Fairfax Project Helps With Loans
The Vitalize Fairfax project is offering local businesses help in putting together low-cost loans to fix up their buildings, to buy new equipment and to use as working capital.
The assistance is available to businesses north of Wilshire Boulevard, south of the West Hollywood city line and between La Cienega Boulevard and La Brea Avenue.
The program offers help in obtaining city, state and federal loans. One such program provided by the city allows for loans of up to $40,000 at 6% interest, the agency’s Gale Trachtenberg said.
The program also helps obtain bank loans, because government lenders generally require matching loans from the private sector. About 20% of the 1,000 businesses in the area are making use of the service. The project is sponsored by Councilman Zev Yaroslavsky.
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