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Norwalk adopts changes to small business loan program

NORWALK — The City Council July 21 unanimously approved changes to its previously approved small business loan program, which can now increase loans and help finance business activities, officials said. On May 19, the council approved $700,000 to fund forgivable loans to businesses affected by the COVID-19 pandemic with a maximum loan of $10,000 per Read More…

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MTA prepares to lose more than $1 billion in revenue

LOS ANGELES — The more-than-$1 billion the Los Angeles County Metropolitan Transportation Authority is expected to receive in initial federal COVID-19 relief funding will not be enough to cover all of its losses due to the pandemic, board members said May 29. Transportation officials said they are anticipating a loss of more than $1.8 billion Read More…

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Restaurant owners struggle to survive during pandemic

LOS ANGELES — On April 3, Dennis and Miguel Hernandez rushed to the Highland Park branch of Bank of America, seeking a $72,000 emergency loan to cover wages of 24 employees at the two Antigua Bakery restaurants they own.  They are still waiting for an answer. With sales declining more than 55% a day after Read More…