Violet “Vee” Cristobal, owner of Cristobal & Company CPAs
The Central West BusinessSource Center (BSC) helped long-term client Violet “Vee” Cristobal, owner of Cristobal & Company CPAs, obtain a $92,000 Payroll Protection Program (PPP) loan, which will enable her to keep her business open and keep her eight employees on staff during the COVID-19 crisis.

When Vee realized that she needed business assistance during COVID-19, she turned to Central West BSC Business loan counselor Redy Babasa-Thompson.

Redy analyzed the financial situation of Vee’s firm and explained how federal COVID-19 loan programs such as the Payroll Protection Program (PPP) and Economic Injury Disaster Loan (EIDL) could help Vee sustain her eight staff and address the substantial influx of new referrals to her business.

With the BSC’s assistance, Vee obtained a $92,000 PPP Loan in the first round of funding and she was able to keep her eight employees on staff. After successfully working with the BSC several years ago, Vee also began referring Cristobal & Company CPAs clientele to the Central West BSC for business assistance.

To learn more about the Payroll Protection Program (PPP) and Economic Injury Disaster Loans (EIDL), please visit our LA CARES Corps webpage. LA CARES Corps is a partnership between the City and County of LA to provide small businesses with the help they need to apply for federal loans under the CARES Act.

If you have been impacted by the COVID-19 outbreak, EWDD wants to help. Many residents of the City of Los Angeles have been negatively impacted by COVID-19. Many are faced with job loss or are struggling to keep their businesses operational. Even as all Californians are asked to limit outside activities beyond what is absolutely necessary, the City of LA and EWDD are diligently working to provide crucial services and programs. Please visit our COVID-19 Resources page to learn more. We're here to help.

This story is part of the EWDD UPDATES from the week of May #, 2020. Read this issue and more.