June 15, 2024 Breaking News, Latest News, and Videos

$390,000 Distributed to Santa Monica Small Businesses

78 Santa Monica small businesses received $5,000 grants

By Staff Writer

This month, 78 Santa Monica small businesses received $5,000 grants from community members, business leaders and nonprofits that donated to the City’s “We Are Santa Monica” fund and the Santa Monica Chamber of Commerce Foundation.  

“This has been such an unprecedented and challenging 18 months for our businesses,” said Jennifer Taylor, the City of Santa Monica’s Economic Development Manager. “We know many business owners are still struggling with outstanding bills and expenses, and we hope these grants can provide extra support to our small business community.”

According to the City, 475 local businesses applied, and 78 grantees were chosen through an online, randomized application system.

“As cities plan and begin to implement their COVID-19 economic recovery strategies, it is imperative that they do it equitably to ensure that small businesses owned and led by women and people of color aren’t left behind – and the City of Santa Monica is doing just that,” said Tunua Thrash-Ntuk, Executive Director of LISC LA. “LISC LA is proud to be able to partner with the City of Santa Monica on these recovery efforts, and we hope that with additional funding, we can continue to help the city rebuild and distribute this economic relief across the city.”

The SaMo Small Business Recovery Grant Program was created to support brick-and-mortar businesses based in Santa Monica with annual revenues below $2 million. Applicants and grantees were located across the City, and program funds were distributed and managed by Local Initiatives Support Corporation Los Angeles (LISC LA) on the City’s behalf. A wide variety of businesses received a SaMo Small Business Recovery Grant, with funding distributed across all neighborhoods to a range of industries. 

According to the City, of the 78 businesses that received a grant:

·         50% are minority-owned or led by people of color

·         51% are from Low- or Moderate-Income (LMI) Census tracts

·         50% are women-owned or led

·         44% of grantees reported annual revenues below $250,000

·         76% of funding went to services or retail industries

·         36% of grantees are located in the zip code 90405

“We are proud to support our small business community and thank our generous donors to the Santa Monica Chamber Foundation and We Are Santa Monica Fund for their contribution to such a tangible relief effort,” says Laurel Rosen, President/CEO of the Santa Monica Chamber of Commerce.
Santa Monica businesses interested in additional grant programs are urged to apply for the newly announced $1.5 billion in state funding as part of the California Small Business COVID-19 Relief Grant Program. State grants ranging from $5,000 to $25,000 are available for eligible small businesses and nonprofit organizations. Businesses must apply through the State’s funding portal for this entirely separate grant opportunity. For more information and to apply by September 30, visit www.CAReliefGrant.com

Related Posts

Marina del Rey Sportfishing: A Great Day on the Water

June 14, 2024

June 14, 2024

Fishing is a pastime like no other. You can experience the nostalgia of that pastime in real time at Marina...

Fatal Altercation Outside Santa Monica Pub Leads to Homicide Charge

June 14, 2024

June 14, 2024

Venice Resident Charged in Death of Jameson’s Pub Manager A man has been charged with homicide following a fatal altercation...

Film Reviews: Bad Boys: Ride or Die

June 13, 2024

June 13, 2024

FILM REVIEWBad Boys: Ride or DieRated R115 MinutesReleased June 7th Bad Boys: Ride or Die is the fourth installment in...

Cypress Equity Investments Acquires Santa Monica Retail Center for $7M

June 13, 2024

June 13, 2024

The Retail Center Was Sold for 274% Above the Santa Monica Market Average Cypress Equity Investments has acquired a prime...

Juneteenth Art Exhibition Set for Abbot Kinney Boulevard

June 13, 2024

June 13, 2024

The Event Features Works by Twelve Prominent Black Artists From Los Angeles An art exhibition titled “FREEDOM” will open at...

Santa Monica Chamber Announces Prestigious Toast of Santa Monica Event

June 12, 2024

June 12, 2024

Event to Showcase Business Excellence and Community Spirit The Santa Monica Chamber of Commerce is gearing up for its highly...

Former HR Chief of Santa Monica Accuses City of Racial Discrimination

June 12, 2024

June 12, 2024

She Was Selected in 2018 as the First African American to Hold That Position Within City Leadership, According to the...

Las Vegas Man Convicted in 2016 Santa Monica Home Invasion Case

June 12, 2024

June 12, 2024

With the Help of DNA Evidence, the Case’s Investigation Was Able to Link the Home Invasion With a String of...

Hang-Ten Therapeutics-Surf Therapy for Kids: Catching Waves and Finding your Calm

June 12, 2024

June 12, 2024

A different type of therapy is making waves in Los Angeles. Hang-Ten Therapeutics, founded by Naomi Matanick, a licensed pediatric...

Venice Canal Attack Suspect Appears in Court

June 12, 2024

June 12, 2024

He faces a lifetime prison sentence without the possibility of parole By Zach Armstrong The man who allegedly raped and...

(Video) The Opening of Pico Roots Marketplace in Santa Monica

June 12, 2024

June 12, 2024

Lots of friendly vendors with wonderful gifts, cards, clothing, decor, and coffee beans available at 1819 Pico Boulevard. @smmirrornews The...

Tien Pham Connects Personal History with Role in Robert Downey Jr.’s “The Sympathizer”

June 11, 2024

June 11, 2024

Family’s Harrowing Escape From Vietnam Mirrors the Acclaimed HBO Max Series Vietnamese American actor-musician-producer Tien Pham finds a deep connection...

Jinky’s Cafe is Returning to Santa Monica

June 11, 2024

June 11, 2024

The Development Comes After Months After the Franchise Closed Its Previous Santa Monica Storefront By Zach Armstrong Several months after...

Three Taken Into Custody After Assault Incident Closes Portion of Main Street

June 11, 2024

June 11, 2024

A Male Victim Was Transported to a Local Hospital for Treatment By Zach Armstrong Three suspects were taken into custody...

Shutters on the Beach Brings Beachside Spring Celebrations 

June 11, 2024

June 11, 2024

As spring unfurls with super blooms and sunsets after 7pm along the California coast, Shutters on the Beach emerges as the most...