Metro Business Interruption Fund (BIF) for LA Small Businesses

Grant Overview

Financial Assistance for Businesses Impacted by Metro Rail Construction in Los Angeles

Donor: Los Angeles County Metropolitan Transportation Authority (Metro), Pacific Coast Regional Small Business Development (PCR)

About: The Los Angeles County Metropolitan Transportation Authority (Metro) has established the Business Interruption Fund (BIF) to provide crucial financial assistance to small, “mom-and-pop” businesses adversely affected by ongoing transit rail construction. This permanent program, administered in partnership with Pacific Coast Regional Small Business Development (PCR), demonstrates Metro’s commitment to supporting local economies and ensuring small businesses can continue to thrive during and after major infrastructure projects. The fund is a vital resource for enterprises experiencing revenue loss due to construction disruptions. If your business is facing challenges from these developments, exploring grant opportunities in Los Angeles can provide significant relief.

The primary purpose of the BIF is to mitigate the negative financial impacts of transit construction on adjacent small businesses. While these infrastructure projects promise long-term growth, the construction phase can present significant challenges. The BIF provides grants to cover essential fixed operating expenses, helping business owners maintain financial stability. This initiative specifically targets businesses along key construction corridors, including the Crenshaw/LAX Transit Project and the D Line Extension. Entrepreneurs looking for ways to navigate such challenges can find valuable resources and guidance through Grantaura’s expert grant services to identify and apply for relevant funding.

Metro has allocated $10 million annually to the Business Interruption Fund, allowing for substantial support to be distributed among eligible businesses. A single business can receive up to $60,000 or 60% of its annual revenue loss, whichever is less, helping to cover costs like payroll, rent, utilities, and insurance. This funding can be a lifeline for many small for-profit and non-profit entities struggling with the disruptions. For similar funding opportunities, businesses across the state can review various California small business grants available on our platform.

The application process is designed to be straightforward, managed through PCR’s online portal. Applicants are guided through four main steps, including submitting an online application and working with a dedicated Business Advisor to compile necessary financial documents. This structured support ensures that even business owners with limited experience in grant applications can effectively seek aid. For organizations needing structured financial documents, Grantaura offers specialized services like business plan development which can be critical for a successful application.

Focus: Business Interruption, Financial Assistance, Small Business Support, For-Profit, Non-Profit, Construction Impact Relief

Region: Los Angeles, California, United States

Eligibility:

– Must be a for-profit business or a non-religious, non-profit organization.
– Must have 25 or fewer full-time employees.
– Must be located immediately adjacent to a designated Metro transit rail construction corridor, with the property line abutting or facing the project.
— Eligible corridors include the Crenshaw/LAX Transit Project, the Regional Connector (Little Tokyo area and 2nd/Broadway segment), the D Line Extension (Sections 1, 2, and 3), and the East San Fernando Valley Light Rail Transit Project.
– Must have been in continuous operation for at least two years along the corridor.
– Must demonstrate a loss of business revenue directly related to the construction period.
– Must be solvent and in good standing with all local, state, and federal taxing and licensing authorities.
– Must have the ability to provide financial records such as gross receipts, tax returns, and bank statements.
– Commercial property owners may apply for eligible expenses like mortgage and utilities.
– Residential property owners are not eligible.

Benefits: – Financial assistance grants to cover fixed operating expenses.
– Eligible expenses include rent or mortgage, utilities, insurance, and payroll.
– Businesses may receive up to $60,000 or 60% of annual business revenue losses, whichever is less.
– Multiple requests for assistance can be filed.
– Direct support and guidance from a PCR Business Advisor throughout the application process.

Deadline: Ongoing

Terms: – BIF: Business Interruption Fund, the official name of the grant program.
– Metro: Los Angeles County Metropolitan Transportation Authority, the primary funding organization.
– PCR: Pacific Coast Regional Business Finance, the partner organization administering the BIF program.
– “Mom and Pop” Business: A term used to describe small, independent, family-owned or small-scale businesses, which are the primary target for this fund.
– Adjacent to a transit rail corridor: Refers to a business whose property line directly abuts or faces the rail corridor or a designated construction area.