The program offers forgivable financing to small businesses, nonprofit organizations and developers seeking to acquire commercial buildings. Officials say the goal is to promote local ownership of storefronts.
Los Angeles County officials announced a new round of funding aimed at helping small businesses and community groups purchase commercial properties, part of a broader effort to stabilize neighborhood business districts and reduce displacement.
The Los Angeles County Department of Economic Opportunity and Genesis LA Economic Growth Corporation said the second cycle of the Commercial Acquisition Fund will make about $2.6 million available for qualifying projects across the county.
The program offers forgivable financing to small businesses, nonprofit organizations and developers seeking to acquire commercial buildings. Officials say the goal is to promote local ownership of storefronts and community-serving spaces, particularly in areas facing rising rents and economic pressure.
Applications for the new funding cycle are expected to open May 5.
County officials said the initiative builds on an earlier round that distributed $10 million in federal pandemic relief funds. That first phase supported seven property acquisitions, creating space for dozens of small businesses and nonprofit groups while bringing vacant or underused properties back into use.
The latest funding round includes $1 million earmarked for projects in the Second Supervisorial District, represented by Holly J. Mitchell.
Officials said demand for the program is expected to exceed available funds, reflecting ongoing challenges for small businesses and commercial tenants across Los Angeles County. Rising costs and redevelopment pressures have made it difficult for locally owned businesses to remain in place, particularly in historically underserved neighborhoods.
