After the Riots / NEWS IN BRIEF : Archdiocese Fund Provides Help for New Businesses : REBUILDING

The Roman Catholic Archdiocese of Los Angeles has established a $500,000 fund to help minority and low-income residents start their own businesses, particularly in areas affected by the recent riots.

The economic development project, in the works for nine months but accelerated by the urban unrest, will establish a revolving loan fund to help finance minority-owned small businesses. It also will provide technical assistance to minority and low-income Los Angeles residents who want to start businesses.

The effort is part of the Catholic church’s “Campaign for Human Development,” which was established more than 20 years ago to fund projects run by and for organized groups of poor and low-income people.

“We intend to work in close collaboration with Rebuild L.A. to avoid a duplication of efforts and to maximize the resources available to make a significant impact,” said Cardinal Roger M. Mahony, Los Angeles archbishop. In addition to the $500,000 that the church is committing to the project, other grants and financial contributions will increase the pool of available funds to $1 million over the next five years.