Steadfast LA and Banc of California Distribute First Small Business Recovery Grants in Altadena

First grants total of $125,000, providing key support to these small businesses in wake of Eaton Fire

Steadfast LA, in partnership with Banc of California, has distributed the first small business recovery grants through the Small Business Initiative, providing a collective total of $125,000 to three cornerstone Altadena businesses: Webster’s Community Pharmacy, which will celebrate its 100th anniversary of serving Altadena next year, Fair Oaks Burger and Altadena Cookie Co.

These small businesses will use the grants to recover from fire-related damages they have incurred and to remain in Altadena, making clear to families and residents that the community is rebuilding and there’s a bright future ahead.

Fair Oaks Burger

Rick Caruso, founder and chairman of Steadfast LA, and Jared Wolff, chairman and CEO of Banc of California, visited each business to meet the owners, hear their stories and distribute the grants. Video from these visits – featuring these business owners outlining their challenges since January and how these grants will enable them to support the community – is available now on Steadfast LA’s social media channels. In the coming days, Steadfast LA will share more about these small businesses, their experiences following the fires and how these resources will allow them to support the Altadena community as it rebuilds.

“Meeting with and hearing stories from the Millers at Webster’s Pharmacy, the Lees at Fair Oaks Burger, and Jessica and Michelle with Altadena Cookie Co. was moving and underscored how ingrained they all are in the community,” said Caruso. “I’m really proud that, through this initiative, they’ll have the resources to overcome the adversity they’ve faced since the fires and get back to doing what they do best: serving their customers and remaining part of the fabric of Altadena.”

Altadena Cookie Co.

“As the largest independent bank based in Los Angeles, Banc of California takes pride in supporting small businesses that define the character and vitality of our communities,” said Wolff. “Seeing firsthand the strength and spirit these small-business owners bring to Altadena was inspiring, and they are exactly who our initiative was designed to help. We look forward to distributing more grants and helping more small businesses recover.”

Launched last month, Steadfast LA’s Small Business Initiative provides direct grants of up to $50,000 to small businesses in wildfire-impacted communities across Altadena, Malibu, Pasadena and the Pacific Palisades, to help them reopen their doors or support their operations. Over 500 small businesses have submitted applications for grants through this initiative to date, and future grants will be distributed to small businesses in the Palisades and Malibu in the coming days. Banc of California donated the initial $1 million to fund this initiative from its Wildfire Relief & Recovery Fund, and Steadfast LA continues to provide added support and solicit further donations.

To learn more about this initiative or the small businesses it has supported, visit SteadfastLA.com or Steadfast LA’s social media channels on X and Instagram.

Information sourced from Banc of California, Inc. to learn more, contact Deb.Vrana@bancofcal.com.