Juan Ramirez, owner of El Rinconcito Del Mar in Boyle Heights
The Hollywood BusinessSource Center (BSC) helped Juan Ramirez, owner of El Rinconcito Del Mar restaurant in Boyle Heights, obtain multiple loans and grants that allowed his restaurant to stay open and retain six employees during the COVID-19 pandemic.

In March 2020, Juan reached out to Lai Xu, a business coach at the Hollywood BusinessSource Center, operated by Managed Career Solutions Inc.

HELPING SMALL BUSINESSES SURVIVE COVID-19

Lai worked closely with Juan and provided him with information on several loan options offered through the U.S. Small Business Administration (SBA). Lai also reviewed other loans and programs available to Juan and his business.

Over the course of two months, Lai assisted Juan with applications for the City of LA’s Small Business Emergency Microloan, SBA Payroll Protection Program (PPP), SBA Economic Injury Disaster Loan (EIDL), TMC Small Business Big Heart Grant, and the Boyle Heights Chamber of Commerce Small Business COVID-19 Relief Fund Grant. Along with additional funding from other loans and grants he applied for, Juan received a $20,000 Los Angeles City Small Business Emergency Microloan.

The loans and grants helped cover payroll, food inventory, utilities and other COVID-19 related expenses. In addition, the Hollywood BSC assisted Juan with a profit and loss review, a profitability analysis, and access to capital. Juan said that he looks forward to continuing to work with the Hollywood BSC, as it provides many resources for small businesses.

El Rinconcito Del Mar is located in LA City Council District 14.

EWDD’s BusinessSource and WorkSource Centers offer a variety of Business Services, including several Financial Programs and Development Incentives for businesses of all sizes. Learn how EWDD can help.


This story is part of the EWDD UPDATES from the week of December 28, 2020. Read this issue and more.