LA County Board

29. Protecting Small Businesses and Strengthening Economic Resiliency in Los Angeles County Recommendation as submitted by Supervisor Solis: Instruct the Director of Economic Opportunity, in consultation with the Director of Consumer and Business Affairs, and all other applicable Departments, to: Propose a framework, implementation plan, and necessary resources as requested in the Department of Economic Opportunity’s (DEO’s) Fiscal Year 2026-27 departmental budget request to the Chief Executive Office to establish and operate a permanent business interruption fund or grant program, to be operated under DEO’s Office of Resiliency, focused on providing funds to small businesses impacted by economic disasters. In the report back from the March 3, 2026 Board approved motion on the Economic Development Trust Funds, include in the report a framework, implementation plan, and necessary resources to establish, as part of the single-point-of-entry Economic Development Trust Fund, a flexible, low-interest loan program for small businesses that will be heavily promoted to the most impacted communities such as but not limited to, those identified in the final Economic Impact Report and geared towards disaster recovery. Ensure both the grant and loan programs are paired with culturally competent, multilingual technical assistance designed to: Offer small business assistance with loan application packaging for public and private loan programs Increase financial literacy and small business readiness for accessing capital Conduct an evaluation of eligibility requirements across County-supported disaster funding programs to identify opportunities to: Establish baseline standardization where appropriate Reduce unnecessary barriers to entry Promote accessibility for all businesses, including microbusinesses, immigrant-owned businesses, and those operating in the informal or cash-based economy. Propose a definition for economic disaster for both sub-directives above, which will be minimally defined as: Fires, earthquakes, floods, windstorms, rain, and other natural disasters Immigration enforcement activity, health emergencies, civil unrest, road closures, strikes and other major economic disruptions. Review existing State-supported capital access programs including, but not limited to, the California Infrastructure and Economic Development Bank (IBank) loan guarantee programs, to: Assess alignment with disaster-impacted small business needs, Evaluate current eligibility criteria and utilization, Identify gaps in serving businesses impacted by the proposed changes to the Small Business Administration (SBA) eligibility requirements, and Further develop advocacy recommendations in partnership with relevant stakeholders to expand IBank program capacity and improve accessibility for disaster-impacted businesses. Instruct the Director of Economic Opportunity, in consultation with the Executive Director of the Office of Immigrant Affairs, Acting Chief Executive Officer, through the Legislative Affairs and Intergovernmental Relations Branch, and all other applicable County Departments and partners, to: Build on education and outreach activities, establish a standing community convening that will meet virtually on a regular frequency to build relationships with small businesses and business serving organizations countywide to at minimum: Deliver regular communication about changing legislation that impacts small businesses, Feature resources to help small businesses, Provide multi-lingual participation and real-time opportunities to sign up for individual assistance, Encourage enrollment in available programs, services, and resources, such as the “Shop Local” business registry, Identify opportunities to partner and amplify with the Small Business Commission and County Workforce Development Board and community leadership, and Regularly evaluate the council to encourage growth and two-way communication with community, particularly in the development and delivery of small business-related programs. Identify One-Stop or other facilities countywide where the Director of Economic Opportunity already has a presence, such as the East Los Angeles Entrepreneur Center located at Maravilla Center, where a rotating calendar of community-based organizations offering a range of services beneficial to small businesses can be implemented, and provide a plan to implement in those sites. Instruct the Director of Economic Opportunity, in consultation with the Director of Arts and Culture, to explore the feasibility of a program partnering with local visual artists, under which consumers who shop at participating small businesses in unincorporated areas may receive prints of existing artworks as an incentive. Instruct the Director of Economic Opportunity to report back to the Board in writing within 90 days. (26-1594) Motion by Supervisor Solis (Updates Following Cluster)