SMEs hit by a pandemic in southern Los Angeles receive a lot of the support they need
Partnership between LISCLA and Kaiser Permanente provides a lifeline
Cary Jordan Jr. first experienced how the COVID-19 pandemic had a devastating impact on small businesses.
In the midst of a pandemic, Jordan’s hot dog legacy family business owners on Clenshaw Boulevard have more than 30 South LA family-style restaurants with a full menu of American favorites such as burgers, hot dogs, and secret recipes Chile. Said lost% of that business. He was worried about the future.
Today is, Local Initiative Support Corporation Los Angeles (LISC LA)With the help of nearly $ 1 million in funding from Kaiser Permanente to support small businesses, Jordan’s hot dogs have rebounded and are on track.
“Much so!” Jordan replied when asked if the financial support his family-owned business received made a difference. “We are not a franchise, so it was very helpful in keeping our business going despite difficult times.”
The COVID-19 pandemic has had the impact of debilitating the ability of many SMEs to maintain themselves, and many are struggling to keep their doors open. Many were forced to dismiss employees who depended on their salaries to support and support their families.
With nearly $ 1 million in funding from Kaiser Permanente, LISC LA was able to provide valuable support to South LA small business owners who were hit hard like Jordan’s hot dogs. This allowed them to continue their activities despite the difficult challenges posed by the pandemic.
LISCLA Executive Director Tunua Thrash-Ntuk said the organizational partnership with Kaiser Permanente has had a very positive impact on communities such as Crenshaw-Slauson Corridor, where many diversely owned SMEs are struggling to survive. Said that.
“LISCLA is grateful to have a partner like Kaiser Permanente who shares our goal of not only bridging the gap in racial health, wealth and opportunity, but also creating truly lasting change. I’m doing it, “she said. “Such partnerships are essential to promote fair growth in diverse communities and businesses, including those owned by women and people of color.”
The collaboration between Kaiser Permanente and LISCLA has made small businesses in the Crenshaw-Lawson Boulevard Corridor unable to withstand the financial challenges associated with Covid. It also allowed many to remain open, retain employees, and often even grow.
Jordan said the restaurant was able to secure a $ 20,000 grant from LISCLA, thanks to Kaiser Permanente’s funding used to offset costs associated with production, operations and salaries that highlighted small businesses. rice field. It also helped Jordan’s hot dogs use the power of social media to rebrand and do better marketing via Facebook and Instagram. The result was increased revenue and helped the restaurant rebound during difficult times.
“Being a small business, we didn’t have much capital to handle our day-to-day operations, especially during a pandemic,” explained Jordan. “It was amazing to be able to get that money to help us, and it made a big difference.”
NS partnership Between Kaiser Permanente and LISC, we focus on three main objectives to support SMEs.
SME Growth: LISC supports the growth of local SMEs by providing technical support and facilitating capital access through public resources, partners such as Kaiser Permanente, and LISC’s own lending equipment.
Help Residents Increase Income and Wealth: Leverage an evidence-based financial opportunity center model. Bridge to career Its components, LISC and its partners, connect people to quality work and increase financial security through financial coaching, skill re-learning, and collaboration with anchor employers.
Revitalization of neighborhoods and commercial corridors: Work with local governments and community partners to transform underutilized spaces into SME shelters and revitalize them. This includes neighborhood planning, as well as grants, funding, and technical assistance to partners pursuing major real estate and infrastructure projects.
John Yamamoto, Vice President of Community Health and Government at Kaiser Permanente, said that medical institutions with 4.7 million members in Southern California are working to improve the health of the communities in which they serve. Said that he is working on. This includes providing quality medical care and addressing upstream causes of poor health, such as poverty, income inequality and lack of financial opportunities.
“In the Kaiser Permanente-serviced community, there is a strong correlation between economic and health inequalities. In southern Los Angeles, residents have a higher incidence of chronic disease and shorter life expectancy.” Yamamoto said. “Kaiser Permanente has partnered with LISC to promote comprehensive economic revitalization, support SMEs creating employment and a healthy environment in the Clenshaw Corridor, and provide a financial base for better health for residents. We are improving the health of the community by helping to build it. “
Small Businesses Hard-Hit by the Pandemic in South L.A. Receive Much Needed Assistance – Los Angeles Sentinel | Los Angeles Sentinel Source link Small Businesses Hard-Hit by the Pandemic in South L.A. Receive Much Needed Assistance – Los Angeles Sentinel | Los Angeles Sentinel