More grants are available for micro and small businesses after Phoenix City Council allocated $ 8 million in federal funding from the American Rescue Plan Act of 2021.
Companies with no more than 25 employees can apply for grants. Depending on the number of employees and the location of the business, the grants range from $ 3,000 to $ 15,000.
The money can be spent on expenses such as payroll, rent, insurance, inventory, and utilities. Businesses must have been in Phoenix for at least a year and have lost 25% in revenue due to the pandemic.
Eligible businesses located in low-income census areas may receive additional cash. Phoenix has 129 qualified census areas, defined as areas where half of households have incomes less than 60% of the Maricopa County’s median gross income of about $ 69,000 per year, or a poverty rate of 25% or more.
“We want small businesses to use the money to get back into our growing Phoenix economy, and our grant program gives each individual business owner the flexibility to determine what he or she needs to get back on track “Said Mayor Kate Gallego in a press release. “We opened PHXbizGrants to help small businesses with the greatest possible flexibility.”
Phoenix hired the Arizona Community Foundation and Local First Arizona to process grant applications. Please visit Phoenix.gov/PHXbizGrants for more information, including a link to the Grant Application Form. Business owners can send an email for more help [email protected] or call 602-777-7636.