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Stock impact report

Los Angeles Small Businesses Can Now Apply for Assistance to Secure City Contracts [Los Angeles Times (CA)]

Banc of California, Inc. (BANC) 
Last banc of california, inc. earnings: 4/29 06:00 am Check Earnings Report
US:NASDAQ Investor Relations: snl.com/irw/corporateprofile/4074352
owners and entrepreneurs to apply for the Los Angeles Contract Financing Program, which was designed by the Mayor to help small businesses pursue procurement opportunities. A million dollars in funding to establish and facilitate the program was provided through a public-private partnership with Banc of California, which relocated its headquarters to the City of Los Angeles during Mayor Bass' first year in office. Many small businesses have been precluded from competing for City contracts because they lack the working capital to cover upfront costs while the City processes their payments. Through this new initiative, small business owners will be able to secure competitive loans to fund costs associated with fulfilling the new City contract. These loans will assist with securing the initial funds necessary to cover direct contract costs, such as materials, equipment and hiring employees to fulfill City contracts that might otherwise be a challenge. “Opening Los Angeles for busines Show less Read more
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