4 State Offices in Riot-Stricken Areas to Help Businesses Get Aid
Four state offices are opening in riot-ravaged areas of the city to help business owners apply for federal Small Business Administration loans and other financial aid.
A permanent Small Business Development Center will open this week in Torrance and three temporary Small Business Outreach Centers will open in Compton, Southwest Los Angeles and Koreatown.
In addition, affected business owners can call a toll-free number for referrals or to sign up for workshops on how to apply for aid. The number is (800) 281-2007.
The outreach centers will hold workshops over the next two weeks to help business owners complete applications for SBA loans and state loan guarantees. Aug. 15 is the deadline for submitting SBA loan applications.
“The new centers will provide one-on-one business counseling at no charge (and) assistance in recreating financial statements and documents needed to apply” for the various loan programs, said state Commissioner of Corporations Thomas Sayles, who was appointed by Gov. Pete Wilson to head the state’s efforts to revitalize Los Angeles.
The programs were developed by the state Department of Commerce, the community college system and the governor’s Los Angeles Revitalization Committee.
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