In the wake of the COVID-19 emergency situation, the City of Los Angeles has distributed $1.4 million in loans to hospitality businesses, including restaurants, bars and cafes.
Among the local businesses in the larger area of Koreatown that have received micro-loans from the city are:
6th Street Partners LLC
601 S. Western Avenue 90005
Amount: $20,000
Joy Furniture, Inc.
560 N Western Ave 90004
Amount: $5,000
HAK SAN LA
3101 W 8th St 90005
Amount: 10000
Ookook BBQ
3385 W 8th St 90005
Amount: 20000
Pretty Mama
3467 W 8th St 90005 Retail 10
Amount: 5000
Gaju Gimbap
833 S Western Ave 90005 Hospitality 10
Amount: 10000
88 PC CAFE
1100 S Western Ave 90006
Amount: 6500
Arms Length Communication Inc.
4005 W 3rd St 90020
Amount: 20000
CAP CONSULTING INSTITUTE INC
501 Shatto Pl 90020
Amount: 20000
Oakobing
3300 W 6th St 90020 Hospitality 10
Amount: 20000
HOLY ROLY ICE CREAM
3450 W 6th St 90020
Amount: 20000
MCHOI CORPORATION
3882 W 6th St 90020
Amount: 10000
STEP 32 GLOBAL, INC.
338 S Western Ave 90020
Amount: 10000
ZUNIGA’S MARKET
3033 W 6th St 90020
Amount: 10000
The City’s Small Business Emergency Microloan Program offers relaxed underwriting with no credit score minimum, a generous allowance to meet debt service, and a 100 percent loan to value ratio. The interest rate is either zero percent for a term of six months to one year, or three percent to five percent for a term of up to five years.