Business Interruption Fund (BIF) Program FAQs 

• What is the Business Interruption Fund (BIF)?

  The Entertainment Business Interruption Fund (BIF), funded by the American Rescue Plan (ARP), is designed to support qualified small businesses that serve the Entertainment Industry in Los Angeles County (County). The Department of Economic Opportunity (DEO) through the County Film Office, is the leading the program based on the July 2023 motion by Supervisors Lindsey P. Horvath and Kathryn Barger.  

  Total funding: $4,800,000

  Launch date: April 25, 2024
  
  The BIF is targeted to entertainment-related small and micro businesses that are located in the highest, high, and/or moderate impact areas on the COVID-19 Vulnerability and Recovery Index, using the Equity Explorer Mapping Tool.  Click on the link to identify which tier your business is in and to see if you are eligible.  Those in the low and lowest tiers are not eligible. 

  The tool utilizes the COVID-19 Vulnerability and Recovery Index to identify and visually sort County, cities, and communities into five need tiers ranging from highest to lowest need based on COVID-19-related risk, severity, and recovery need.  Using this information, the County will target BIF funding toward communities in the top three tiers.

  The County, through its Film Office and Department of Economic Opportunity (DEO), has partnered with Lendistry to create the application portal and the Los Angeles Regional Small Business Development Center Network (LA SBDC) to provide outreach and application assistance.

• Who is the LA County Film Office and Department of Economic Opportunity (DEO)?

  The LA County Film Office oversees all Film, TV, and Commercial permitting policies and regulations for the County of Los Angeles and leads all economic development strategies with DEO to support the growth and retention of the Entertainment Industry in the County. 

  The Department of Economic Opportunity (DEO) is the County Economic and Workforce Development dedicated to creating an equitable economy with thriving local communities, inclusive and sustainable growth, and opportunity and mobility for all.

• Who is Lendistry?

  Lendistry is a technology partner that hosts and manages the portal for the Program’s grant application and will make grant payments to approved applicants. Applicants will receive notifications from Lendistry on the status of their application and requests for business information and supporting documents, including their business bank account information. Visit www.lendistry.com to learn more about Lendistry.

• Who is SBDC?

  The LA SBDC Network provides small business entrepreneurs with no-cost, confidential, business advising services and low-cost training opportunities, across Los Angeles, Santa Barbara and Ventura Counties. Los Angeles Regional Small Business Development Center Network (smallbizla.org)

• Who is eligible to apply for BIF?

  To qualify for this Program, participants must meet all the following requirements:

  1. Must be a for-profit business with $3 million or less in annual gross revenue as reflected in Applicant’s most recently filed, federal business tax return.
  2. Entertainment-related small and micro businesses that are located in the highest, high, and/or moderate impact areas on the COVID-19 Vulnerability and Recovery Index.Businesses  in the low and lowest tiers are not eligible.  Use the Equity Explorer Mapping Tool to identify which tier your business is in.
  3. Must have experienced at least a 70% loss of revenue due to the COVID -19 Pandemic from March 1, 2020, to present, as well as the 2023 double Hollywood Strikes between May 1, 2023 – November 30, 2023.
  4. At least 70% of revenue must come from the Entertainment Industry sector.
  5. Loss must be equal to or greater than grant amount requested.
  6. Business must have been registered to do business legally in the state of California and/or any other applicable jurisdiction prior to December 30, 2021, or other similar business filings.
  7. Active business currently in operation that is in good standing with all local, state, and federal taxing and licensing authorities.
  8. Must have a current physical location within the County of Los Angeles as of May 2023.
  9. Negative economic impacts from COVID – 19 Pandemic March 1, 2020 – present and the 2023 double Hollywood Strikes between May 1, 2023 – November 30, 2023
  10. Must not have received a grant funded by the American Rescue Plan Act (ARPA) from Los Angeles County.
  11. Application must be submitted by a majority owner that is at least 18 years of age as of the date of application.

• What businesses are ineligible for BIF?

  Ineligible businesses for this Program include: 

  1. Nonprofit organizations
  2. Religious or Churches
  3. Government offices or agencies
  4. Publicly traded companies.
  5. Corporate-owned franchises.
  6. Financial institutions, such as banks, lenders, pay day lenders, auto title lenders, check cashers, other businesses whose stock in trade is money and mortgages, and other similar entities.
  7. Insurance companies, such as life, auto, home, bail bond, and other similar entities.
  8. Private or social clubs.
  9. Pawn shops.
  10. Astrology, Palm Reading.
  11. Liquor stores, night clubs.
  12. Lobbying firms or businesses who dedicate 50% or more of their time or resources to lobbying activities.
  13. Businesses that engage in gambling activities, such as Bingo parlors, casinos.
  14. Adult bookstores and businesses that present live performances of a sexual nature.
  15. Businesses that generate income through activities performed in violation of state or federal law, including the sale, cultivation, or transportation of marijuana.
  16. Businesses that exist for the purpose of advancing partisan political activities.
  17. Gun or ammunition stores.
  18. Businesses or organizations which are, or whose owners, officers, partners, directors, and/or principals are, currently suspended, disbarred, ineligible, or excluded from participation in federal, State, or County assistance programs or from receiving federal or State financial or nonfinancial assistance and/or benefits.

