$1.2M Chain of giving grants California small businesses a second chance

August 6th, 2021, Oakland, Calif. — Over the past 8 months, TMC Community Capital (TMC CC) facilitated $1.2 million in grant funding towards California small business hit hard by the COVID-19 pandemic. Launched in the summer of 2020, TMC CC’s Small Business Big Heart (SBBH) Grant Program initiated a wave of generosity from private donors that made possible 3 additional small business relief programs in 2021.

Jane and Ray Wurwand of the Wurwand Foundation were the first to partner with TMC CC following SBBH. Once small business owners themselves, the Wurwands wanted to help preserve local businesses in Los Angeles County, which had one of the highest business closure rates in 2020 (Yelp). Familiar with the SBBH program that had gained significant traction, the Wurwands decided to collaborate with TMC CC, as well as Pacific Community Ventures, to administer the FOUND/LA Small Business Recovery Fund in December. The program disbursed a total of $1 million across 69 LA-based businesses.

Although the FOUND/LA funding rounds ended in March, the Wurwand’s spirit of solidarity with the small business community lived on. Inspired by FOUND/LA, an anonymous Southern California couple sponsored TMC CC’s Bloom Small Business Grant Program the following month. The program provided $5,000 grants to 20 businesses in Long Beach, Lakewood, Seal Beach, and Los Alamitos.

Most recently, Rasha and Stephanie Drachkovitch of the Drachkovitch Foundation were inspired by both the FOUND/LA and Bloom programs to give back to small businesses in their local neighborhoods:

“As we built our business over the past three decades, our company—and our family—depended upon many of the small businesses—from local delis, coffee shops and shoe stores to dry cleaners, gift shops and nail salons,” wrote the Drakovitches. In June, they partnered with TMC CC to launch the Valley Rising Small Business Grant Program, awarding $10,000 grants to 10 businesses in select cities in the San Fernando Valley.

During this time of continued uncertainty and rebuilding, TMC Community Capital is proud to support small business relief efforts, integral to which are community members like the Wurwands, Bloom donors, and the Drachkovitches.

"Without the aid of organizations such as yourselves, many small businesses would have closed down. We have invested all of our life's savings into this shop, so with your assistance, we can keep our American dream from crumbling apart. Thank you again from the bottom of our hearts," said Raymond Tran of Lovely Nails, one of the Valley Rising grant recipients.