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Businesses & Nonprofits Receive Covid-19 Financial Relief Through Employer Assistance Grant Fund

Businesses & Nonprofits Receive Covid-19 Financial Relief Through Employer Assistance Grant FundDue to the Covid-19 pandemic, local businesses and nonprofit organizations have been forced to close or significantly reduce their operations for long stretches of time and have experienced swift and enormous hardship through no fault of their own. In April, WDACS launched the Los Angeles County Employer Assistance Grant Fund (EAGF), a first-of-its-kind program in California, to provide direct financial relief to local businesses, nonprofits, and social enterprises experiencing economic hardship caused by the COVID-19 pandemic. Utilizing $500,000 in funding provided by the State Employment Development Department, and in partnership with the Robert Enterprise Development Fund (REDF), WDACS successfully distributed grants of up to $10,000 to 59 organizations across the county.

In September 2020, WDACS received an additional $47M in federal CARES Act funding that allowed the department to reopen and expand the EAGF to provide businesses in need with the opportunity to apply for one of three subgrant categories:

  • Pandemic Relief Funds (Up to $5,000) to help businesses offset costs related to compliance with local health orders and recommended safety measures.
  • General Employer Assistance Grants (Up to $30,000) to help support all Los Angeles County businesses impacted by COVID-19 for various eligible uses.
  • Social Impact Grant Funds (Up to $60,000) to help Social Enterprises and Social Community Business Enterprises (CBEs), which includes designations for Woman Business Enterprises (WBE), Minority Business Enterprises (MBE), and Disadvantaged Business Enterprises (DBE), or a certified B Corporation.

Through both rounds of our EAGF, WDACS disbursed $46.7 million in grants to 1,489 organizations, averted more than 6,000 layoffs, and retained an estimated $116M in revenue within the county. Additionally, 35% of funding went to organizations led by people of color, and awardees from various industries were represented in the fund, including, but not limited to, Hospitality, Travel, Entertainment, Professional Services, Education, Tech, Legal, Environmental, Healthcare, and Nonprofits.

 

 

 

 

 

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