LOS ANGELES, CALIFORNIA / ACCESS Newswire / May 7, 2025 / In the wake of the devastating Eaton and Palisades wildfires, the Los Angeles Area Chamber of Commerce (the Chamber) today announced the launch of its Small Business Recovery Fund, a bold initiative to support small businesses impacted by the recent disasters. This fund marks a critical step in the region's recovery efforts and underscores the Chamber's role as the voice of business in Los Angeles and the engine of community renewal.
"Los Angeles is resilient," said Maria S. Salinas, President and CEO of the Los Angeles Area Chamber of Commerce. "In the face of devastation, we do not retreat-we rebuild. The Chamber is proud to lead this effort, uniting the public and private sectors to channel funding, technical expertise, and partnerships into not just restoring what was lost, but shaping what's next."
The Chamber's Small Business Recovery Fund will provide vital financial relief and technical support to small business owners as they work to reopen, rehire, and reinvest in their communities. The Chamber is mobilizing an unprecedented coalition of partners-from civic leaders to major corporations-to ensure resources are deployed efficiently and equitably across the most affected neighborhoods. The fund has received generous initial donations from Bank of America, Chevron, and other major companies who recognize the important role small businesses play in Los Angeles's economy.
The economic toll of the Eaton and Palisades wildfires on Los Angeles County's small business community is staggering. In total, according to a recent study by the Los Angeles Economic Development Corporation (LAECD), 1,863 businesses were located within the fire perimeters-60% in the vicinity of the Palisades Fire and 40% near the Eaton Fire-employing an estimated 9,610 workers and generating $1.4 billion in annual sales. A Pepperdine School of Public Policy and Beacon Economics report found that the Palisades Fire alone impacted 1,407 businesses supporting nearly 13,000 jobs. Projections noted in the LAECD report estimate that the combined disruption from both fires will result in $4.6 billion to $8.9 billion in lost economic output over the next five years, along with up to $3.7 billion in labor income reductions-an economic shock that demands bold, coordinated recovery action.
From emergency capital to long-term resilience strategies, the initiative embodies the Chamber's commitment to action at a moment when local businesses need it most. By stepping forward now, the Los Angeles Area Chamber of Commerce is once again demonstrating its capacity to lead during times of crisis and to lay the groundwork for a stronger economic future.
Grant awards are available in amounts of $10,000, $15,000 and $25,000 - depending on applicants' gross annual income. Eligible businesses must be located in the affected areas and serve a clientele with more than 50% of customers located in impacted areas. The Chamber has partnered with Lendistry, a Los Angeles-based small business lender, to administer grants and provide capital solutions for recovery loans.
"Lendistry is proud to work with the Los Angeles Area Chamber of Commerce Foundation to help our hometown recover from the devastating wildfires," said Everett K. Sands, CEO of Lendistry. "L.A.'s small businesses are the heart of the city, and we're inspired by their resilience and dedication. We're committed to helping the Chamber Foundation provide impacted businesses with the relief they need to continue serving their communities."
"From the start, our priority was to design a recovery fund that delivers real, lasting impact-not just short-term relief," said Maria S. Salinas, President and CEO of the Los Angeles Area Chamber of Commerce. "We carefully considered how to get funding to the small businesses that need it most, while also laying the groundwork for long-term recovery and resilience. The Chamber is proud to partner with Lendistry to help these businesses rebuild-and we're committed to standing with them every step of the way."
The grant application opened today and will be reviewed on a first-come, first-served basis. The application window is currently scheduled to remain open through June 6, 2025, subject to available funds.
To apply for a Small Business Recovery Fund grant or to contribute, visit LAChamberRecoveryFund.com.
About Los Angeles Area Chamber of Commerce Foundation
The Los Angeles Area Chamber of Commerce Foundation was established in 1970 to carry out the charitable objectives of the L.A. Area Chamber. As the voice of business in region for more than 137 years, the Chamber's mission is to design and advance opportunities and solutions for a thriving regional economy that is inclusive and globally competitive. The Chamber Foundation focuses on furthering those efforts by building partnerships that improve the welfare for the citizens of Southern California.
About Lendistry
Lendistry (lendistry.com) is a tech-enabled small businesses lender, grant administrator for private and public agencies, and a trusted resource for undercapitalized entrepreneurs including people of color, veterans, and those in rural communities. Founded in 2015, Lendistry has used technology and community partnerships to deploy over $10 billion in its first ten years. Lendistry was recently honored with the Los Angeles Area Chamber of Commerce Corporate Leadership Award and BankRate's Best Minority-Led Business Lender. Lendistry has both Community Development Financial Institution (CDFI) and Community Development Entity (CDE) certifications, is an SBA Preferred Lender and is now the #2 non-bank SBA 7(a) lender in the country. In collaboration with The Center by Lendistry, a nonprofit business education organization, Lendistry helps business owners achieve their goals and prepare to scale.
Contact Information
Kate Kearns
Sr. Communications Manager
communications@lendistry.com
SOURCE: Lendistry
View the original press release on ACCESS Newswire
