic hardship during these unprecedented times.Since April 2020, the LACDA has contributed to six loan and grant programs, including the transit Oriented Communities Metro Loan, Small Business Recovery Loan Program, LA Regional COVID-19 Fund, First District COVID-19 Business Relief Grant, Fourth District Business Grant, and Small Business Gran Assistance Program for even participating cities.

In an effort to prevent job loss and business closure, the agency expedited the development of program guidelines, maintained day-to-day operations, rolled out user-friendly portals, and directed nearly hourly engagements with partnering County Deprtments to ensure that the prescence of businesses remained in the communities they serve.Thus far, the LACDA has funded 252 small businesses and is documenting ongoing impacts.Through collaborative strategies and effective program implementation, the LACDA continues to provide equitable access to capital funds across various demographics and sustain resources within underserved communities.