The City of La Mesa, in partnership with the East County Economic Development Council (ECEDC) and the Small Business Development Center (SBDC), is launching the revamped La Mesa Entrepreneurship Accelerator Program (LEAP). The program utilizes American Rescue Plan Act (ARPA) funds and aims to improve the growth and success of existing brick-and-mortars through financial assistance and training.
“I’m pleased that for the third consecutive year, we’re extending support to our local small businesses,” Mayor Mark Arapostathis, said. “LEAP has been instrumental for startup businesses since it began in 2022, encouraging entrepreneurship in La Mesa and enhancing our economic growth initiatives.”
LEAP Cohort Three will distribute approximately $350,000 in grant funds to approximately 35 La Mesa businesses, providing $10,000 per business. To receive grant funds, participating businesses are required to attend individualized advising sessions and complete business training courses. The program includes a beneficial training curriculum with concurrent individual advising sessions from qualified business advisors and an accountable case management system.
Business owners who complete the program can apply the grant funding to various costs related to labor, equipment, inventory, internal and exterior commercial space renovation, permits, supply chain improvements, and more. The course curriculum will be facilitated by highly qualified SBDC instructors at City of La Mesa facilities at convenient hours to accommodate work schedules.
“Cohort Three is an opportunity to support and reinforce the businesses that already exist in La Mesa,” ECEDC President and CEO James Sly, said. ”La Mesa cares about its small businesses and LEAP has been an effective example of how innovation in government can support this community, especially post-pandemic.”
To qualify for a Cohort Three grant, a business must be located in La Mesa’s incorporated city limits, be in business for at least one year, have not more than 20 employees, and have a valid La Mesa business license.
LEAP was approved by the La Mesa City Council in 2022 and funded through ARPA with goals to reduce the commercial property vacancy rate, provide hands-on training to local entrepreneurs, and encourage entrepreneurship in La Mesa. Since its inception, 12 entrepreneurs have signed leases to establish their businesses and have been awarded up to $240,000 in grants.
LEAP Cohorts One and Two supported entrepreneurial startups. However, the restructured Third Cohort now concentrates on existing brick-and-mortar businesses to aid their recovery from the prolonged effects of the COVID-19 Pandemic.
The online application portal to apply for LEAP Cohort Three will be available to April 30, 2024 through the ECEDC’s sitio web. Cohort Three will accept applications on a first come, first serve basis subject to availability of grant funds.
If interested applicants have questions about LEAP, they can contact Lyn Dedmon, assistant to the City metroanager, at (619) 667-1339 or by email, [email protected].
Information provided by: cityoflamesa.us
Crédito de la foto: Pixabay.com
