LISC ABC Growth Capital Request For Information

Terms & Conditions

Please see fact sheet and FAQ linked below for this program:

Fact Sheet
FAQ

Businesses may apply once for this round and for one business only. Only qualified businesses are eligible. Eligibility is based on accurate and complete submissions.

Only for-profit entities based in the County of Los Angeles are eligible for the capital. Sole proprietors and non-profit organizations are not eligible. Businesses must be in operation for at least two years demonstrated through at least two years of business tax returns.

The program will focus on serving businesses based in historically under-served areas of the County of LA, businesses that create quality jobs, and businesses that have a high community impact.

If your business is selected for further review, you will be notified via email. Being selected for further review does not guarantee an investment will be made. Additional documentation will be required. This due diligence inquiry may include a background search that LISC will conduct at our expense. If the business is selected for investment, we will ask for W-9 and appropriate banking information so that we may transfer funds by ACH to your designated account.

All taxes associated with the acceptance of these funds are the sole responsibility of the individual business recipient. Recipients are advised to consult with their own tax professionals and/or legal counsel to ascertain tax impact of any funds distributed. LISC will issue a Form 1099 for any forgiveness issued at $600 or above.

Privacy: Information provided through this process is the responsibility of each business. Information submitted to the portal remain confidential to the general public and any fellow businesses. Businesses will not hold LISC, Wells Fargo Bank, or either of their respective affiliates, and/or their affiliates’ respective members, partners, officers, employees, and agents liable for any losses, damages, costs, or expenses of any kind relating to the use or the adequacy, accuracy, or completeness of any information loaded in the form. For further information please see LISC’s privacy policy. Data entered on this secure form utilizes Form Assembly.

Conflict of Interest: Current directors, officers, employees and contractors of LISC or Wells Fargo Bank and such individuals' family members (spouse, parents, children, grandchildren, great-grandchildren, and spouses of children, grandchildren, and great-grandchildren) may not be eligible to receive funding.

Publicity: If selected for investment, please be advised that the business’ information, name, statements, and other information provided during the investment process may be used for promotional purposes in all forms and media and the business may be contacted by LISC and/or the program sponsors for such purposes. Businesses grants to LISC and the program sponsors a perpetual license to use such information without additional compensation (except where prohibited by law), and without any right to review and/or approve such content. Until notified, businesses must agree not to share any submission status publicly, including but not limited to all social media platforms, news media, or local publications.

Monitoring: LISC will monitor and conduct evaluation activity funded by the LISC Growth Capital Program. This will involve the bi-annual collection of data on a template provided by LISC.

Submission Guidance: LISC cannot accept changes to your responses once it has been submitted, so please review it carefully. Your work may not be saved if you leave the web page before submitting this request for information. You may also lose your work if your internet is disconnected, or as a result of other potential web browser issues.

You will see a confirmation page after successful submission.

I acknowledge I have read and agree to the Terms and Conditions stated above:

YesNo

Business Information

Legal Business Name

Doing Business As (DBA). if applicable.

Primary Business Address

For businesses with multiple locations, enter the address of the highest grossing location.
If the business is mobile (food truck, fishing boat, etc.) provide the address where the vehicle is stored during non-business hours.

Street Number, Name

City, State, Zip Code

Does the primary business address above serve as the registered legal business address (address used on all Federal forms (taxes, W-9, etc))?

YesNo

Select the option that best describes your business location:

If other, please specify below:

Business Structure - Please choose legal structure of your business from the following list.

If other, please specify below:

What is the primary purpose of your business? What goods and/or services do you provide as your main source of revenue?

How does your business currently seek to work with or serve socially or economically disadvantaged or underrepresented populations (e.g., hiring or on the job training practices, geographic focus on economically disadvantaged areas, charitable undertakings, etc.)?

Explain if and how your race, religion, ethnic origin, gender, sexual orientation, identifiable disability, or other identities have negatively impacted your ability to access capital for your business or grow your business. Describe any examples of such negative impact (e.g., incidents of discrimination or bias you have experienced that have curtailed or limited your business prospects). These examples should come from your individual experience and not describe societal discrimination or bias generally. Clearly describing your experiences attempting to access capital for your business or grow your business is an important part of determining eligibility for this program.

Specifically, what was your entity's gross revenue in the calendar year 2023? (Gross revenue is total business receipts or sales)

Years in Business:

2-3 years3-5 years5-10 yearsGreater than 10 years

Including yourself, how many full-time employees (workers who work 35 hours/week or more,) does your business employ as of today?

