Los Angeles–Mayor Eric Garcetti was joined by Deputy Secretary of the Treasury Wally Adeyemo today at BCD Tofu House in Koreatown to highlight the impact of federal assistance on a local restaurant and the importance of the American Rescue Plan to small businesses across the city.
During the visit to BCD Tofu House’s Wilshire location, the Mayor and the Deputy Secretary met with the restaurant’s owner, Eddie Lee, who talked about how receiving more than $1 million in PPP loans helped keep the staff on the payroll, the power on, the nearby community served and customers fed.
Together, the group discussed how the Biden Administration’s policies and leadership have enabled small businesses to navigate the choppy waters of the pandemic, stay afloat, sustain jobs, and chart a clear course toward a lasting economic recovery.
Beyond loans and other support for businesses, workers, and families, the American Rescue Plan will deliver over $1.2 billion in direct aid to the City of Los Angeles — to empower local officials to respond to the impacts of COVID-19, restore vital public services, create jobs, and invest in critical infrastructure.
