By: Pierce Nahigyan
The City of Long Beach offers microloan options for startups and small businesses with five or fewer employees, but what about established businesses that want to expand their operations? The Grow Long Beach Fund makes it possible for these businesses to receive up to $2 million in financing.
To date, Long Beach has invested $1.15 million in its Grow Long Beach Fund and provided $8,494,800 in loans to local businesses. “The program has proven to be a great venue for us to be able to help those businesses that need anywhere from $150,000 to $2 million,” Jalali told the Business Journal.