Arizona Small Business Grants
Arizona small business grants – Small business grants are the best option for paying staff, purchasing supplies, or marketing goods to boost your business.
However, applying for such grants is not an easy task. You essentially require a decent amount of work and effort.
Also, you are up against other companies applying for the grants. Governments and other organizations that provide grants receive hundreds of applications.
You have reached the proper spot if you believe obtaining grants is challenging.
However, it would help if you were not discouraged because we have listed some small business awards that might increase your chances of being picked.
Small Business Grant: A Small Explanation
Small business grants are monetary assistance to businesses, ranging from $10,000 to $250,000. Generally, these grants are funded by the government and private organizations.
Businesses can use these funds during their startup, company expansion, and research and development.
Compared to business loans and credit cards, business owners do not need to repay the money they receive under the grants.
Moreover, this means that it won’t hurt your credit score if the repayment is not made, and there is no pressure from the lender to return the loan.
However, some limits apply, such as using the money only in the way the grant giver specifies. And if you cannot follow the restriction, you have to pay the penalties.
Arizona Small Business Grants – Look at the Best Available Grants
1. Phoenix RISE Microbusiness Grant
Due to the ill effects of the 2020 Pandemic, the business industry was hit hard. The city of Phoenix is funding a $2 million fund for some of the badly affected small businesses.
This freshly declared grant has been reserved for low- to moderate-income business owners.
The amount a business receives can vary depending on its requirements and eligibility. The minimum sum of money an applicant can receive is $10,000
Phoenix City has engaged with the LISC Phoenix to administer the funding. This award is available to business owners who employ five people and earn less than the regional average.
The funds allocated to company owners under this program must be used solely for business rent, utilities, payroll, supplies, marketing, and other approved expenditures.
For more information, you can visit https://www.phoenix.gov/newsroom/neighborhood-services/1580
2. Maricopa County Small Business/Nonprofit Relief Grants
The county of Arizona is assisting small businesses suffering, especially from the pandemic. The grant is offered in two phases: the 1.0 version in the first phase and the 2.0 version in the second phase.
The money received under phase first will be deducted from the eligible under 2.0. A small business can expect to obtain up to $25,000.
Under Maricopa County, small business/non-profit relief grants a business, whether it is a non-profit/profit cab get this grant. Still, they have to operate in Maricopa County but not in the city of Phoenix.
Furthermore, the number of workers must not exceed 50, and the gross sales must total $5 million between January 1, 2019, and December 31, 2019.
The claimant must additionally prove a 25% decrease in gross sales at the time of application.
For complete information, you can visit here.
3. Somos Uno Resiliency Fund
This grant was created to help small businesses keep their employees on payroll and cover other necessary operating expenses. Under the Somos Uno Resiliency Fund, preference is offered to small-scale businesses.
Especially to those owners who are minorities, females, Ex-officials, disabled, or partners of other underrepresented groups.
And are a resident of economic hardship areas in the City of Tucson. Applicants with the highest need who have not previously received any funding from other programs will also be given preference.
Under the eligibility criteria, the businesses must be within the City of Tucson boundaries (including the City of South Tucson) and have less than 50 workers.
One thing to note here is that funds of up to $10,000 are administered by the YWCA’s Women’s Business Center under this program.
4. Choose Chandler grant
Last but not least is the “Choose Chandler reimbursement grant program.” The coalition of the Economic Development Division and the Industry Development Authority offers the grant.
This grant funds small businesses to purchase personal protective equipment (PPE).
So, a business can apply for a Choose Chandler grant for up to $150 to $450.
According to Chandler Industrial Development Authority, they have spent $200,000 on this initiative.
When applying for the grant, business owners must ensure they have first submitted the receipt of purchases and W9 form.
For complete information, you can visit https://www.chandleraz.gov/government/city-managers-office
The program and grants listed above are suitable options to support your existing business in facing financial hardship. Moreover, you can find additional information at the end of each grant description.
Interactive US Map for Small Business Grants