Including yourself, how many part-time employees (workers who work 35 hours/week or more,) does your business employ as of today?

What is your business' primary industry?

What is your business' NAICS code? You can search by keyword here: https://www.naics.com/code-search/ or find it on your tax return.

Business Website

Primary Business Social Media Address (e.g. Facebook, Twitter, or Instagram)

Loan Information

Potential Loan Uses: This capital is to be used for the purchase of a business asset that will directly result in an increase in revenue for the business. Eligible business assets include the following:

Purchase of machinery, equipment, new or updated technology
Inventory
Leasehold improvements (not to exceed $100,000)

Some key points to be aware of:
1. Total loan request should be no greater than $250,000. If seeking funding for tenant improvements, the total budget for those tenant improvements should not add up to more than $100,000.

2. Total loan amount should not exceed 25% of annual sales as established by previous years’ tax returns.
2. Growth Capital can only be used for machinery, equipment, new or updated technology, inventory, or small leasehold improvements.
3. Ineligible uses of this capital include anything not listed in point #2 above. Therefore, costs like hiring, bills, rent, marketing, or other working capital are not eligible for funding.

Please note that amounts requested will be underwritten and based on analysis of business historic financials, substantiated projections, appropriate debt coverage ratios, and other underwriting standards as applicable to the industry. In addition, ultimate award sizes are based on funder requirements, program parameters, available funds and other criteria as determined by LISC.

Loan Amount Request:

Describe the use of the loan and how it will help your business grow:

Do you currently have any business debts? Business debts include debt capital from banks or other lenders and equity investments made by someone other than the owner(s)?

YesNo

Are you currently behind with payments related to the business?

YesNo

Do you have additional income outside of your business to support personal or lifestyle expenses? Additional income can be from a secondary job, from a partner or family member, or from investments?

YesNo

Uploads

Your application will not be considered complete until you upload these documents. Your supporting documentation will be stored in Box in order to protect your Personal Identifiable Information (PII) and maintain security. When uploading documents, kindly name the documents with the following format: DOC NAME_LAST NAME OF APPLICANT).

Please confirm that your uploads are not password protected.

1.c. 2023 Business tax returns (or 2022 if an extension has been filed)

3.b. 2023 Personal tax returns (or 2022 if an extension has been filed)

5. Articles of Incorporation

6. Copy of Photo Identification

7. Business Debt Schedule

Confirm that the documents requested above have been uploaded. LISC cannot complete review of the request until all documents are received.

YesNo

Additional Documentation

Businesses selected to advance past intake will be assigned a free Technical Assistance provider to provide the documents listed below. We encourage every business to gather these documents, and make sure they are active and in good standing with the related government entities.

Income Statements (Profit and Loss Statements) for 2022, 2023 and year-to-date 2024
Refined Balance Sheets (Assets & Liabilities) for 2022, 2023 and year-to-date 2024 (if applicable)
Financial Projections for the upcoming 5 fiscal years
Accounts Payable/Receivable aging report
Business Plan
Refined Business Debt Schedule (if applicable)
Detailed line item budget for the growth capital investment.
Active Local Business License
Personal Financial Statement: Template to be provided
Resume of all business owners: Upload a resume or CV of all business owner
Job supplement: Template to be provided
Contracts: provide copies of any new or existing contracts that substantiate the requested loan amount.
California Certificate of Good Standing
Legal Formation Documents, Articles of Incorporation, Corporate Bylaws and/or Partnership Agreements
Letter of Support from a technical assistance provider that speaks to the business' ability to meet revenue growth metrics outlined in the project cash flow.
Quotes for purchases/purchase orders/invoices (if applicable)

Do you acknowledge that if your initial request for financing is accepted, that you will be able to provide the documents listed above?

YesNo

Submission

Final Step: Please review the information below, e-sign and submit your responses:

Thank you for completing this request. Please click 'Submit' below to complete your submission.

If your business is selected for further review, you will be notified via email. Please note, it will take approximately 10-14 business days for us to review your information. Being selected for further review does not guarantee an investment will be made. Additional documentation will be required.

For data security questions, please review LISC’s Privacy Policy.

By signing your name and submitting the below, you confirm that the information provided about you and your business are true in all material respects.

Full Legal Name

Date