City of Los Angeles Microloan Program
There are two options on interest rates:
- Option 1 – 0% for a term of 6 months to 1 year or
- Option 2 – 3% to 5% for a term of up to 5 years.
This program provides the financing needed to viable microenterprises and small businesses hit by COVID-19. The loans can be used for working capital only.