Updated EDA Revolving Loan Program Administrative Plan
Long Beach
Summary
The city's small-business loan fund got its first full update since 2015. Borrowers now need 20% equity instead of 10%, nonprofits under city contract can qualify, and pandemic-era emergency loans return as 'resiliency loans.' Staff say the higher equity requirement keeps borrowers vested in repaying.
At a glance
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Last discussed Aug 5, 2026.
Impact analysis
The fund makes loans up to $100,000 to small businesses, with larger requests steered to the city's $14 million Grow America fund.
Small businesses and, for the first time, nonprofits under city contract seeking financing.
Borrowers who cannot meet the higher 20% equity requirement may face a tougher path to a loan.
Mentions & discussions (1)
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