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78 Local Small Businesses Get Recovery Grants
 

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Santa Monica

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By Lookout Staff

September 24, 2021 -- At total of 78 small businesses of all kinds across Santa Monica received $5,000 grants this month to help them recover from the coronavirus shutdown.

The money came from community members, business leaders and nonprofits who donated to the City's "We Are Santa Monica Fund" and from the Santa Monica Chamber of Commerce Foundation.

The grantees were "chosen through an online, randomized application system" from among 475 local businesses with annual revenues below $2 million, City officials said.

“This has been such an unprecedented and challenging 18 months for our businesses,” said Jennifer Taylor, the City of Santa Monica’s Economic Development Manager.

“We know many business owners are still struggling with outstanding bills and expenses, and we hope these grants can provide extra support to our small business community.”

Funding was distributed "across all neighborhoods to a range of industries" by Local Initiatives Support Corporation Los Angeles (LISC LA) which managed the funds on the City’s behalf.

Seventy-six percent of the funding went to services or retail industries, and 44 percent of the grantees reported annual revenues below $250,000.

Half are minority-owned or led by people of color and half are women-owned or led, City officials said.

Fifty-one percent are from Low- or Moderate-Income (LMI) Census tracts, with 36 percent of the grantees located in the zip code 90405, which include the Sunset Park and Ocean Park neighborhoods.

“As cities plan and begin to implement their COVID-19 economic recovery strategies, it is imperative that they do it equitably to ensure that small businesses owned and led by women and people of color aren't left behind -- and the City of Santa Monica is doing just that,” said Tunua Thrash-Ntuk, Executive Director of LISC LA.

"We hope that with additional funding, we can continue to help the city rebuild and distribute this economic relief across the city."

The State recently announced $1.5 billion in funding as part of the California Small Business COVID-19 Relief Grant Program. the grants range from $5,000 to $25,000.

Businesses must apply through the State’s funding portal by September 30. For more information and to apply visit www.CAReliefGrant.com

To donate to the We Are Santa Monica Fund, visit calfund.org/wearesantamonica


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