The Office of Governor Doug Ducey and Local First Arizona Foundation are launching a Small Business Rent and Mortgage Relief Grant program today to distribute $10 million to businesses who have had to shutter their doors during the pandemic.
The foundation, which has already distributed more than $2 million in grants to small businesses across the state, began accepting applications for the new program this morning. Interested businesses can learn more and apply here.
Grants will provide up to two months of rent or mortgage payments for small businesses headquartered in Arizona that were directly impacted by Governor Doug Ducey’s Executive Order 2020-43. That order closed numerous businesses due to the pandemic, including gyms, fitness centers, bars and nightclubs, indoor movie theaters and water parks. Applying businesses must have less than the equivalent of 50 full-time employees (a part-time worker counts as half an employee).
The maximum award will be $25,000 and grants will be prioritized for businesses that are most in need of funding for rent or mortgages and do not have access to other financial support.
The pool of $10 million is being made available through the state’s Crisis Contingency and Safety Net Fund. This grant program can be expanded by any city or county government with funds available to contribute to it. Additional funds from local governments would be earmarked for eligible small businesses within that local government’s jurisdiction.
With the ending of the Paycheck Protection Program earlier this month and no new federal relief on the horizon, efforts like this partnership between the state and Local First Arizona are a welcome relief for small businesses as they navigate through the uncertainty caused by COVID-19.