November 29, 2022

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The Smart Business

New Wave of Little Business Reduction for Santa Monica Businesses – santamonica.gov

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Eligible Santa Monica businesses can implement beginning July 16 for a $5,000 grant

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July 15, 2021 10:06 AM&#13

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The City of Santa Monica and Santa Monica Chamber Basis are partnering with Nearby Initiatives Assist Corporation Los Angeles (LISC LA) to launch the Santa Monica Smaller Business Recovery Grants to guidance Santa Monica’s modest company group. Qualified Santa Monica organizations are urged to utilize from July 16 to July 30 for a $5,000 grant readily available at www.santamonica.gov/bizgrants. Early applications are encouraged. 

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The Santa Monica Smaller Enterprise Restoration Grant will provide $5,000 grants to around 75 suitable compact brick-and-mortar enterprises found in the City of Santa Monica. Qualified organizations have to have been in existence considering that September 4, 2019, and in present operation with once-a-year revenue beneath $2 million. Grant winners will be preferred by way of an on line, randomized application technique. Corporations that are found in reduced- and moderate-income census tracts will receive supplemental weighting. At this time, the grant is restricted to for-revenue companies with existing storefronts in Santa Monica long run grants will be available for Santa Monica nonprofits later on this summertime. House-based mostly businesses are not qualified. 

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Funded by the Town of Santa Monica’s We Are Santa Monica Fund ($200,000), the Chamber Basis ($25,000), American Rescue Prepare Act funds ($200,000), personal donors, and regional firms and charitable nonprofits like The best possible Seismic, Rotary Club of Santa Monica, and Santa Monica Area, more than $440,000 has been raised to help our nearby organization local community.  The Santa Monica Small Enterprise Recovery Grant will be managed by LISC LA, a non-profit community development financial establishment (CDFI). LISC LA also managed the distribution of over $100 million in grants to modest companies throughout Los Angeles County via the LA Regional COVID-19 Restoration Fund in 2020 and 2021.  Intrigued donors can lead to the We Are Santa Monica Fund at www.calfund.org/wearesantamonica (Choose “Business Recovery”).  

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“We know that the past 16 months had been a pretty challenging, unpredictable time for Santa Monica corporations. They tailored their functions to safely and securely provide our neighborhood and did so with willpower and grit,” says Mayor Sue Himmelrich.  “We are keen to assist our Santa Monica companies as they intention for recovery and I urge all Santa Monica compact firms to utilize. These critical resources are the outpouring of a local community-wide effort and we’re grateful for each greenback contributed.”

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The modest company grant software is element of the City’s precedence for an Equitable and Inclusive Financial Recovery and builds on present economic recovery initiatives which includes supporting susceptible populations, advancing nearby organization and community vitality via systems like outdoor eating, promoting risk-free indoor and outside areas, and a strong communications and outreach work. 

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“Santa Monica is a neighborhood that bands jointly and lifts 1 another up when situations are tricky. The Santa Monica Compact Business Recovery Grants are one more case in point of our caring group and our resolve to assist our lively business community to survive soon after a devastating 12 months,” explained Santa Monica Chamber of Commerce President/CEO Laurel Rosen.

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“We applaud the City of Santa Monica for its determination to revitalize its tricky-hit smaller business enterprise group through this system,” explained Tunua Thrash-Ntuk, LISC LA Government Director. “LISC LA looks ahead to distributing this focused economic relief to modest organizations throughout the town and encouraging Santa Monica rebuild its industrial corridors.” 

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Eighty-eight p.c of the Santa Monica enterprise community is comprised of little organizations. As California carries on its reopening approach, grants like the Santa Monica Tiny Business Recovery Grant are crucial to equipping our smaller firms for a productive recovery. Grant programs can be submitted by way of Friday, July 30. Corporations are inspired to implement early. For more data, you should visit www.santamonica.gov/bizgrants.

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