FOUND/LA Small Business Recovery Fund
The application for this program is now closed.
From local restaurants and retail storefronts to neighborhood salons and coffee shops, over the last year, we have seen the pandemic take an economic and emotional toll on far too many small businesses who are now forced to close their doors. Across the country, we know minority entrepreneurs and small businesses face the greatest challenges, as long-standing issues like inequitable access to access to capital have only been amplified by the pandemic. Los Angeles has suffered one of the highest small business closure rates across the country, and we wanted to do more to help.
With a generous donation from FOUND/LA, an initiative of Wurwand Foundation, and outreach support from Small Business Majority, we are launching the FOUND/LA Small Business Recovery Fund grant program to protect small businesses across Los Angeles County that make our neighborhoods feel like home.
Meet the Recipients
Grant Sponsor
About FOUND/LA
FOUND/LA connects local entrepreneurs with funding, coaching, and a like-minded community so their businesses, neighborhoods, and cities can thrive. FOUND/LA loves nothing more than seeing a smart idea come to life. That’s why they connect future and existing business owners—particularly women, immigrants, and minorities—with resources to help them succeed. That includes funding, educational tools, incubator-style workshops, unique mentorship opportunities, and most importantly, a community of other local entrepreneurs.
Eligibility
Eligible business owners can apply for grant support during open application windows. Applicants will submit complete applications and required documents. Those who meet the eligibility requirements listed below will be entered into a pool of eligible applicants. On designated selection days, grant recipients will be randomly selected from this pool until funds are expended. The size of the grant will be between $5,000 and $25,000 depending on the size of the business and other factors.
Eligibility Requirements
Must be located in Los Angeles County
Must be a brick-and-mortar business (serving the neighborhood in which they’re located, where customers can come in or pick up from)
Between 0— 5 employees in March 2020 (includes full time, part time, and/or contracted workers). If you have 6 - 20 employees you can apply for a FOUND/LA grant from our partner Pacific Community Ventures
Evidence of profitable business pre-COVID (verified by tax returns)
Must have annual revenue of between $30k and $3M
Evidence of being negatively impacted by COVID
Company founded by February 2019
Applicant must own at least 50% of the business
Must be willing to complete the application process
Must be willing to have your story told in FOUND/LA and/or TMC Community Capital’s print, digital, and audio outlets.
Please note, Ineligible Businesses
Professional service businesses (i.e. law offices, marketing agencies, accounting firms, real estate, insurance, etc.)
Medical offices (i.e. dental, optometry, etc.)
Financial Services (i.e. banks, lenders, etc)
50% or more B2B
Home-based businesses
100% e-commerce companies
Gig-economy workers
1099 independent contractors
Cannabis-based, tobacco, liquor, & adult entertainment businesses
Nonprofits, political or religious organizations
Application Windows
Round 1: Closed
Opened Monday, December 14th, 2020
Closed Sunday, December 20th, 2020 at 11:59pm
Awardees were selected & notified Monday, Dec. 21st, 2020
Round 2: Closed
Opened Monday, January 11, 2021
Closed Sunday, January 17, 2021 at 11:59pm
Awardees will be selected & notified on Thursday, Jan. 21, 2021
Round 3: Closed
Application window opened: Monday, February 15, 2021 at 9:00am
Closed: Sunday, February 21, 2021 @ 11:59pm
Selection & Notification: Wednesday, February 24, 2021
Round 4: Closed
Application window opens: Monday, March 15, 2021 at 9:00am
Closes: Sunday, March 21, 2021 @ 11:59pm
Selection & Notification: Wednesday, March 24, 2021
Note: All applicants from Rounds 1, 2, and 3 will automatically be entered into Round 4.
Grant Size
Grant Amount
$5,000 to $25,000
How Grant is Calculated
Cost of one month’s rent + $2,000 per employee (including owner, part-time, full-time, or ‘independent’ contractors) up to $25,000.
Does the grant need to be repaid?
No. Grants do not need to be repaid.
Process
Application
Complete the short application below and upload the following documents to be entered into our grant lottery.
Required Documents
Copy of current City business license
Copy of your 2019 Tax Return
Copy of Form 941 from Q1 2020 and/or 1099 if you have employees
Copy of lease + canceled check to verify rent, if you have an active lease
Selection
Those who meet the eligibility requirements will be entered into a lottery. On the designated selection days, grant recipients will be randomly selected from this pool via lottery. Applicants will remain in the lottery until all funds are expended.
Apply Now
Apply below based on the number of employees your business had during March 2020.
If your business has 5 or less employees, use the button below to start your application.
If your business has 6 to 20 employees, use the button below to start your application.
Frequently Asked Questions
Q : Do I have to pay back this grant?
No, if you are awarded a grant you do not have to pay it back.
Q : Do I qualify if I am a business owner with no employees?
Yes, you would qualify for this program.
Q : If I am late on my business rent payment, do I still qualify?
Yes, you would qualify for this program as long as you can prove you still have an active lease.
Q : If I gave up by business lease and pivoted to a mobile business, would I still qualify?
Yes, you would qualify for this program. We would remove the rent variable from the grant calculation equation.
Q : If I own a home-based business that is open to the public and we serve customers there, would I still qualify?
Yes, you would qualify for this program. We would remove the rent variable from the grant calculation equation.
Q : If my business is not selected in round 1, will I be considered for round 2?
Yes, if your business is not selected in the lottery for round 1, your application will remain eligible for round 2. If you are awarded a grant in round 1, you would not be eligible for round 2.
Still have additional questions?
Please email info@tmccommunitycapital.org