Phoenix — Local First Arizona is launching a new initiative that will provide immediate financial relief to Arizona’s microenterprises with mini-grants to cover costs like employee payroll and rent. Immediate cash flow, not loans, will be available to keep the Arizona economy afloat.
|Any individual or company interested in helping family-owned businesses can contribute to the fund at www.localfirstaz.com/small-business-relief-fund.
On a rolling basis, regional review panels form northern, central, and southern Arizona made up of local business owners will review applications.
“It’s a devastating and uncertain time to be a small business owner in Arizona. Everything you love is on the line, but the community you’re ingrained in is still at top of mind. We are echoing the voices of small businesses across the state: debt is not a solution for our smallest businesses. We ask others to join us, the health of our local economy and state depend on it,” says Local First Arizona Founder Kimber Lanning.
“As a small business, we have very low cash buffers which leaves us facing a race against the financial battle for survival,” says Pop Cycle’s co-owners DeeDee Koenen, Shannon Riggs, and Jennifer Radler in Tucson.
Business Qualifications For Assistance:
- 0-3 employees
- Less than $250,000 in annual revenue (approximately $35k-$45k in net profits)
- Priority will be placed on business owners with children under 18 at home
- Families reliant on the business as their sole income
- Only one application per business will be accepted for the Small Business Relief Fund.