Micro-entrepreneurs — businesses with 0-3 employees and less than $250,000 in annual revenue (approximately $35k-$45k in net profits) — struggling to surmount the financial impact of the COVID-19 pandemic may apply for funds to cover business expenses, employee salaries, and other operation-related costs.
To prepare, please read and download our SBA Disaster Recovery Loan Prep sheet.
BENEVITY
As a company who strives to “walk the talk,” Benevity just launched a public 1:1 matching campaign (up to $300,000) for donations made to your organization through our “We Are We” Giving Portal. This is our way of supporting your cause, increasing your (and your supporters’) impact, and hopefully stemming the spread of the virus that is affecting the world on a scale bigger than we could have imagined.
Community Investment Corporation (CIC) is supporting local small businesses in this time of uncertainty via specialized loan products and partnerships. CIC, which specializes in business micro-loans up to $10,000, is making any local small business affected by COVID-19 eligible for its nonprofit partnership and enhanced community benefit rates of 3%. Loan terms can also be extended out to 5 years as needed.CIC will also be offering loans with interest-only payments for up to six months to allow small businesses to recover from the economic challenges caused by COVID-19. This product is still in development phase but will be launched within a week.
Dorn Policy Group H.R. 748 - Stimulus Summary Summary of H.R. 748 reference amended bill as passed by the Senate. Providing emergency assistance and health care response for individuals, families and businesses affected by the 2020 coronavirus pandemic.
Federal Emergency Management Agency (FEMA)Provides unemployment benefits and reemployment services to individuals who have become unemployed as a result of a Presidential disaster declaration and who are not eligible for regular State Unemployment Insurance (UI), including freelancers.
ARIZONA OFFICE OF TOURISM HIRING OPPORTUNITIESThe Arizona Office of Tourism (AOT) is working with the Arizona Commerce Authority Office of Economic Opportunity and several private companies to connect our displaced hospitality workforce with industries that are urgently hiring. Our website where hospitality workers can go to find out what’s available right now is: tourism.az.gov/hiring-opportunities/ (and we just launched the Spanish version today)
ARIZONA COMMISSION ON THE ARTS EMERGENCY RELIEF FUNDArizona arts funders and service organizations have set up a collaborative fund to provide emergency relief grants of $500-$1,500 to Arizona artists and arts professionals. We know that these grants are unlikely to cover the full scope of lost income you may be experiencing. Please know that this is but one strategy being explored and implemented.
Musicians FoundationAll professional musicians, regardless of their genre or instrument, can apply for themselves or a family member if they meet the listed qualifications.
Recording Academy MusicaresProvides critical funds for music people struggling with financial, medical or personal crises. This program offers financial assistance for medical expenses including doctor, dental and hospital bills, prescriptions, addiction recovery treatment, psychotherapy, treatment for HIV/AIDS, Parkinson's, Alzheimer's and other critical illnesses, as well as basic living expenses such as rent and utilities.