La Verne Chamber Of Commerce: La Verne Launching Small Business Assistance Grant Program

Press release from La Verne Chamber of Commerce:

February 28, 2022

La Verne small businesses will soon be able to apply for a new business assistance program that will provide grants of up to $10,000 to help them deal with the financial impacts brought about by the COVID-19 pandemic. During their February 22 meeting, the La Verne City Council approved the new grant program which will be administered in partnership with the La Verne Chamber of Commerce (Chamber) and the University of La Verne Small Business Development Center (SBDC).
“Our local businesses are the heart of our city and the engine that helps drive our local economy, and so it is critical that we support them where we can,” said Eric Scherer, La Verne Community Development Director. “Many of our small businesses are still dealing with challenges brought about by COVID-19, and this new grant program will provide economic assistance to offset financial losses and help begin the process of recovery and returning to normal operations.”
A total of $1 million will be available to assist La Verne businesses. This means that, considering the maximum grant allocation of $10,000 per business, at least 100 businesses can receive help through this program. Applications will be reviewed on a first come, first serve basis, so business owners are encouraged to apply as soon as the application period opens in the coming months which will be announced by the Chamber and SBDC.
Eligible La Verne businesses, including but not limited to retail establishments, restaurants and professional services, will:
• Be a for-profit business that is physically located in a commercial or industrial space in La Verne. Please note that home-based businesses are not eligible to participate at this time.
• Be in good standing with the city and have a current City of La Verne business license since at least 2019.
• Employ between one and 25 full-time equivalent employees; for example, two part time employees may equal one full time employee.
• Have experienced a mandatory shutdown or a substantial change in business operations as a result of COVID-19, including demonstrating financial hardship by showing that revenues were down during the pandemic when compared to 2019 levels.
The grant money may be used for expenses incurred as a result of the pandemic as long as those expenses have not been recovered previously by other government programs, such as those funded through the CARES Act. Additionally, if grant funds are used for revenue replacement, the amount cannot exceed the loss of revenue experienced. More details about eligibility, how funds may be spent and other instructions will be released at a later date by the Chamber and SBDC.
The Chamber and SBDC will completely administer the business grant program, including promotion, processing applications, providing application assistance to businesses, record keeping and ensuring businesses are utilizing the grant funds according to established conditions. The City of La Verne will confirm a business’ eligibility and issue the checks which may reach applicants as early as 45 days after applications have been submitted.
The program is made possible through the use of American Rescue Plan Act funds (ARPA). The federal government allocated over $7.6 million to the City of La Verne through ARPA. The city received 50% of its total allocation ($3.8 million) at the end of its fiscal year in June 2021 and anticipates receiving the remaining balance by June 2022. At their December 6, 2021 meeting, the La Verne City Council made the decision to use those ARPA funds to assist business along with the pursuit of other initiatives and programs to address various community needs and priorities.

This press release was produced by La Verne Chamber of Commerce. The views expressed here are the author’s own.