Small Business Loan Program

EWDD designed the Small Business Loan Program in order to provide financing to viable small businesses that private lenders cannot accommodate. Whether, your business is a Start-Up or an existing business that would like to expand, 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 ultimate goal of the Small Business Loan Program is job creation and the borrower is required to create jobs in the City of Los Angeles.
  • Annual revenue must not exceed $10 million and have no more than 500 employees
    (depending on business NAICS code)
  • Must create one permanent full-time equivalent job for every $35,000 in financial assistance received from the City
    (the required number of jobs is rounded up)
  • Out of the total jobs created, 51% must be fulfilled or made available to low and moderate-income persons
  • Business must be located in the City of Los Angeles. Please use the City of Los Angeles, Department of City Planning online zoning tool to determine if your commercial location is located within LA City’s boundaries
    (business location must not be a Residential Property)
  • Applicant must show evidence of not being able to obtain financing elsewhere
    (loan declination letter from a bank(s), etc.)


  • Business Plan
  • Breakdown of Sources and Uses (budget)
  • Projections (3-5 years)
  • Business Tax Registration Certificate
  • Commercial Lease Agreement
  • Commercial Liability Insurance
  • Workers Comp Insurance (if applicable)
  • Personal Financial Statement
  • Personal Income Tax Returns (2 years)
  • Business Tax Returns (1-2 years)
  • Business Financial Statements (FYE & Interim)
  • Resumes


  • Loan Limits: $50,000 to $500,000
  • Term/Amortization: 3-10 Years
  • Interest Rate: 5.5%, fixed for 12 months then adjusts to 2.5% +10yr US t-note rate
  • Program Parameters: EWDD operates as a direct lender utilizing CDBG funds from HUD. This program is available to businesses that do not qualify for bank financing. On a best efforts basis, each loan is supported with collateral which may include business assets such as cash, accounts receivable, inventory, equipment, intellectual property and/or real property. Personal Guaranty from owner(s) is required.
  • Minimum Owner’s Capital Injection: 10%
  • Business Revenue Limits: Up to $10,000,000.00*
  • Maximum Number of Employees on Payroll: 500 Employees*
  • Job Creation: Required
  • Loan Fee: 2.6%
  • Application Fee: $250.00, non-refundable

Applications are available upon request. For more information, please contact Alex Lakshtanov, EWDD Industrial and Commercial Finance Officer, at 213-744-9368 or [email protected].