• What can this grant money be used for?

  Grant awards to Program awardees will be used to cover operational expenses related to COVID-19 and the 2023 double Hollywood Strikes that were incurred during the period from March 1, 2020 to present.

  1. The purchase of new certified equipment
  2. Restock of liquidated inventory
  3. Lease, rent, or mortgage payments.
  4. Payment of business debt accrued due to the COVID-19 pandemic and the 2023 double Hollywood Strikes.
  5. Costs resulting from the COVID-19 pandemic and related health and safety restrictions, or business interruptions or closures incurred because of the COVID-19 pandemic and the 2023 double Hollywood Strikes.
  6. Employee payroll expenses.
  7. Working capital to continue operations.
  8. Payment of outstanding business expenses (supplier management, etc.)
  9. Grant awards may not be used by awardee for regranting or for any uses or expenses that the awardee has been, or will be, reimbursed for under any federal program

  
  

• What documents will I need to submit with my application for BIF?

  The following documents are required to apply for this Program:

  1. Most recently filed, complete, unaltered federal business tax return (IRS Form 1120, IRS Form 1065, IRS Form 1040 Schedule C)

  2. Official filing with the California Secretary of State (which must be active) or local municipality, as applicable, for your business or organization, such as one of the following:

       - Articles of Incorporation;
       - Certificate of Organization;
       - Fictitious Business Name filing;
       - Professional license;
       - Government-issued business license or permit.

  3. Proof of location via utility bill or similar third-party document, as applicable

  4. Acceptable government-issued photo ID uploaded via Persona, which will be embedded in the application

  5. Applicant Certifications

  
  This list is not exhaustive. Lendistry may contact you by email, phone, and/or text (if authorized) to request additional documentation to verify the information you submitted in your application.

   

• How will grant sizes be determined?

  Grant awards will be determined by the annual gross revenue (AGR) of the business. Businesses with AGR between $1,000,000 and $3,000,000 may be eligible for a $25,000 grant award. Businesses with AGR equal to or less than $999,999 may be eligible for a $10,000 grant award.

• Can I still apply for Phase 1 or Phase 2 of the EOG Program?

  No, the application period for Phase 1 and Phase 2 EOG Program ended on May 31, 2023. Sign up here to get updates from DEO and learn about other opportunities. Follow the Department of Economic Opportunity @EconOppLA on Twitter, Facebook, and Instagram to be the first to know about our upcoming programs and resources.

• Will submitting an application guarantee a grant award for BIF?

  No. Funding for this Program is limited, and it is possible that the number of applicants who meet the eligibility requirements will exceed the available funds. Submitting an application, meeting the eligibility requirements, and/or being approved for a grant award does not guarantee that you will receive funding.

• When is the deadline to submit an application for BIF?

  You must submit your application by May 24, 2024, at 5:00 p.m. PT for it to be reviewed.

  If your application is not submitted by the deadline outlined above, it will be considered “inactive” and will not enter the application review process.

• My login credentials for the application portal, powered by Lendistry, aren’t working. How do I access my account?

  To log into Lendistry’s Portal, applicants will need to use the email address, password, and mobile number they registered at the beginning of the application process. Please review the Program and Application Guide for reference.

  Applicants of BIF who are unable to sign in to Lendistry’s Portal with their registered credentials should review the following steps to troubleshoot their account.

  - Applicants who do not know the email address or mobile number they registered may contact Lendistry’s Customer Experience Center at 888-984-1173 (M – F: 7:00am – 7:00pm PT).
  - Applicants who do not know their password will need to reset it themselves. Our Call Center does not have access to their password. Applicants can click HERE to reset their password.

  Lendistry’s Portal can be accessed HERE.

  
  

• If I am awarded funds under BIF, does it need to be repaid?

  No. BIF is a grant and is not a loan that is required to be repaid. However, the County of Los Angeles has the right to seek all available remedies for failing to comply with the terms and conditions of the grant, including, without limitation, if the grantee was ineligible, used funds for unauthorized purposes, or made false statements in connection with the grant application.

• If I am awarded funds under BIF, will I need to report it on my tax returns?

  You will receive tax information related to the grant proceeds from Lendistry at the beginning of 2025. Please consult with a tax professional for additional information.

