Small, neighborhood businesses are the backbone of our community, but they have been hit hard by COVID-19. The city of Phoenix is mobilizing $2 million of federal funds to be distributed to some of the hardest hit of the small neighborhood businesses. The newly announced funds for the Phoenix RISE Microbusiness Grant are reserved for business owners in low-and moderate-income households. Eligible businesses can receive up to $10,000 to help keep them operating during this difficult time.
Nationally, nearly 13 million or approximately half of all microbusiness owners earn less than $50,000 annually and are considered low-and-moderate-income households, according to the Prosperity Now Washington-DC non-profit group.
“We are proud to partner with Local Initiatives Support Corporation (LISC) one of Phoenix’s largest community development organizations,” said Spencer Self, city of Phoenix Neighborhood Services Director. “The City Council has made grants available to assist microenterprise businesses and help alleviate the negative-effects by COVID-19 and stabilize and preserve low- and moderate-income microenterprises.”
The city of Phoenix has contracted with LISC Phoenix to administer the fund and application process. Owners of businesses that have up to 5 employees and where the business owner’s household falls below regional income standards. Click here to see if your income qualifies. These funds can be used on the business rent, utilities, payroll, supplies, marketing or other eligible expenses. Click here for a full list.
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