Local First Arizona Foundation to issue grants to businesses required to close during the pandemic
PHOENIX — The Governor’s Office is partnering with Local First Arizona Foundation to launch the Arizona Small Business Rent and Mortgage Relief Grant program and distribute $10 million in grants to small businesses who have had to shutter their doors during this pandemic. The partnership leverages the grantmaking experience and small business expertise of Local First Arizona Foundation, which has already distributed over $2 million in grant funds to small businesses across the state of Arizona, to continue their work of putting small businesses on a path for recovery.
The Arizona Rent and Mortgage Relief Grant program will begin accepting applications on Aug. 20, 2020, at 10 A.M. on www.localfirstaz.com/azsmallbizrent
Grants will provide up to two months of rent or mortgage payments due by small businesses headquartered in Arizona and which were directly impacted by Executive Order 2020-43, including gyms, fitness centers, bars and nightclubs, indoor movie theatres, water parks, and tubing operators. The maximum award will be $25,000. Grants will be prioritized for businesses that are most in need of the funding to meet their rent or mortgage obligations and do not have access to other financial support.
- Must be doing business in Arizona prior to January 1, 2020.
- Must be directly impacted by Executive Order 2020-43 as outlined above.
- Applicant business must be renting or leasing a physical location outside the owner’s personal residence.
- Employing less than 50 employees (based on W-2s, a full-time employee is equal to 1.0 employee and part-time employee is 0.5 employee).
- Each business owner may only apply for one grant i.e., individuals with multiple locations may not apply for rent at each location.
Businesses can start prepping the following:
- Gathering rent or mortgage statements for June, July, August, September or October (subtract utilities if included).
- Provide information regarding other sources of income for the owner. Preference will be given to businesses which are the primary/sole source of income to the owners.
- Provide an attestation of cash on hand
- Provide an attestation that the business is in good standing with the Arizona Department of Revenue.
ABOUT LOCAL FIRST ARIZONA FOUNDATION:
Founded in 2009 by Executive Director Kimber Lanning, Local First Arizona (LFAF) is a community and economic development organization working to passionately build a diverse, inclusive and prosperous Arizona economy by innovatively connecting people, locally owned businesses, and communities. LFA educates consumers about the interconnectedness of the economy, trains small businesses to be more effective and more competitive, helps larger Arizona businesses and institutions tell their story as champions of Arizona, and creates programs and events that make it fun and easy to discover local businesses and buy local. Visit www.localfirstaz.com for more information and a directory of more than 3,000 locally owned businesses.