01 Feb LA County Development Authority Launches Small Business Loan Program
The Los Angeles County Development Authority has launched an affordable and flexible business loan program to support and help stabilize businesses in the region. Small Business Stabilization Loans range from $50,000 to $3 million, and can be used for working capital, equipment purchases, inventory, or refinancing of existing loans at higher interest rates.
- Businesses must have a physical location within Los Angeles County.
- Businesses must have been in operation for a minimum of two years at time of application.
- Click here for a list of ineligible businesses.
Fixed Wall Street Journal Prime rate. (Currently at 3.25%)
Working Capital – 5-7 years.
Equipment – Up to 10 years.
Real Estate Acquisition and Construction – Up to 20 years.
Learn more about this program and the steps to get started here: http://bizstabilization.lacda.org/