Economic Prosperity – Alliance for a Better Community

Southeast Los Angeles Financial Resources

We understand the importance of Latinas/os for the Los Angeles region’s economic growth and vitality and the importance of Latina/o-owned businesses as a means for building wealth and long-term economic mobility. While the upward trajectory of Latina/o-owned businesses is promising, Latina/o businesses still face many challenges. For instance, these businesses often start out with less generational wealth and lower credit scores and struggle to obtain loans from traditional financial institutions. In our commitment to championing policies and programs that support Latina/o-owned businesses, ABC conducted a survey to gain insights into their characteristics and needs. In response to the surve y findings, we compiled resources and tools for individuals, small businesses, and communities in their journey toward financial success.

“You helped us when no one else would.”
– Family members who received cash assistance from ABC during the COVID-19 pandemic

Latinas/os have been disproportionately affected by COVID-19. Hospitalization rates for Latinas/os are 3.6 times the rate among Whites and they are twice as likely to die from the virus. California is 39.3% Latina/o but they make up over 50% of the COVID-19 cases.

Since the beginning of the pandemic, ABC has disbursed cash assistance grants to the most vulnerable communities impacted by the pandemic, especially undocumented families in Los Angeles County. As of May 2021, ABC has disbursed nearly one million dollars ($955,000) to over 400 families in direct cash assistance grants with funding from One Family LA and California Immigrants Resilience Fund (CIRF) with the support from 13 partner organizations who helped us identified families with the highest need.

With funding from CIRF, ABC developed and implemented a monthly cash assistance direct service to selected families from September 2020 to May 2021. From September through December 2020, 112 families were selected to receive $600 for three consecutive months and a one time $1,000 grant.

Out of 112 families:

87 families

experienced job loss or reduced hours at work

18 families

were relying on food banks or having food insecurity

15 families

were struggling with mental health issues

16 families

had three or more children

41 families

had at least one child in college

9 families

were DACA recipients

14 families

were dealing with digital divide struggles

33 families

were behind on rent

15 families

were behind on other utility bills

Marcela’s Story

When the pandemic hit, I lost my job and my daughter had just been accepted into college. I have been applying for jobs but due to my immigration status the opportunities are very limited. The assistance I have received has reduced my financial stress and has prevented my daughter from abandoning her dream of going to college.

From March through May 2021, ABC was able to continue this direct service to 100 new and previously awarded families to participate in a three-month $1,000 cash assistance service. ABC identified that the cash assistance programs created an impact far from just financial need. This program not only provided financial relief but it helped to close the digital divide by using these funds to cover the cost of internet service and having internet access for the first time in many households.

ABC also offered Know Your Rights workshops for hundreds of families and called on Congress to include immigrants in COVID-19 care.