Rick Caruso’s Steadfast LA Launches Small Business Initiative to Support Wildfire Recovery
Steadfast LA, a nonprofit organization founded by civic leader and businessman Rick Caruso, has unveiled a new Small Business Initiative aimed at rebuilding areas of Los Angeles impacted by recent wildfires. With an initial $1-million donation from Banc of California’s Wildfire Relief & Recovery Fund, the initiative seeks to support small retailers, restaurants, and other independent businesses in Altadena, Malibu, and the Pacific Palisades affected by the Eaton and Palisades Fires.
The program will provide direct grants of up to $50,000 to help these local businesses recover and reopen their doors.
Caruso announced the initiative at CNBC’s Small Business Playbook 2025 event, where he was joined by Gordon and Shirley Wong, owners of Knoll’s Pharmacy in the Palisades — a long-standing community business that was tragically destroyed in the fire. Highlighting the importance of these enterprises, Caruso emphasized their critical role in the local economy.
“These small businesses were about much more than commercial or economic activity,” said Caruso. “They were local hallmarks that gave neighborhoods their soul and fostered a sense of community. We cannot abandon them. This is about ensuring they have the tools, resources, and support they need to come back.”
Steadfast LA’s initiative is a clear call to action for the involvement of private-sector partners in recovery efforts, reinforcing the message that thriving local businesses are essential to the identity and vitality of Los Angeles communities.
