H’wood showbiz firms get CRA funds

The Los Angeles Community Redevelopment Agency late last week granted $ 1.1 million under its disappearing loan program to eight entertainment-related companies that are either moving to or refurbishing their businesses in Hollywood.

The loans are doled out in increments of up to $ 250,000 in matching funds on an interest-free basis, with 10% of the loan forgiven annually for 10 years as long as the business stays in Hollywood.

The companies included: Johns & Gorman Films, Sunset Gower Studios, Studio Instrument Rentals, Sunset Sound Recorders, Paul Cam Ltd., Hollywood Recording Services, the American Society of Cinematographers and Shoreline Ltd.

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