City of Los Angeles Microloan Program

City of Los Angeles Microloan Program- The city of Los Angeles – EWDD is offering loans citywide to businesses affected by COVID-19. Business owners can apply for a loan between $5,000 to $20,000

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There are two options on interest rates:

  • Option 1 – 0% for a term of 6 months to 1 year or
  • Option 2 – 3% to 5% for a term of up to 5 years.

This program provides the financing needed to viable microenterprises and small businesses hit by COVID-19.?? The loans can be used for working capital only.