Businesses along the Northwest Extension Phase II that have been impacted by light rail construction can apply for up to $9,000 in financial assistance (a section of Phase I is pictured; photo courtesy of Valley Metro).
The Small Business Financial Assistance Program (SBFAP) will continue supporting businesses impacted by light rail construction in Phoenix.
Businesses located along the Northwest Extension Phase II and South Central Extension/Downtown Hub light rail projects can apply for this grant funding. Last year, the SBFAP granted $390,000 to nearly 70 businesses adjacent to light rail construction. In total, more than $765,000 has been disbursed to 131 businesses since program inception in 2021.
The program is funded through Phoenix Transportation 2050 and the Phoenix Community Development and Investment Corporation. Prestamos CDFI is the program administrator.
As the program enters its third funding year, new applicants and those who received funding previously are encouraged to apply for up to $9,000 in direct financial assistance, depending on their eligibility. The program is targeted to neighboring small businesses with 15 or fewer employees and not more than $750,000 in annual revenue.
Business owners can review the eligibility requirements and apply online at www.prestamosloans.org/valleymetro.
