Business Interruption Fund: Entertainment Industry (BIF)

Business Interruption Fund: Entertainment Industry (BIF) is sponsored by Los Angeles County Department of Economic Opportunity (DEO). The Entertainment Business Interruption Fund (BIF), funded by the American Rescue Plan (ARP), is designed to support qualified small businesses that serve the Entertainment Industry in Los Angeles County.

Business Interruption Fund: Entertainment Industry is here to assist small businesses in the entertainment industry who were impacted by COVID-19 pandemic and the double Hollywood Strikes. Business Interruption Fund Thank you for applying to LA County's Business Interruption Fund. The Program is now closed.

You can check the status of your application by signing into Lendistry's Portal. To access additional resources that may assist your business, please visit: Hollywood's Double Strike - Department of Economic Resources PLEASE NOTE: On May 30th, 2024 the Eligibility requirements for this program were updated.

Program and Application Guide Program and Application Guide The Entertainment Business Interruption Fund (BIF), funded by the American Rescue Plan (ARP), is designed to support qualified small businesses that serve the Entertainment Industry in Los Angeles County (County).

For the purpose of this Program, a “qualified small business” means a business that meets all of the following criteria, as confirmed by the office or fiscal agent through review of revenue declines, other relief funds received, credit history, tax returns, payroll records, and bank account validation: Must be a for-profit business with $3 million or less in annual gross revenue as reflected in Applicant’s most recently filed, federal business tax return.

The BIF will only fund grantees in the highest, high, and moderate tiers based on the COVID-19 Vulnerability and Recovery Index, with 1/3 of total grant funds awarded to each tier; awardees will be chosen via random selection within each tier. Use the Equity Explorer Mapping Tool to identify which tier your business is in. Must have experienced at least a 70% loss of revenue due to the COVID-19 Pandemic from March 3, 2021 to present .

Removed: "as well as the 2023 double Hollywood Strikes between May 1, 2023 – November 30, 2023." Negative economic impacts from COVID-19 Pandemic March 3, 2021 to present . Removed: "as well as the 2023 double Hollywood Strikes between May 1, 2023 – November 30, 2023."

The business must be both physcially located, and currently operating, in LA County during the period for which the business is claiming the economic impact of COVID-19. Added: "' during the period for which the business is claiming the economic impact of COVID-19." At least 70% of revenue must come from the Entertainment Industry sector.

Loss must be equal to or greater than grant amount requested. Business must have been registered to do business legally in the state of California and/or any other applicable jurisdiction prior to December 30, 2021, or other similar business filings. Active business currently in operation that is in good standing with all local, state, and federal taxing and licensing authorities.

The business has not received any American Rescue Plan grants from any state, local, or federal sources or from another jurisdiction, for the same use and period which is being claimed in their application for this Program. Application must be submitted by a majority owner that is at least 18 years of age as of the date of application.

The BIF is targeted to entertainment related small and micro businesses that are located in the highest, high, and/or moderate impact areas (tiers) on the COVID-19 Vulnerability and Recovery Index, using the Equity Explorer Mapping Tool . Click on the link to identify which tier your business is in and to see if you are eligible.

The Tool uses the COVID-19 Vulnerability and Recovery Index to identify and visually sort County, cities, and communities into five need tiers ranging from highest to lowest need based on COVID-19-related risk, severity, and recovery need. Using this information, the County will target BIF funding toward communities with the greatest need only in the top three Tiers.

If your business is in the low or lowest tier, you are not eligible for funding. In July 2020, the Los Angeles Board of Supervisors created the Anti-Racism, Diversity, & Inclusion (ARDI) Initiative to prioritize the County’s ongoing commitment to fighting racism and inequity in all its dimensions.

As such, the ARDI team created the Equity Explorer Mapping Tool which allows users to identify high need areas throughout Los Angeles County disproportionately impacted by the COVID-19 pandemic and inequity. In order to qualify for this Program, businesses must not be any of the following: 1. Nonprofit organizations.

2. Religious or Churches. 3.

Government offices or agencies. 4. Publicly traded companies.

5. Corporate-owned franchises. 6.

Financial institutions, such as banks, lenders, pay day lenders, auto title lenders, check cashers, other businesses whose stock in trade is money and mortgages, and other similar entities. 7. Insurance companies, such as life, auto, home, bail bond, and other similar entities.