  Important Note: Lendistry and its affiliates do not provide tax, legal or accounting advice. This material has been prepared for informational purposes only and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. Readers should consult their own tax, legal and accounting advisors before completing their tax filings.
  

  THERE ARE NO WARRANTIES, EXPRESSED OR IMPLIED, AS TO ACCURACY, COMPLETENESS, OR RESULTS OBTAINED FROM ANY INFORMATION POSTED IN THIS PRESENTATION OR ANY LINKED WEBSITE.

• How will I know if my application was submitted?

  You will receive a confirmation email from noreply@lendistry.com to confirm your BIF application has been received. If more information or documents are needed, Lendistry may contact you by email and/or phone to verify the information you submitted. Lendistry is available to assist you in understanding what business information is needed and how to upload documents.

  Confirmation emails come from Lendistry at noreply@lendistry.com. If you do not receive a confirmation email after submitting your application, we advise you to check your spam folder for emails from noreply@lendistry.com and add the email address to their email account’s safe sender list.

  TIP: Place “Lendistry” in the search bar.

• Where can I check the status of my existing application?

  You can check the status of your application at any time by signing into Lendistry’s Portal.

  Once signed in, the status of your application will be located on the dashboard.

  Lendistry’s Portal can be accessed HERE.

• How will I know if I have been awarded a BIF grant?

  The application process for BIF contains multiple stages of validation. You must first meet the Program’s minimum eligibility requirements to be considered for a grant. Important Note: Meeting the minimum eligibility requirements does not guarantee a grant award.

  Your application is eligible for BIF, it will then go through the final stages of validation to determine if you are approved or declined for funding. As part of this validation process, you may be required to submit additional documentation and/or confirm certain information live over the telephone. A team member from Lendistry, our third-party administrator, will reach out to you directly to complete this process.

  Once your BIF application is fully validated, you will receive an email from Lendistry to notify you if you have been approved or declined for grant funding.

• Is there additional documentation that I need to submit to receive funds if I was awarded a BIF grant?

  If you are approved for a BIF grant, you will be required to sign your Grantee Agreement and W-9. Both documents will be available in Lendistry’s Portal as a DocuSign document.

  You will receive an email from Lendistry when these documents are available. Sign into Lendistry’s Portal and follow the instructions from DocuSign to sign and submit both documents.

  Your bank account must also be validated and active.

  Grant funds cannot be disbursed until Lendistry receives your signed Grantee Agreement and W-9, and your bank account is validated.

• The application requests personal information from me: how is this information being used?

  The personal information requested in your application is to assist us in determining and verifying your eligibility for a BIF grant. Lendistry, on behalf of the County of Los Angeles through its Department of Economic Opportunity (DEO), also requests certain personal information for compliance with Office of Foreign Assets Control requirements and other requirements related to the enforcement of economic and trade sanctions. As BIF is administered by the County of Los Angeles through its Department of Economic Opportunity (DEO), certain elements of your personal information and application materials may/will also be shared with the County of Los Angeles and/or its designated authorized representatives, including without limitation the Los Angeles County Department of Economic Opportunity. Any information and records in the possession or control of a California government agency or department may be subject to disclosure as per the California Public Records Act.

  See Lendistry’s Privacy Policy for more information.

• What type of bank account do I need to accept funds for BIF?

  Bank accounts must always match the business name listed in the application.

  Sole Proprietors or Single Member LLCs can be funded through a personal bank account that shows business activity. All other types of businesses must have a business bank account to receive funding.

   

• Does an applicant have to submit documentation to verify ownership? Do multi-owner companies have to submit for one owner or all?

  An application must be submitted by the majority owner of the business. Applicants will need to certify that the application is being submitted by the majority owner of the applicant as a condition to receiving the grant. Only one business owner can apply.

• What is Persona?

  Persona is a third-party platform utilized by Lendistry in its fraud prevention and mitigation process. The Persona platform enables Lendistry to verify an individual’s identity and protect against identity spoofing by automatically comparing the individual’s selfie to their ID portrait with a 3-point composite and biometric liveness checks.

  For more help with Persona, visit https://help.withpersona.com/for-end-users/.

• Can I request a reexamination if my application was declined for a BIF grant?

  Only one reexamination request is allowed for each application.

  You will be notified via email if you are ineligible for a BIF grant. If you believe there was an error in your application or in the documentation you submitted, please contact Lendistry’s dedicated Customer Experience Center at 888-984-1173 (M – F: 7:00 a.m. – 7:00 p.m. PT) within five (5) days of the email being sent.

  Please note that a reexamination does not guarantee a reversal of your ineligibility. Additional documents and information may be requested to further validate your application.

  If Lendistry does not hear from an applicant within this timeframe, your ineligibility status will be sustained and your file will be closed.