L.A. stories of inspiration and success

L.A. stories of inspiration and success

Lenchita's restaurant in Pacoima celebrated a grand reopening after receiving access to capital through the JEDI program and the Northa Valley BusinessSource Center (ICON CDC) for improvements to their existing restaurant
The City of Los Angeles Jobs and Economic Development Incentive Zones (JEDI) Program provides economic development incentives for underserved areas that experience persistent unemployment and underemployment, low and moderate household income earnings, and neighborhood instability.

The program aims to gradually create economic equity citywide by promoting and expanding local businesses, resulting in greater employment opportunities and more financially secure communities. Lenchita’s restaurant is one of the businesses that has received assistance through the JEDI Zone Program and the North Valley BusinessSource Center (BSC).

EWDD’s JEDI team contacted Lenchita’s owner, Arturo Luna, because he was interested in access to capital for two projects he was working on. Project one was to refinance the building from a variable to a fixed rate ($942K). Project two was to finalize the buildout of the commercial kitchens ($50K). EWDD’s BusinessSource Center partner ICON CDC assisted in packaging and financing both projects, which saved the restaurant by bolstering its cash flow and retaining 17 jobs.

Lenchita’s is located in Council District 7, 13612 Van Nuys Blvd, Pacoima, CA 91331.

EWDD’s BusinessSource Centers offer resources to microenterprises, small businesses and aspiring entrepreneurs in the City of Los Angeles. These efforts work to revitalize the local economy by helping business owners launch viable businesses, grow revenue streams, and stabilize and create jobs. Visit EWDD’s BusinessSource Centers and learn how EWDD's Business Services can help businesses of all sizes.

This story is part of the EWDD UPDATES from August 2023. Read this issue and more.