Rick Caruso’s Wildfire Nonprofit Offers Grants to Businesses

Businessman and former mayoral candidate Rick Caruso is coming to the aid of Los Angeles wildfire victims with a new Small Business Initiative.

Caruso’s Steadfast L.A. nonprofit announced the effort to financially help retailers, restaurants and other independent businesses in Altadena, Malibu and the Pacific Palisades impacted by the Eaton and Palisades fires, according to a press release.

Banc of California is supporting the endeavor with a $1 million donation from its Wildfire Relief & Recovery Fund. Steadfast L.A. will provide additional financial support and is soliciting more donations. Business owners affected by the fires will be able to receive direct grants of up to $50,000 to assist in rebuilding efforts, per The Hollywood Reporter.

Caruso, who owns several mall properties in the Los Angeles area, spoke about the importance of small businesses when revealing the initiative, noting that they account for more than 90 percent of all businesses in Los Angeles County.

“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,” Caruso said, per the press release. “We cannot abandon them. This is about ensuring they have the tools, resources and support they need to come back.”

Caruso said he also hopes that the initiative will send “a broader signal that not only are these local institutions going to reopen, but these communities as a whole have a bright and optimistic future ahead.”

“These businesses aren’t faceless storefronts. They are the fabric of the community,” Caruso added. “They are made up of people: owners, employees and loyal customers. They deserve an advocate to help address the challenges they’re facing through no fault of their own. Through this initiative, they’ll have one.”

Since January’s deadly wildfires, Caruso has been working to assist small business owners with recovery. In May, he confirmed his charred Palisades Village shopping center at the heart of the Palisades fire burn zone is slated for reopening next year. Displaced businesses in the Palisades Village area like fashion designer Alice Walker’s boutique are gearing up to open up shop at the mall.

Small businesses looking to receive a grant from Steadfast L.A.’s initiative can submit information on the nonprofit’s website. Applications will be reviewed on a rolling basis with grant recipients being announced shortly thereafter.

In addition to the new initiative, Steadfast L.A. has come to the rescue of wildfire-affected residents with pre-fabricated homes and artificial intelligence software designed to expedite rebuilding.