Banc of California and Steadfast LA Launch Initiative to Support Wildfire-Affected Small Businesses in Los Angeles

Steadfast LA and Banc of California have partnered to support small businesses impacted by recent wildfires in LA communities. A $1 million donation from Banc of California's Wildfire Relief & Recovery Fund will provide grants of up to $50,000 to affected businesses in Altadena, Malibu, and Pacific Palisades. The initiative aims to bolster recovery efforts for independent businesses, which comprise over 90% of all businesses in LA County.

Steadfast LA, a civic nonprofit organization, and Banc of California have joined forces to launch a $1 million initiative aimed at supporting small businesses in Los Angeles communities affected by recent wildfires. The initiative, announced on August 6, 2025, will provide direct grants of up to $50,000 to eligible businesses in Altadena, Malibu, and the Pacific Palisades.

The initiative, supported by a $1 million donation from Banc of California’s Wildfire Relief & Recovery Fund, is designed to help retailers, restaurants, and other independent businesses reopen and resume operations. Small businesses can apply for grants online, with applications reviewed on a rolling basis and recipients announced shortly thereafter.

Rick Caruso, founder and chairman of Steadfast LA, emphasized the importance of supporting these businesses, stating, “These small businesses were about much more than commercial or economic activity. They were local hallmarks that gave neighborhoods their soul and fostered a sense of community. We cannot abandon them” [2].

In addition to financial support, Steadfast LA will use social media to highlight the resilience of these businesses, their additional needs, and encourage consumers to support them. Banc of California, the largest independent bank based in Los Angeles, is committed to supporting small businesses, recognizing their integral role in the local economy and community.

The initiative is part of Banc of California’s broader commitment to supporting small businesses, following their recent donation to the LA Area Chamber of Commerce’s Small Business Disaster Relief Fund and the creation of the Wildfire Relief & Recovery Fund.

References:
[1] https://secretlosangeles.com/new-grant-in-la-county-to-help-small-businesses-impacted-by-wildfires/
[2] https://www.morningstar.com/news/business-wire/20250806107678/steadfast-la-launches-initiative-with-banc-of-california-to-help-rebuild-reopen-and-support-small-businesses-in-wildfire-impacted-communities
[3] https://www.hollywoodreporter.com/news/local-news/rick-caruso-steadfast-la-fire-recovery-banc-of-california-1236338760/