Key Takeaways:
- LA County’s free Small Business Financial Clinic offers one-on-one coaching, debt management, and loan package assistance to businesses with 100 or fewer employees and under $19 million in annual revenue.
- The clinic delivers financial assessments, tailored action plans, workshops, and follow-up counseling to help owners secure capital and reduce debt.
- Participants get structured support for cash flow forecasting, organizing financials, and meeting lender requirements.
- The Financial Clinic pairs with LA County’s Shop Local Marketing Lab, addressing two small business essentials: capital access and sales growth.
LA County Launches Free Financial Clinic for Small Businesses
Los Angeles County launched a free Financial Clinic to help small businesses secure capital, manage debt and build long-lasting stability. Delivered through the Department of Economic Opportunity’s Office of Small Business and regional partners, the program offers one-on-one coaching, financial education, capital readiness support and counseling as part of the county’s Economic Mobility Initiative, which the Board of Supervisors launched in 2024. Managed Career Solutions and Money Management International deliver services through the county’s partner network. Eligible businesses must be located in Los Angeles County, have 100 or fewer employees, and generate $19 million or less in annual revenue, thresholds that match California Department of General Services standards.
What Does the Financial Clinic Actually Offer?
The clinic provides individualized help: in-depth financial assessments, tailored action plans and follow-up support rather than one-time advice. Owners can get help preparing loan packages, organizing financials, identifying funding options and building debt reduction plans that free up cash flow. Workshops run alongside counseling and give owners practical tools to apply immediately. Owners who enroll start with a financial assessment, then move through a schedule of workshops and counseling sessions, building cash flow forecasts, setting debt repayment priorities and completing documentation checklists to become capital ready.
Why Does This Matter for Small Business Owners?
Access to capital is a common barrier for small firms, and clean books often determine whether a loan or grant application moves forward. The clinic also pairs with the county’s Shop Local Marketing Lab, a six-week virtual course that helps businesses strengthen marketing strategies and reach more customers. Together, the two programs address two core needs: capital to operate and sales to sustain growth. Supervisor Holly Mitchell said the goal is to ensure entrepreneurs, regardless of zip code or banking relationship, can access tools, capital and connections to grow. Owners can review requirements and register at emi.lacounty.gov/FinancialClinic.
(Note: AI assisted in summarizing the key points for this story.)