8. Private or social clubs. 10.

Astrology, Palm Reading. 11. Liquor stores, night clubs.

12. Lobbying firms or businesses who dedicate 50% or more of their time or resources to lobbying activities. 13.

Businesses that engage in gambling activities, such as Bingo parlors, casinos. 14. Adult bookstores and businesses that present live performances of a sexual nature.

15. Businesses that generate income through activities performed in violation of state or federal law, including the sale, cultivation, or transportation of marijuana. 16.

Businesses that exist for the purpose of advancing partisan political activities. 17. Gun or ammunition stores.

18. Businesses or organizations which are, or whose owners, officers, partners, directors, and/or principals are, currently suspended, disbarred, ineligible, or excluded from participation in federal, State, or County assistance programs or from receiving federal or State financial or nonfinancial assistance and/or benefits. Grant amounts are based on business revenue as shown on the most recently filed federal business tax return.

Revenue Size: $1,000,000 - 3,000,000 Eligible Grant Size: $25,000 Revenue Size: equal or less than $999,999 Eligible Grant Size: $10,000 The following documents are required to apply for this Program. You must upload them during the application process in Lendistry’s Portal. 1.

Applicant Certifications: Applicant Certification Download 2. Most recently filed, complete, unaltered federal business tax return (IRS Form 1120, IRS Form 1065, or IRS Form 1040 Schedule C) 3.

Official filing with the California Secretary of State (which must be active) or local municipality , as applicable, for your business or organization, such as one of the following: Articles of Incorporation; Certificate of Organization; Fictitious Business Name filing; Government-issued business license or permit. 4. Proof of location via utility bill or similar third-party document, as applicable 5.

Acceptable government-issued photo ID uploaded via Persona, which will be embedded in the application This list is not exhaustive. Lendistry may contact you by email, phone, and/or text (if authorized) to request additional documentation to verify the information you submitted in your application. 1.

The purchase of new certified equipment. 2. Restock of liquidated inventory.

3. Lease, rent, or mortgage payments. 4.

Payment of business debt accrued due to the COVID-19 pandemic. Removed: "and the 2023 double Hollywood Strikes." 5.

Costs resulting from the COVID-19 pandemic and related health and safety restrictions, or business interruptions or closures incurred because of the COVID-19 pandemic. Removed: ' " and the 2023 double Hollywood Strikes." 6.

Employee payroll expenses. 7. Working capital to continue operations.

8. Payment of outstanding business expenses (supplier management, etc.) 9. Grant awards may not be used by awardee for regranting or for any uses or expenses that the awardee has been, or will be, reimbursed for under any federal program.

Program and Application Guide The Program and Application Guide includes an overview of the Program, tips for applying, and step-by-step instructions on how to complete and submit the application. To help you understand the Program, Lendistry and SBDC are hosting a series of webinar sessions where our representatives will walk you through the guidelines and do a live demo of the application process!

In these sessions, Lendistry and SBDC will discuss: • Updated eligibility requirements and required documentation. • How to navigate Lendistry’s Portal. • How to successfully complete and submit an application.

Register for an informational webinar Important Information for Existing Applicants: Please do not reapply if you submitted an application prior to May 24, 2024. Lendistry will reach out to you directly with more information on how to proceed. If you have any questions, please contact the Los Angeles SBDC’s Support Center at 1-833-364-7268, Monday through Friday (9:00am – 5:00pm PT).

The application process for this program contains multiple stages of validation. You must first meet the program’s minimum eligibility requirements in order to be considered for a grant. Important Note: Meeting the minimum eligibility requirements does not guarantee a grant award.

Once you are determined to be eligible for this program, your application will then go through final validation to determine if you are approved or declined for funding. A member of Lendistry’s team will reach out to you directly via email and phone call if additional documents or information is needed to complete this process.

Once your application is fully validated, you will receive an email from Lendistry to notify you if you have been approved or declined for grant funding. To learn more about The Review Process, you can click on the link here or the button below.

Technical Support for your Application Contact Lendistry’s Customer Experience Center if you require assistance with: Creating an account for the application portal Troubleshooting your portal account Completing and submitting the application Guidance on how to link your bank account in the portal and/or verify your identity during the application process Checking the status of your application Lendistry’s Customer Experience Center: Closed on all Federal holidays.