Grant Program Targets Phoenix Businesses In Low-Income Areas
The city of Phoenix and the nonprofit Phoenix IDA are offering $10,000 relief grants to small businesses affected by the economic slowdown caused by the coronavirus pandemic.
To qualify, businesses must have fewer than 25 employees, have gross total sales of under $3 million in 2019, and be located in a low-income neighborhood.
“What we’ve heard is our low-income areas are having the most difficult time getting access to money to get through COVID-19," said Phoenix Mayor Kate Gallego.
The goal is to help businesses keep employees on their payroll and cover other operating costs.
Businesses can apply online now through the Arizona Community Foundation website.
“We’re looking at beginning the process as quickly as possible to review the grants so that we can get the money out as quickly as possible as well," said Christa Severns with Phoenix IDA.
About 200 grants will be given out.