small business borrowers

Minority owned businesses in LA to receive financial boost

Los Angeles has the largest small business economy in the U.S., with over 250,000 small businesses.

However, there’s a shortage of capital available for these small businesses, and entrepreneurs of color are disproportionately affected.

Earlier this month, the Entrepreneurs of Color Fund (EOCF) program was launched in Los Angeles to address this shortage. With $2.65 million in funding to support historically disadvantaged small business owners in Los Angeles, the fund is designed to help increase the availability of capital and business resources to strengthen small businesses owned by underserved entrepreneurs.