Up to $15,000 grants are still available for Phoenix small business owners

Micro and small businesses in Phoenix can apply for a much-needed cash infusion, and they do not have to pay back
Published: Apr. 6, 2022 at 6:48 AM MST
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PHOENIX (3TV/CBS 5) -- Phoenix is now top five in the U.S. in small business wage gains. Wages increased from last year by 5.11% to $29.70. Overall, our metro area also made the top ten list.

The City of Phoenix reminds small business owners that there is still plenty of money left from the City’s COVID-19 relief grants. About $2 million are still available. PHXbizGrants started last year to help micro and small businesses impacted by the COVID-19 pandemic.

Businesses can get anywhere from $3,000 to $15,000, and the stipulations on what you can use the money on are pretty broad. Grant money covers any business expense that’s a “deductible expense” listed by the IRS. The grant became available in late November, and since then, the City has helped 800 businesses by awarding about $5 million.

Bob Daquilante owns Accram, one of the City’s first I.T. companies. He used the money to help retain his staff during the worker shortage by upgrading medical insurance for all 22 of his employees. He now covers nearly all of their insurance premium.

“I’ve been in business for 40 years. I don’t think of myself first. Customer-first, [then] employees are right up there with the customer. As the CEO, I’m at the bottom,” said Daquilante.

Businesses must have operated in Phoenix for at least one year. They need to show at least a 25% loss of revenue due to the pandemic. City officials say applications are being accepted until Apr. 15 or until the money runs out. For more information to see if you qualify, click here.