Loans, Grants to Help Small Businesses Impacted by COVID-19 in Downtown Phoenix

by Sara Scoville-Weaver
Business Development Sara Scoville-Weaver March 22, 2021

Hidden Track Cafe & Bottle Shop in Downtown Phoenix. (Photo: Lauren Potter)

Downtown Phoenix businesses have been hit hard by coronavirus-related closures and safety measures, but there are a growing number of resources and relief programs to turn to. The list below could help you or someone you know, so be sure to bookmark it, and share it with a fellow small business owner.

Please contact Sara Scoville-Weaver at sscovilleweaver@dtphx.org with questions.

City of Phoenix Temporary Outdoor Dining Program

Check out this new program to help businesses in Phoenix create or add outdoor dining without the normal permitting fees and use our handy “tip” sheet if you need any further assistance.

State of Arizona “Safest Outside” Restaurant Assistance Program

Restaurants or bars with an approved extension of premises permit under the Emergency Declaration can now apply for up to $10,000 to help fund the costs of outdoor patio equipment and materials. Apply HERE.

Shuttered Venue Operators Grants – Opens April 8, 2021

As part of the most recent Economic Aid Act, eligible grant entities may be live venue operators or promoters, theatrical producers, live performing arts organization operators, museum operators, motion picture theater operators, and talent representatives. Learn more and apply HERE. 

Loans

SBA Economic Injury Disaster Assistance Loan 

The SBA Economic Injury Disaster Assistance Loan is a federal program that provides small businesses with working capital loans of up to $2 million. The City of Phoenix has prepared a useful video on how to apply for an SBA loan.

Paycheck Protection Program Loan Round 2 (Guidance Released 1/11/2021)*

The Paycheck Protection Program is a federal loan program designed to provide direct incentive for keeping workers on payroll. This loan is separate from the SBA Economic Disaster Loans. How to apply

PPP Round 2 differs in several ways from PPP Round 1. Please refer to the latest guidance on how and when to apply HERE.

Prestamos CDFI, LLC

Prestamos, a Community Development Financial Institution, is offering COVID microloans of up to $25,000 with the first six payments paid directly by the SBA.

Kiva Small Business Loans

Kiva Small Business Loans are managed by a private nonprofit providing 0% interest loans for U.S. based entrepreneurs.

Opportunity Finance Network

The CDFI network is partnering with Google to launch the Grow with Google Small Business Fund to support small businesses.

Grants

Valley Metro Small Business Grant

Valley Metro and the City of Phoenix, in conjunction with Prestamos CDFI, are currently accepting applications for the Valley Metro Small Business Financial Assistance Program Pilot.

This pilot provides either $3,000 or up to $9,000 in financial assistance to locally owned, small businesses that are located immediately adjacent to the South Central Light Rail Extension and Downtown Hub.

This pilot is intended to assist businesses with 15 or fewer employees and $500,000 or less in annual revenue. We strongly recommend taking a look at the eligibility requirements for this program before applying as certain small businesses may not qualify.

LISC Small Business Grants

This new grant offers up to $10,000 in funds to owners of businesses with up to 5 employees and where the business owner’s household income falls below regional income standards. Update November 2020* — Application has closed but please subscribe HERE to be notified of future rounds of funding.

APS Customer Support Fund

APS is offering small businesses help through a special new fund. Current customers on the Extra Small or Small Business Plans who are two months or more past due on their bill can receive a bill credit of $1000.

BBB Main Street Matters Grant

This grant from the Better Business Bureau will now accepting applications. Priority will be given to businesses with 5-20 employees and those that are BBB accredited.

Salesforce Care Small Business Grants

Salesforce has announced a $3M small business grant program that will provide $10,000 to 300 for-profit small businesses.

Additional resources and helpful tools

Receive personalized, one-on-one business technical assistance and help navigating payroll, HR, legal, finance and loan applications at The Greater Phoenix SCORE, your local SBDC office or Local First Arizona. 

Governor Ducey’s executive order halting evictions for small businesses and nonprofits. The order in Spanish.

Small business resources and information can be found at the City of Phoenix’s Business and Resident Resource page and at Downtown Phoenix Inc.’s dedicated COVID-19 response page.

CBIZ Resource Center and How to Apply for SBA Loans

Arizona Commerce Authority Business Resources

Local First Arizona Webinars for your Business

Be aware of scams

We encourage you to also be aware that there are already some COVID-19 scams happening. Please be careful with any e-mails you receive promising assistance or with unusual links or sender email addresses. Beware of these scams and high interest loans.

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