City of Los Angeles JEDI Zone Microloan Program
The JEDI Zone Microloan Program, in partnership with Los Angeles Development Fund (LADF) and Pacific Asian Consortium in Employment (PACE), is designed to provide financing to viable Microenterprises and small businesses that private lenders typically cannot accommodate. Loan funds can be used for reasonable and eligible business operation costs, including, but not limited to, inventory, equipment, working capital and leaseholder improvements.
The Jobs and Economic Development Incentive (JEDI) Zones offer economic development incentives for underserved areas that experience persistent unemployment and underemployment, low to moderate household income and neighborhood instability. The core goal of JEDI Zones is to gradually create economic equity by promoting and expanding local businesses, increasing employment opportunities and fostering more financially secure communities.
The Jobs and Economic Development Incentive (JEDI) Zones offer economic development incentives for underserved areas that experience persistent unemployment and underemployment, low to moderate household income and neighborhood instability. The core goal of JEDI Zones is to gradually create economic equity by promoting and expanding local businesses, increasing employment opportunities and fostering more financially secure communities.
Program Advantages
- Minimal Closing Fee Applies
- Reduced Interest Rate
Eligibility
- Business must be located within an approved JEDI Zone in the City of Los Angeles (use the City's ZIMAS web-based GIS tool to determine your business location)
- Annual revenue must not exceed $3 million, depending on your business NAICS code, and have no more than 25 employees
- Business must not be in a residential property; home-based businesses and PO Box address businesses are ineligible
- Business must have an active Business Tax Registration Certificate (BTRC) filed with the Los Angeles Office of Finance
Loan Terms
- Loan Amounts: $10,000 to $50,000
- Loan Terms: 5 years
- Payments: No payments required in Year 1. Fully amortizing payments required in Years 2 through 5, with interest accruing from the date of the loan and added to the principal.
Apply
If you are interested in applying to the JEDI Zone Microloan Program, please email This email address is being protected from spambots. You need JavaScript enabled to view it. to better assist you. A JEDI Zone Program Manager can provide more information and guide businesses in the preparation of applications.
Funds for this program will remain open until funding is exhausted. Apply soon to be considered.
Funds for this program will remain open until funding is exhausted. Apply soon to be considered.
Contact
For questions and inquiries, please email This email address is being protected from spambots. You need JavaScript enabled to view it. .
