Grand Opening of the East LA Entrepreneur Center
2.10.2020
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LISC StoriesEconomic Development
LISC LA Team with Azusena Favela, Deputy Director of LA County Consumer & Business Affairs, and Ernesto Bobadilla from the Office of Small Business' Consumer and Business Affairs Dept.
On Wednesday, January 22nd, the East LA Entrepreneur Center celebrated its Grand Opening. The LA County Board of Supervisors approved a motion authored by Supervisor Hilda Solis to establish the Center at the Centro Maravilla Community Center.
The new East LA Entrepreneur Center at Centro Maravilla will support local small businesses, building essential connections to services, and capital that they need to thrive. Combined with my other effort to launch a Countywide microloan program, this new Entrepreneur Center is an essential part of my ongoing commitment to support local small businesses and our communities, ensuring support and empowerment to those who need it the most. It is my hope that this effort is replicated in other communities in LA County.
The Center will provide resources and services to entrepreneurs and local businesses, like business development tools, access to capital, mentoring, credit repair, technical assistance, and support with navigating the County’s certification, registration, and procurement system. More so, programs and other necessary materials will also be made available in a culturally appropriate manner, all in a bid to empower and motivate small and micro business owners to succeed and at the same time help sustain prosperity, community success, and economic sustainability.
Our partners, Project Equity and Inclusive Action For the City will provide services for the businesses working with the Center. Project Equity will assist with small business succession planning and, if suitable, will assist with transitioning the business to an employee-owned model. Headquartered in the San Francisco Bay Area, Project Equity is working across the US to promote employee ownership as an exit strategy for business owners to preserve local jobs while also addressing income and wealth inequality.
Inclusive Action for the City (IAC), another one of our partners, is a locally based nonprofit with a mission to build stronger local economies through advocacy and economic development initiatives. IAC will provide micro-loans and technical assistance to small businesses at the Center. IAC has an expertise in food-based businesses, as their Semi’a Fund was inspired by their advocacy work to legalize street vending.
In a community where 23% of the population lives below the poverty line, this center is a much needed resource (Source). LISC LA is proud to support initiatives like this that promote economic inclusion in underserved neighborhoods. LISC LA looks to further complement the Center’s work through our own direct investments and our small business ecosystem development. LISC LA believes that through these resources, we can foster a more inclusive economy for a diverse range of entrepreneurs and small businesses. Learn more about our innovative small business programs here.
The work of LISC LA is made possible by supporters like Manufacturers Bank.
