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Your business may have lost substantial revenue in 2023 due to COVID-19. Communities, families, and small businesses benefit from this program. We hope to encourage small business growth and uplift the communities in Arizona through information and resources.
There are $14.48 billion in grants in Arizona and $12.99 billion in additional funding sources from the local government. These funds contribute to Arizona’s economic growth by supporting eligible businesses and large corporations. In Arizona, there are 104,191 businesses and more than 16,000 farms. Small business grants can help hire more employees, purchase equipment, expand marketing campaigns, or bridge cash flow gaps when customers default.
Payroll and salaries alone amount to $82.94 billion in Arizona. The state records more than 40,677 bankruptcy filings each year. Federal government grants cannot be used to start or expand a business. If you are looking for funding for your business, you might want to apply for a small business grant.
What Is A Grant?
New products, services, and projects often receive grants from public agencies. The benefit of grant programs is that small businesses don’t have to repay the money. Grants can provide low-cost growth, even though they take time and effort to secure and administer. Grant applications are complex and lengthy. To be considered for a small business grant, you must show financial capability. Charities, foundations, and local governments offer funding opportunities in the form of grants.
Arizona Small Grants
There are a variety of grants available to Arizona residents. Businesses may be interested in this list of grants for 2023.
AZ Small Business Association’s (ASBA) Growing Opportunities Grant received $925,000 from Governor Ducey. Program participants can launch their businesses with training, mentorship, resources, and support from the grant.
A joint program led by the Arizona Department of Forestry and Fire Management and the Arizona Department of Corrections, Rehabilitation & Reentry removes hazardous vegetation. It clears Arizona’s forest floor of debris through inmate work crews. By teaching state inmates job skills, the initiative aims to reduce recidivism.
ASBA also established the Small Business Relocation Grant Program with $650,000 from Governor Ducey. A small business can use the grants to expand, defray the costs associated with moving, and establish a presence in the state.
Small businesses and micro-enterprises can apply for stability grants through Local First Arizona’s Maricopa County Small Business Resilience Program. Small businesses demonstrating revenue declines or unanticipated operating cost deficits from July 1, 2020, through December 31, 2020, are now eligible for stability grants of up to $25,000.
The application period is from November 1, 2021, to May 11, 2022. In the event of funding exhaustion or the grant period closing, grants will be distributed on a rolling basis.
Funding will be used for:
- Expense reimbursement and revenue loss compensation up to $25,000.
- Less than the actual loss of $25,000.
- The reimbursement basis means that the grant will cover losses incurred from July 2020 to December 2021. The program end date can be extended by county.
- Roll out grants based on submission date until all funding has been exhausted or the grant period has ended.
Small businesses in Maricopa County are eligible for the program:
- Small and micro businesses, 501(c)3s, for-profits, and non-profits
- Home-based sole proprietorships
- SMBs on the move
By Eligibility Affidavit, applicants must certify that they meet the following criteria:
- In 2020, fewer than 50 full-time equivalents were employed.
- The company did not generate more than $5 million in gross sales (or revenues, if it’s a non-profit).
- As a result of COVID-19, gross sales or revenues decreased by at least 25% between 2019 and 2020. An application for the program must contain documentation demonstrating this.
Through a partnership with InvisionAZ and StartupAZ, Governor Ducey invested $1.5 million in EmergeAZ Fast II. Business mentoring and financial support will be provided to businesses recovering from COVID-19.
Business mentors and peers will be available to grant recipients. These individuals will monitor the grant recipient every quarter for a year. Depending on viability, talent, and previous venture capital funding, grants will range from $25,000 to $50,000.
In February, Governor Ducey invested $1 million in launching EmergeAZ Fast Grants to assist Arizona’s startups in navigating through the COVID-19 pandemic. The EmergeAZ Fast I program funded 33 Arizona startups.
Phoenix businesses can apply for PHXbizGrants resiliency grants. Phoenix City Council allocated $8 million in funds from the American Rescue Plan Act of 2021 to assist micro and small businesses affected by the pandemic. Online applications are now available for PHXbizGrants.
Internal Revenue Service treats deductible expenses as business expenses. Applications are accepted from companies that may have received city grants in the past. These grants cover payroll, rent, mortgage, insurance, inventory, and utilities.
Apply for PHXbizGrants if your company has fewer than 25 employees. Award ranges from $3,000 to $15,000, depending on business size and location. COVID-19-related revenue losses must equal at least 25 percent for businesses operating in Phoenix for at least one year.
Small businesses engaged in research and development with the federal government may apply for SBIR or STTR grants worth up to $250,000. SBIR and STTR grants require businesses to have commercially viable technologies. Your business can earn more money with SBIR and STTR grants. A company with less than 500 employees can apply for SBIR and STTR funding.
The Fundera Zach Grants provide $2,500 each year to small businesses. It takes only three minutes to upload a video explaining why you started your business. You will not have to fill out a lot of paperwork. Your chances of winning will increase if your video is high quality, creative, and original. If you wish to apply for the Fundera Zach Grant, you must upload your video to YouTube, email Fundera, and share it on social media.
The Amber Grant is a great opportunity for women running businesses in Arizona. Women-owned businesses get $10,000 every month with Amber Grants. Your chance to win up to $35,000 in grant funding increases if you are chosen to receive a monthly grant. Business owners across the country can apply for Amber Grants free of charge.
Small businesses can apply for grants through Arizona GrantWatch. The site not only offers small business funding, but also grants from state, federal, and local agencies. GrantWatch can help you find new grants and a grant writer who can help you craft outstanding grant proposals. It takes little more than a few questions to apply for a grant.
Grants are listed in the Arizona Grant Directory. Subscriptions are the only way you can access the information on Arizona GrantWatch. An annual subscription costs $199 and $18 per week per subscription. Applicants cannot apply for grants as free members.
Small businesses in Arizona have access to numerous resources. Government and private organizations are providing financial support to small businesses affected by Coronavirus. Small businesses benefit from financial aid, giving the economy a boost. Look at the above list and find a suitable funding source for your business.
Are you interested in learning more about different grants and programs that can help you with your living situation? Check out the rest of Gov Relations’ blog section today!