Los Angeles is looking to invest $4 million int small business, offering the money to each city council district. The city loans will be as small as a few thousand to upwards of $250,000. Not only is Los Angeles looking to reach out to small businesses, but the SBA is also looking to restart “a multibillion dollar program to help small businesses restructure their commercial loans.”
Small businesses, especially brick and mortar types, will find these new opportunities welcoming. The ability to garner a loan will help companies expand and open new physical locations in prime real estate. Hopefully cities can follow suit and invest in their small businesses in the future.