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Altadena Disaster Relief Small Business Loan Program Expired
Description
The Altadena Disaster Relief Small Business Loan Program was created in response to Federal Declaration on January 7, 2025. These loans aim to provide working capital to businesses that create or retain jobs and offer goods or services to local residents. Applications will be processed on a first-come, first-served basis.
Requirements
- “Business must be open to the public at the time of application submittal.”
- “Business must occupy a physical storefront location within an unincorporated area of zip codes 91001 and 91104.”
- “Applicant must have been in operation for a minimum of six months at time of application.”
- “Only one application per legal entity will be accepted.”
- “Uniform Commercial Code (UCC-1) Filing: Required for all loans.”
- “Hard pull credit report required.”
- “Minimum FICO score of 620.”
- “Applicant must provide 2023 Business Tax Returns, 2024 Financial Statements (balance sheet and income statements), Interim financial statements for Quarter 1 – 2025, and financial feasibility of the applicant and principal owner(s) repaying the loan.”
- “Business must have an “active” status with the Secretary of State.”
- “Applicant must show that business was impacted by the disaster through a hardship statement, provide explanation of what has been done to address the impacts of the disaster on the business, and describe how the loan funds address the disaster impact.”
Eligibility
- Zipcodes
- 91001, 91104
- Industry
- restaurants, coffee shops, bakeries, cafés, gastropubs, salons, barbers, grooming businesses, gyms, day spas, fitness studios, retail stores, commercial stores