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  1. Rex Richardson serves as the Mayor of the city of Long Beach, which is governed by the elected City Council.

Long Beach receives $750,000 federal grant to expand small business loans

1 report, 1 independent Updated Mon 00:00
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What happened

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Long Beach received a $750,000 federal grant from the U.S. Economic Development Administration to expand its small-business loan programs. This funding will support the city’s Revolving Loan Fund programs, which offer low-interest loans to help businesses launch or expand operations. City officials noted that these programs have previously issued over $7.9 million in loans, resulting in the creation or retention of 650 jobs.

From presstelegram.com

Why it matters

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The grant provides additional financing opportunities for entrepreneurs and businesses that have difficulty securing traditional bank loans. By strengthening these programs, the investment helps local businesses invest in operations, purchase equipment, and build a foundation for long-term growth.

Rex Richardson serves as the Mayor of Long Beach, which is governed by the elected City Council.

From presstelegram.com

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Rex Richardson serves as the Mayor of the city of Long Beach, which is governed by the elected City Council.

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