Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Economic Recovery topic
No spam. Unsubscribe anytime.
County launches $250,000 business‑interruption fund for Topanga storefronts affected by slide; SBA EIDL prequalification effort underway
Summary
The county announced a $250,000 business‑interruption fund (up to $10,000 per eligible storefront) for businesses hit by the Topanga Canyon Boulevard closure; county staff also seek two more businesses to sign a short form so Topanga can pursue SBA EIDL eligibility for a wider program.
County staff told the Topanga Town Council the supervisor has allocated roughly $250,000 in discretionary funds for a business‑interruption program targeting storefront businesses severely affected by the Topanga Canyon Boulevard slide and closure.
Sophia, representing the supervisor’s office, said applications open July 1, will be processed on a first‑come, first‑served basis, and that eligible storefronts must show a minimum 50% drop in gross revenue since March 9, 2024. "You can get up to $10,000 per business," she said, and officials aim to distribute funds quickly: timely, complete applications should receive checks within three to four weeks after contractor review.
Meeting hosts also described a short county form that, if completed by at least five Topanga businesses, would qualify the community to apply for SBA Economic Injury Disaster Loan (EIDL) assistance at scale. "If 5 businesses do that, the entire small business community in Topanga can apply for an SBA loan," a council member said; the SBA loan program can provide much larger sums than the county grant and has long payback terms.
County staff will hold workshops (one in person at the Topanga Library and one virtual) to help businesses determine eligibility and complete applications. Staff also provided a hotline and said additional guidance and a fact sheet would be posted in chat and on the town council’s site.
Next steps: application portal opens July 1; a county hotline and workshops will be available; staff will circulate the fact sheet and application links to the community.
