The City of Malibu is launching a Small Business Grant (SBG) Program on August 24 to assist local businesses that have been economically impacted by the COVID-19 pandemic. Selected local business will receive up to $10,000 in grants.
On August 10, 2020, the Malibu City Council allocated $80,000 in Community Development Block Grant (CDBG) funding for the Small Business Grant (SBG) Program. The SBG Program will be administered by the Los Angeles Community Development Authority (LACDA).
To be eligible, small businesses must be located in the Malibu city limits, have fewer than 500 employees, have an active business license (issued by Los Angeles County), and have been in continuous operation in Malibu for at least two years. Grant funds can be used for operational business expenses.
Starting August 24, 2020, businesses can submit an intake form during the five-day open application period (August 24-28, 2020) online on the LACDA website. After the application period closes on August 28, 2020, a lottery will be conducted and selected businesses will be requested to complete an application.
LACDA will work with the selected businesses on behalf of the City of Malibu to complete the application form, execute an agreement, and provide the grant funds directly to local business owner(s).
This press release was produced by the City of Malibu. The views expressed here are the author’s own.