Wednesday, September 3, 2025

$1 Million Grant Program Targets Fire-Hit Small Businesses

Initiative offers up to $50,000 per business in Altadena, Malibu and Palisades areas

Small businesses devastated by the Eaton and Palisades fires can now apply for emergency grants through a $1 million relief program launched by Steadfast LA and Banc of California.

The initiative provides direct grants up to $50,000 per business to help owners rebuild damaged property, reopen their doors and cover fire-related expenses. Program organizers say the funding is designed to be flexible, acknowledging that each business faces different recovery challenges.

LiftFund, a nonprofit Community Development Financial Institution with three decades of disaster relief experience, will administer the grants. In its company profile, the organization says it specializes in providing financial assistance to small businesses during emergencies.

Business owners must meet strict eligibility requirements to qualify. A statement by Steadfast LA said companies must have been operating before Oct. 1, 2024, with documented sales revenue shown in business bank statements. Applicants without business bank accounts cannot participate.

The program targets businesses located in the Palisades, Malibu or Altadena areas. Applicants must live in Los Angeles County or neighboring counties and own fewer than three similar businesses.

Several business types are excluded from the program, the statement said. Adult entertainment operations, liquor stores, vape shops, smoke shops and lending organizations cannot apply.

Additional requirements limit participation to majority or equal-share business owners with no more than 100 full-time employees. Annual gross sales cannot exceed $6 million, and businesses must operate from commercial storefronts rather than online-only platforms.

Each applicant can receive only one grant award, regardless of how many businesses they own or control. All approved recipients must participate in video interviews with LiftFund staff before receiving funds.

Applicants must be legal residents with valid Social Security numbers or Individual Taxpayer Identification Numbers. They must also agree to share their names and participate in on-camera interviews as part of the program.

The program requires businesses to currently operate in or demonstrate plans to reopen within the affected fire zones. Out-of-state applicants will not be considered.

Rick Caruso founded Steadfast LA as a civic nonprofit focused on helping Los Angeles rebuild after disasters. The organization said it aims to reduce bureaucratic obstacles while bringing together private sector expertise and resources.

To submit applications, visit https://www.liftfund.com/la-small-business-initiative/.  Program criteria may change without notice, according to organizers.

To learn more about Steadfast LA, visit https://www.steadfastla.com/.