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Business Interruption Fund
About
What is Metro’s Business Interruption Fund?
Metro’s Business Interruption Fund (BIF) provides financial assistance to small “mom and pop” businesses located along the Crenshaw/LAX Transit Project, the Little Tokyo area and the 2nd/Broadway segment* along the Regional Connector and Section 1, Section 2 and Section 3 of the Purple Line Extension, and the East San Fernando Valley Light Rail Transit Project that are impacted by transit rail construction. Metro’s goal is to help small businesses continue to thrive throughout construction and post construction. The BIF is a demonstration of Metro’s commitment to being a trusted community builder, partner and stakeholder.
Metro’s BIF is administered as a pilot program in partnership with Pacific Coast Regional Business Finance (PCR).
What is the purpose of the Business Interruption Fund?
Transit rail construction can mean growth opportunities for small “mom and pop” businesses located along transit corridors; however, transit construction also can be challenging for small businesses. With the establishment of the BIF, Metro can provide financial assistance to directly impacted small “mom and pop” businesses through grants to cover certain fixed operating expenses.
What amount of financial assistance can an impacted business receive?
Metro’s Board of Directors authorized the Agency to designate $10 million annually to be used for implementation of the Business Interruption Fund. Businesses may file multiple requests for financial assistance through the BIF; but in no event will the amount paid exceed the lesser total amount of $50,000, or 60% of annual business revenue losses per business. The financial assistance covers fixed operating expenses such as:
- Utilities
- Insurance
- Rent or Mortgage
- Payroll
- Other types of eligible documented business-related expenses may be considered by the program administrator.
- Commercial property owners may file, however; property owners may only file a claim for mortgage, utilities, insurance, and other expenses as determined by the program administrator.
Note: Residential property owners are not eligible to apply.
* Segment eligibility based on full street closure with duration greater than six continuous months.
Eligibility
How do businesses know if they are eligible to receive funds?
Metro has developed Administrative Guidelines for the BIF. There are various established guidelines and provisions. Some key provisions include that businesses must be:
1. Directly impacted by a relevant Metro Construction project.
- Crenshaw/LAX Transit Project
- Regional Connector, Little Tokyo area and the 2nd/Broadway segment*
- Purple Line Extension Section 1, Section 2 and Section 3
- East San Fernando Valley Light Rail Transit Project
2. Located within the eligible geographic area.
- Businesses must be immediately adjacent to a transit rail corridor. This refers to a business whose property line abuts or faces the rail corridor or a designated construction staging or construction storage area, including a business located in a mall or strip-mall that is similarly situated.
3. Meet the definition of a small “mom and pop” business.
- Small business for the purposes of the BIF is defined as a for-profit business or non-religious, non-profit with 25 or fewer full-time employees.
4. Meet the technical qualifications to participate in the program, which include:
- Eligible businesses must be in continuous operation for at least two years along the corridor.
- Eligible businesses must have the ability to provide financial records (e.g. gross receipts, payroll taxes, bank statements or other financial information).
- Businesses must be solvent.
- Businesses must be in good standing with all local, state and federal taxing and licensing authorities.
5. Demonstrate a loss of business revenue directly related to the period of construction disruption.
There are various established guidelines and provisions for types of businesses ineligible to participate in the BIF.
*Segment eligibility based on full street closure with duration greater than six continuous months.
How to Apply
How do I apply for financial assistance through the Business Interruption Fund?
There are “Four Easy Steps” to apply to the BIF:
Step 1. Visit the PCR website at pcrcorp.org , then click on the Metro icon and follow the instructions.
Step 2. Complete and submit the online application.
Step 3. Schedule an appointment with a Business Advisor. The Business Advisor will contact you directly within two business days of submitting your application.
Step 4. Collect the required financial documents needed for your application. Your Business Advisor will assist you in this process as needed.
It’s that simple! Applicants can also contact Bryan Miyamoto, Program Manager, at 213.640.4627
Resources
Quarterly Status Reports
2021
- BIF Status Report 2021 Q4
- BIF Status Report 2021 Q3
- BIF Status Report 2021 Q2
- BIF Status Report 2021 Q1
2020
- BIF Status Report 2020 Q4
- BIF Status Report 2020 Q3
- BIF Status Report 2020 Q2
- BIF Status Report 2020 Q1
2019
- BIF Status Report 2019 Q4
- BIF Status Report 2019 Q3
- BIF Status Report 2019 Q2
- BIF Status Report 2019 Q1
2018
- BIF Status Report 2018 Q4
- BIF Status Report 2018 Q3
- BIF Status Report 2018 Q2
- BIF Status Report 2018 Q1
2017
- BIF Status Report 2017 Q4
- BIF Status Report 2017 Q3
- BIF Status Report 2017 Q2
- BIF Status Report 2017 Q1
2016
- BIF Status Report 2016 Q4
- BIF Status Report 2016 Q3
- BIF Status Report 2016 Q2
- BIF Status Report 2016 Q1
2015
Latest News
Useful Links
- Metro Projects
- Pacific Coast Regional Business Finance (PCR)
- BSC Website (Coming Soon)
- Little Tokyo Business Assistance Center
- Crenshaw/LAX Transit Project
- Regional Connector Transit Project
- Purple Line Extension
- East San Fernando Valley Light Rail Transit Project
- Metro Vendor Portal
Contact Us
BIF Program Contact
For information about the BIF Program, email bif@metro.net or contact Metro staff directly.
Angela Winston
Director, Business Interruption Fund, 213.518.0884
BIF Application Contact
For information about the BIF application process and/or to apply, contact:
Bryan Miyamoto
Program Manager, 213.640.4627
Website: pcrcorp.org
