Local First Arizona launches small business relief fund
As Congress today passes a federal Coronavirus relief package, Local First Arizona launches 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 keep the backbone of the Arizona economy afloat and looking forward to a stronger tomorrow.
“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.
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.
“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.
SRP’s sponsorship will benefit small businesses in the areas they service. Additional sponsors include local business Iconic Cocktail Co. and others.
Learn more about other ways to support local businesses: www.localfirstaz.com/smallbusinesssupport
Consumers hoping to support our small businesses directly can find the latest deals at www.localfirstaz.com/covid19