$1.2 Million in CARES Act Funding to Boost Economic Development Programs in Arizona

U.S. Economic Development Administration

U.S. Secretary of Commerce Wilbur Ross announced that the Department’s Economic Development Administration (EDA) is awarding $1.2 million in CARES Act Recovery Assistance grants to three EDA Economic Development District organizations across Arizona to update economic development plans and fortify programs to assist communities in responding to the coronavirus pandemic. “The … [More]

Scottsdale City Council Approves Arts and Culture Coronavirus Grant Program

Scottsdale Arts

The Scottsdale City Council has approved $1.5 million from the city’s Federal CARES Act funding to help nonprofit arts and culture organizations affected by the coronavirus pandemic. Grant funding will support programming and safe, alternative facilities reopening. “Scottsdale has always appreciated and supported arts and culture activities – they’re a vital part of our … [More]

Ducey Asks for Extended Unemployment, Utility Assistance, Liability Protection

State of Arizona Office of the Governor

Governor Doug Ducey sent a letter to the Arizona Congressional Delegation providing his input on the next phase of the COVID-19 relief package being discussed in Congress. In the letter, the Governor requested an extension of the Federal Pandemic Unemployment Compensation, which is set to expire this month. In addition to discussing unemployment assistance, the Governor also … [More]

Streamlined Forgiveness for Smallest PPP Recipients Has Bipartisan Support

Rick McCartney

Treasury Secretary Steven Mnuchin last week indicated he would support a bipartisan effort being led by Sens. Cramer, Menendez, Tillis and Sinema for streamlined forgiveness for Paycheck Protection Program loans for the smallest loan recipients. The most recent coverage on the need for simplified PPP forgiveness for mom-and-pop small businesses is below: A bill that would … [More]

$300,000 in CARES Act Funding to Boost NAU’s Capacity amid Pandemic

U.S. Department of Commerce Economic Development Administration

The U.S. Department of Commerce’s Economic Development Administration (EDA) is awarding a $300,000 CARES Act Recovery Assistance grant to Northern Arizona University, Flagstaff, Arizona, to boost their capacity to support regional economic development strategies in response to the coronavirus pandemic. “The Trump Administration is eager to allocate these essential CARES Act … [More]

Main Street Lending Program Modified to Provide Credit for Nonprofits, Education, Hospitals, and Social Services

Federal Reserve Board

The Federal Reserve Board on Friday modified the Main Street Lending Program to provide greater access to credit for nonprofit organizations such as educational institutions, hospitals, and social service organizations. As detailed in term sheets released today, the Board approved two new loan options to provide support to a broad set of nonprofit organizations that were in … [More]

Nonprofit Lending Division Receives $55 Million New Markets Tax Credits Award

Chicanos Por La Causa

Prestamos CDFI, Chicanos Por La Causa’s mission-driven lending division, has been awarded $55 million in New Markets Tax Credits (NMTC) from the U.S. Department of the Treasury’s Community Development Financial Institutions (CDFI) Fund. Prestamos is a leading Community Development Entity that provides capital and business education to businesses and community facility projects … [More]

First Responders Get Mental Health Support from Crisis Fund

State of Arizona Office of the Governor

Governor Doug Ducey today announced $120,000 for Heal the Hero Foundation, supporting its work to mitigate the mental health impacts facing first responders during COVID-19. Heal the Hero Foundation offers technology-based mental health support—along with community education, research and training—for veterans, first responders and abuse survivors. The foundation also provides … [More]

SBA Provided $20 Billion to Small Businesses and Nonprofits, EIDL Program to End

U.S. Small Business Administration

The U.S. Small Business Administration announced the conclusion and success of the Economic Injury Disaster Loan (EIDL) Advance program, which provided U.S. small businesses, non-profits and agricultural businesses a total of $20 billion in emergency funding. In order to assist the greatest number of small businesses, the EIDL Advance provided $1,000 per employee up to a … [More]

Up to $10,000 Grants Available to Qualifying Small Businesses, Only Certain Cities Eligible

by Mike Hunter

The Maricopa County Board of Supervisors has created a new $23 million COVID-19 business relief program. Small businesses, home-based businesses, mobile businesses and non-profits are eligible for up to $10,000 grants to reimburse businesses for expenses and losses. Applications will be accepted from July 9 through July 31, 2020. "This grant program will truly make a … [More]