Los Angeles County has opened a second funding cycle of its Commercial Acquisition Fund, a forgivable-loan program designed to help small businesses, nonprofits, and mission-aligned developers purchase the commercial properties they occupy — before someone else does.
The Los Angeles County Department of Economic Opportunity (DEO) and its nonprofit lending partner Genesis LA Economic Growth Corporation announced $2.6 million in available financing for the new cycle, including $1 million in discretionary funds contributed by Supervisor Holly J. Mitchell (D-Inglewood, Hawthorne, Compton and surrounding communities) specifically for acquisitions within her district.
The program — formally known as the LA County Commercial Acquisition Fund, or CAF — offers forgivable financing, meaning recipients who meet program requirements may not have to repay the money. The structure is designed to lower the barrier for community-rooted organizations that lack the capital to compete with speculative buyers in LA County’s commercial real estate market.
“LA County’s Anti-Displacement Commercial Acquisition Fund allows communities to directly own and shape the future of their neighborhoods,” said Mitchell. “I’m proud to build on the success of the program’s first phase with additional funding to support more community-based organizations and developers to preserve and expand affordable commercial and mixed-use space.”
The first cycle deployed $10 million in American Rescue Plan Act funds across seven property acquisitions countywide, creating space for 39 small businesses, three nonprofits, and more than 125 creative workspaces — bringing vacant and underutilized properties back into productive use, according to DEO.
The second cycle is smaller in dollar terms but carries forward the same anti-displacement rationale, with explicit attention to corridors affected by the January 2025 windstorms and wildfires, and communities positioned to benefit — or feel pressure — from the 2026 FIFA World Cup and the 2028 Summer Olympics.
“Demand for this type of investment far exceeds current resources, and not every qualified project will be funded in this round,” said Kelly LoBianco, DEO director.
Applications for Phase I of the second cycle are expected to open May 5. DEO and Genesis LA plan to hold informational sessions ahead of that date. Interested applicants can sign up for updates through DEO’s website.
The county is also actively courting private capital to scale the program beyond what public funds can support. Organizations interested in co-investing or partnering can contact DEO at funds@opportunity.lacounty.gov.
