Arizona makes $5 million more available to help small business recovery

Oct 14, 2021, 2:15 PM | Updated: 2:24 pm
(Photo by Gado/Getty Images)...
(Photo by Gado/Getty Images)
(Photo by Gado/Getty Images)

PHOENIX —  Arizona Gov. Doug Ducey has made $5 million more in funding available to aid small businesses recovering from the COVID-19 pandemic and recent weather-related damages.

The funds are part of Ducey’s Back to Work Small Business Rehiring and Retention Program, which was launched in August to assist small businesses hire and retain employees and to also help recovery from events such as wildfires and flooding.

The additional $5 million will go to businesses that applied for funding from the program but weren’t awarded money in the first allotment of grants.

Businesses that received grants in the first round of $5 million in funding have started receiving money, according to a press release.

“Small businesses are the backbone of Arizona’s economy and we’re dedicated to helping them fully recover,” Ducey said in the release.

“I’m optimistic today’s additional investment will help small businesses around the state bounce back from the countless challenges of this past year and build for the future.”

Selected businesses can receive up to $10,000 in funding.

Eligible Arizona businesses have to be owned and operated in the state, be incorporated before Jan. 1, 2020, rent or lease a physical location in the state and have 5-25 employees on-site.

Businesses in areas impacted by wildfires and floods can have up to 50 employees.

Applications can be sent in here.

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Arizona makes $5 million more available to help small business recovery