In honor of Small Business Week, Los Angeles County’s Department of Economic Opportunity (DEO) launched American Rescue Plan Act programs and grant opportunities for small businesses, microbusinesses, and nonprofits.

The Economic Mobility Initiative (EMI), facilitated in partnership with 15 local community-based organizations, is a $25 million investment aiming to support the startup and growth of local entrepreneurs, businesses and nonprofits including the newly released Commercial Acquisition Fund, which provides up to $2 million in grants to help non-profits acquire and revitalize commercial spaces in areas hit hard by the COVID-19 pandemic.

“With the launch of EMI, we are establishing a transformative program tailored for our most historically underserved communities and setting a precedent for how we support economic development that truly includes everyone,” said Supervisor Holly J. Mitchell of the Second District.

To further support small businesses and entrepreneurs, EMI kicked off a five-part LA Region Small Business Summit presented by the County and City of Los Angeles. Throughout May, the free in-person series will connect small businesses with resources, services, expert panels and programs aimed to help businesses grow and thrive.

EMI is built to be a coordinated and collaborative support system that centralizes services for entrepreneurs, small business owners, and nonprofits in three areas, including technical assistance and training, access to capital and commercial space and entrepreneurship academies. Visit the DEO website for more information about the summits.