The Community Development Commission/Housing Authority of the County of Los Angeles (CDC/HACoLA) celebrated Small Business Week, reaffirming its commitment to the growth and success of local businesses with its SMART Funding business loan program.
Since its launch last Fall, SMART Funding has provided loans to four local small businesses totaling $775,000. The loan recipients include Ed Technology Funds, a technology-based company; Angeleno Wine Company, a Los Angeles-based wine production company; Teamwork Sales, a wholesale retail distributor; and Hong Kong Bakery, a family-owned deli and bakery.
“SMART Funding is a valuable resource available to small businesses that want to expand,” said Monique King-Viehland, Executive Director of the CDC/HACoLA. “With assistance from our skilled loan officers, small businesses can access capital that might not otherwise be available.”
SMART Funding offers a variety of competitive loan programs created to assist small- and medium-sized businesses and promote business growth and expansion. “We wouldn’t have been able to grow if it wasn’t for the CDC/HACoLA and their interest in supporting small businesses in Los Angeles,” said Amy Luftig Viste, co-owner of Angeleno Wine Company. The loan provided the necessary funds to open a new facility in Los Angeles and hire two new employees. Learn more about how SMART Funding helped Angeleno Wine Company here.
Loans under SMART Funding are available to businesses across various industries including manufacturing, medical, restaurant, and professional services. Loan amounts can range from $25,000 to $1.5 million with flexible loan terms.
Businesses within Los Angeles County are encouraged to contact CDC/HACoLA to discuss the loan programs offered under SMART Funding. For additional information please visit smartfunding.biz, or call (626) 586-1856.