The Small Business Financial Assistance Program (SBFAP) along the South Central Extension/Downtown Hub and Northwest Extension Phase II light rail projects has hit a major milestone in delivering more than $1M in grants to small, locally-owned businesses along those corridors.
Since the program’s launch in early 2021, more than 180 grants have been awarded to eligible businesses to support them through the construction phase and lay the groundwork for their continued success during future operations.
The SBFAP is a program that Valley Metro and the city of Phoenix created with significant community feedback and financial backing from Phoenix Transportation 2050 (T2050) and the Phoenix Community Development and Investment Corporation.
“Small businesses are the heart and soul of Phoenix,” said Phoenix Mayor Kate Gallego. “Not only do they power our thriving local economy, but they also enrich our city’s culture and history. By ensuring they have the support they need during light rail construction, we are putting our community and entrepreneurs at the forefront of Phoenix’s growth.
“The light rail connects people, communities and businesses — which is why I’m thrilled that Valley Metro and the City of Phoenix are committed to offering financial support to businesses for the duration of light rail construction,” said Phoenix Vice Mayor Yassamin Ansari, District 7. “With $1 million provided to local businesses thus far, more help is available to ensure the resilience and growth of some of our smallest and local businesses along construction.”
“Surpassing the one million mark is an important milestone for our projects and the neighboring community who spurred this program,” said Jessica Mefford-Miller, Valley Metro CEO. “By providing this critical financial support, we are making a direct investment in our business community who will serve as future destinations when we open the system. Our riders and their employees will benefit from access to these businesses via this new rail extension.”
“It helped me a lot with my rent when we needed the most help,” said Albert Bahram, owner, Crazy Jim’s restaurant. “During COVID-19 we were very slow and when Valley Metro started helping small businesses like mine, it was a huge deal to us.”
In addition to the SBFAP, Valley Metro offers a number of free business assistance programs including business consulting, hosting community events, marketing assistance and signage. More than 450 businesses along the two corridors have participated in one or more elements of these business programs to date.
The program, which is now in its third year, continues to offer direct financial assistance to small businesses located along our two active light rail construction corridors in Phoenix.
New applicants and those who have received funding in the past can still apply for up to $9,000 annually, contingent upon their eligibility. To view eligibility requirements and apply here.
