Eastside small businesses that have been financially impacted by the Lineage warehouse fire can now apply for up to $2 million in low-interest federal loans following a disaster declaration by California Gov. Gavin Newsom. But many immigrant-owned businesses may be excluded from that support.
Last week, the U.S. Small Business Administration (SBA) made its Economic Injury Disaster Loan program available to businesses and private nonprofits in LA, Kern, Orange, San Bernardino and Ventura counties that suffered financial losses due to the Lineage warehouse fire. The loans, however, may not be available to a significant portion of the city and county’s local business economy.
Recent changes to the SBA’s loan programs limit access to businesses owned by U.S. citizens and nationals, excluding many immigrant entrepreneurs — even businesses that are partly owned by permanent legal residents with a green card…