BUSINESS INTERRUPTION FUND
Metro construction can mean growth opportunities for small businesses located along the rail lines, but the construction process can cause problems for those businesses. METRO wants small businesses to continue to thrive during construction, so the Business Interruption Fund (BIF) has been created to help.
What is the BIF?
Metro’s BIF is administered by Pacific Coast Regional Small Business Development Corporation (PCR), and it is designed to provide financial assistance to small businesses located adjacent to, and impacted by the Metro construction projects noted below:
• The Crenshaw Line
• The Little Tokyo Regional Connector
• Phase 1 of the Purple Line Extension
The financial assistance comes in the form of a grant of up to $50,000 to cover such costs as:
Who can apply?
Qualifying applicants must be a small business with 25 or less employees, have operated in the construction zone for at least 2 years, and be current with local, state and federal taxing and licensing authorities.
It must be noted that BIF aid is only available for those businesses impacted by current construction projects. Businesses located along any of Metro’s other lines will not qualify.
How do I get started?