PHOENIX (3TV/CBS 5) — Local businesses in Maricopa County can receive up to $25,000 through a new stability grant. To qualify, a business must have under 50 employees and prove a 25% loss in revenue due to the pandemic.
The $20 million grant is allocated from the American Rescue Plan. The Maricopa County Small Business Resilience Program, Local First Arizona, in partnership with the Arizona Community Foundation, are facilitating the grant distribution.
"In just the first day, we've had about 60 businesses start and put through their applications," says Thomas Barr, the vice president of Business Development for Local First Arizona.
Barr says applications will be accepted through the end of March, but he encourages people to apply now because he suspects the money will go fast. After an application is accepted, Barr says the money will be given to the business owner in 15 days. For more information click, here.