§ RESOURCES · 3 MIN READ
LA County Has Money for Your Business
The county's Small Business Mobility Fund is handing out grants, not loans, to people opening and formalizing businesses. One program is open right now. Here is who qualifies and who to call.
By Culture
THE SHORT VERSION
Los Angeles County's Small Business Mobility Fund gives grants, money you do not pay back, to small business owners who live in the county. Formalization Grants for owners making an informal business official are open until the money runs out, and the county's Office of Small Business takes calls at 844-432-4900.
Most money for small businesses is a loan. It comes with interest and a due date. This is not that. Los Angeles County's Department of Economic Opportunity runs a program called the Small Business Mobility Fund, and it gives grants: money you apply for, receive, and never pay back. Here is what is in it, what is open today, and exactly who to call.
What's Open Right Now
Formalization Grants. These are for people who have been running a business informally, from a kitchen, a garage, a truck, a folding table, and want to make it official: permits, licenses, a registered name, a real bank account. The county says applications are ongoing until the dollars are exhausted. That means the line is open today and closes when the money is gone, so move.
What Closed, and What Comes Back
Launch Grants gave 5,000 dollars to businesses opening in a non-retail commercial space, like an office or a warehouse, and 10,000 dollars to businesses opening a storefront. Round one, announced in April, put 105,000 dollars into twelve businesses. Applications for this year closed June 1. The county has run this in rounds, so keep your paperwork ready for the next one.
Entrepreneurship Academy Grants pay 2,000 dollars to people who finish the county's free Entrepreneurship Academy and are ready to launch or grow. This year's application window closed in February, but the academies keep running, and finishing one is the ticket. Ask the Office of Small Business when the next class starts.
Who Qualifies
The rules are similar across the programs. You need to check every box.
Have these ready before you call: a government ID, proof of where you live, a simple business plan, your business license or the application for one, your DBA or fictitious business name filing, and last year's tax return.
“A loan bets on your future. A grant bets on your present. Take the bet.”
Who to Call
Do Not Stop at the County
County money is one line. Stack it. The Compton Small Business Microgrant is a separate, smaller pot with its own application, and applying for both is normal, not greedy. While the paperwork is moving, put the business where people can find it: a free listing in the directory is the difference between a formalized business and a findable one.
And read what the people ahead of you did with theirs. A hundred years ago Maggie Lena Walker chartered a whole bank because nobody was handing out anything.
One more thing. The people who get this money are the people who apply. That sounds obvious. It is also the whole difference.
- What is the LA County Small Business Mobility Fund?
- The Small Business Mobility Fund is a grant program run by the Los Angeles County Department of Economic Opportunity. It gives money you do not pay back to small business owners who live in the county, through Formalization Grants, Launch Grants and Entrepreneurship Academy Grants.
- What is an LA County Formalization Grant?
- A Formalization Grant helps people who run a business informally, from a kitchen, garage, truck or folding table, make it official with permits, licenses, a registered name and a real bank account. Applications stay open until the money runs out.
- How much are LA County Launch Grants?
- Launch Grants gave 5,000 dollars to businesses opening in a non-retail space like an office or warehouse and 10,000 dollars to businesses opening a storefront. Round one put 105,000 dollars into twelve businesses, and this year's applications closed June 1.
- What is the Entrepreneurship Academy Grant?
- The Entrepreneurship Academy Grant pays 2,000 dollars to people who finish LA County's free Entrepreneurship Academy and are ready to launch or grow. This year's window closed in February, but the academies keep running.
- Who qualifies for an LA County small business grant?
- You need to live in Los Angeles County, own more than half the business and run it day to day, and run a for-profit business with under 6 million dollars in revenue and fewer than 100 employees. You also need to be current on taxes and licensing, or willing to get current.
- What documents do I need to apply for an LA County business grant?
- Bring a government ID, proof of where you live, a simple business plan, your business license or the application for one, your DBA or fictitious business name filing, and last year's tax return.
- Who do I call about LA County business grants?
- Call the LA County Office of Small Business at 844-432-4900 or email osb@opportunity.lacounty.gov, or ICON CDC, the partner that processes applications, at 818-616-4118 or info@iconcdc.org. Say the words Small Business Mobility Fund.
