# Los Angeles Expands Contractor Financing

On October 1, 2026, Los Angeles Mayor Karen Bass announced an expansion of the city’s Contract Financing Program, which is backed by **$1 million from Banc of California**. Eligible Los Angeles businesses can now seek financing for contracts with any government entity or contracts tied to upcoming sports and entertainment events in Los Angeles County. The expansion is intended to help small businesses cover upfront costs, including those preparing to pursue opportunities connected to the 2028 Olympic and Paralympic Games.

- The expanded eligibility connects the financing program to a broader range of government contracts, not only city contracts, as well as local sports and entertainment procurement.
- Small businesses can review program eligibility and use the financing to address upfront contract costs; the signal does not specify application deadlines or financing terms.
- The city reports that local and small businesses have secured more than $45 million through ProcureLA, providing context on the city’s existing supplier-access efforts.

**Jurisdictions:** sled
**Topics:** Grants & Funding
**Published:** October 02, 2026

### Government Entities
- City of Los Angeles (City of L.A.)

### Vendors
- Banc of California (Program financier)

### Key Quotes
> With the 2028 Games expected to bring $40 billion in economic opportunity to Los Angeles, we’re ensuring our small businesses win big on the world stage.
> — Karen Bass, Mayor of Los Angeles

### Sources
- [Mayor Bass Expands Access to Capital Program for Olympic & Paralympic Contracts Alongside Magic Johnson at Third Annual Sports and Entertainment Procurement Summit | Mayor Karen Bass](https://mayor.lacity.gov/news/mayor-bass-expands-access-capital-program-olympic-paralympic-contracts-alongside-magic-johnson) - LA