Home News Loans, Grants to Assist Small Companies Impacted by COVID-19 in Downtown Phoenix

Loans, Grants to Assist Small Companies Impacted by COVID-19 in Downtown Phoenix

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Hidden Monitor Cafe & Bottle Store in Downtown Phoenix. (Photograph: Lauren Potter)

Downtown Phoenix companies have been hit onerous by coronavirus-related closures and security measures, however there are a rising variety of assets and reduction packages to show to. The record under may aid you or somebody you already know, so make sure you bookmark it, and share it with a fellow small enterprise proprietor.

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

Loans

SBA Economic Injury Disaster Assistance Loan 

The SBA Financial Harm Catastrophe Help Mortgage is a federal program that gives small companies with working capital loans of as much as $2 million. The Metropolis of Phoenix has ready a helpful video on how to apply for an SBA mortgage.

Paycheck Protection Program Loan

The Paycheck Safety Program is a federal mortgage program designed to supply direct incentive for maintaining employees on payroll. This mortgage is separate from the SBA Financial Catastrophe Loans. How to apply

*As reported by the Business Journal on 4/29, “smaller group banks could also be having a better time in processing and getting small enterprise loans permitted.”

Prestamos CDFI, LLC

Prestamos, a Group Growth Monetary Establishment, is providing COVID microloans of as much as $25,000 with the primary six funds paid straight by the SBA.

Kiva Small Business Loans

Kiva Small Enterprise Loans are managed by a non-public nonprofit offering 0% curiosity loans for U.S. primarily based entrepreneurs.

Opportunity Finance Network

The CDFI community is partnering with Google to launch the Grow with Google Small Business Fund to assist small companies.

Grants

City of Phoenix Covid-19 Funding Grants (Opened May 21, 2020)

The Metropolis has launched three new grant alternatives:

Phoenix Small Business Relief Grants (Round 2)

The Metropolis of Phoenix in coordination with the Phoenix IDA is providing grants as much as $10,000 to native companies and startup firms.

Phoenix Microbusiness Resiliency Grants

The Metropolis of Phoenix is providing grants as much as $5000 to native microbusinesses, solo practitioners and entrepreneurs affected by Covid-19.

APS Customer Support Fund

APS is providing small companies assist via a particular new fund. Present prospects on the Additional Small or Small Enterprise Plans who’re two months or extra late on their invoice can obtain a invoice credit score of $1000.

Hello Alice Small Business Grants and Resources

Hi there Alice, a free platform to assist launch and develop enterprise, is providing $10,000 grants to be distributed instantly to small enterprise homeowners impacted by coronavirus.

BBB Main Street Matters Grant

This grant from the Higher Enterprise Bureau will now accepting purposes. Precedence shall be given to companies with 5-20 staff and people which might be BBB accredited.

Salesforce Care Small Business Grants

Salesforce has introduced a $3M small enterprise grant program that may present $10,000 to 300 for-profit small companies.

Further assets and useful instruments

Obtain customized, one-on-one enterprise technical help and assist navigating payroll, HR, authorized, finance and mortgage purposes at The Greater Phoenix SCORE, your native SBDC workplace or Local First Arizona. 

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

Small enterprise assets and knowledge might be discovered on the Metropolis of Phoenix’s Business and Resident Resource web page and at Downtown Phoenix Inc.’s dedicated COVID-19 response web page.

CBIZ Resource Center and How to Apply for SBA Loans

Arizona Commerce Authority Business Resources

Local First Arizona Webinars for your Business

Concentrate on scams

We encourage you to additionally bear in mind that there are already some COVID-19 scams taking place. Please watch out with any e-mails you obtain promising help or with uncommon hyperlinks or sender e-mail addresses. Beware of those scams and excessive curiosity loans.