Industrial Development Authority creates financial lifeline for small businesses during COVID-19

The Scottsdale Industrial Development Authority is stepping up with an innovative infusion of capital for small businesses affected by COVID-19.

The new program provides $200,000 of funding in $5,000 grants for local businesses in the food and beverage, tourism and healthcare sectors, which have been especially hard hit by this global pandemic.

National numbers suggest that less than 9 percent of funding has been disbursed to these sectors, and even less to business owners with  up to 50 employees.

Scottsdale IDA is partnering with the city of Scottsdale, Experience Scottsdale, Scottsdale Area Chamber of Commerce, Scottsdale Leadership and the Scottsdale Charros to create Scottsdale Thrives. The partners came together quickly so companies with 50 or fewer employees could get a range of short-term, mid-term and long-term funding.

Interested business owners can review the grant criteria and apply at scottsdalethrives.comlinks to external site. The goal is to distribute all grants during May.

 

 

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