Business Resources During COVID-19
The FDBA is here to do all we can to support downtown businesses. We have been working hard to collect available resources available for small businesses. Check often as this page will be updated frequently, and links will be added as soon as information is made available.
State of Arizona Information & Assistance
Governor's Executive Order
On March 30, Governor Ducey issued an Executive Order titled: Stay Home, Stay Healthy, Stay Connected.
Governor's Liquor License Fee Extension
On March 31, Governor Ducey announced the Arizona Department of Liquor Licenses and Control will defer the payment of all liquor licensing fees by 90 days. To read more, click HERE.
Flexibility for Restaurants & Bars
Governor Doug Ducey issued several Executive Orders in response to COVID-19. One relevant directive is to allow flexibility for restaurants, bars and other businesses, and allows:
* restaurants to deliver alcoholic beverages with the purchase of food; AND
* manufacturers, wholesalers and retailers to buy back unopened products from restaurants, bars and clubs.
CARES Act Information & Financial Assistance
Below are summary documents to help business owners understand the financial assistance programs available through the Coronavirus Aid, Relief, and Economic Security (CARES) Act.
Tax Filing Deadline Extended
US tax filing deadline has been moved to July 15, 2020. This applies to businesses as well as individuals.
Unemployment Insurance Expanded
Currently, unemployment insurance allows for $240/week. The CARES Act provides an additional $600/week for up to 4 months.
Payroll Protection Program
Administered by the SBA. $0 fee, forgivable loan up to $10 million
This is directed to small businesses, self-employed individuals, and non-profits. Borrower is eligible for loan forgiveness on amounts spent during an 8-week period on qualifying payroll costs, interest payments on mortgages, rent and utilities. The goal is to help keep employees on payroll at current levels.
Emergency Economic Injury Disaster Grant
Administered by the SBA. This provides grants of up to $10,000 helping small businesses continue operations and pay immediate expenses, such as payroll, sick leave, and business obligations like rent, utilities, etc.
Economic Injury Disaster Loan
Administered by the SBA. If a small business can't get enough money with other available programs, they can apply for a low-interest loan for up to $2 million. 3.75% interest rate. This can be used to pay for expenses that could have been met had there not been this current disaster.
Employee Retention Tax Credit
This provides a refundable payroll tax credit for 50% of wages paid by employers to employees during the COVID-19 crisis. The credit is available to employers whose operations were fully or partially suspended due to a shut-down order, or gross receipts declined by more than 50% when compared to the same quarter in the prior year. The credit is provided for the first $10,000 of compensation, including health benefits, paid to an eligible employee, and provided for wages paid or incurred from March 13, 2020 through December 31, 2020.
SBA Low Interest Loans
This program provides up to $2 million per business of low interest loans to small businesses or private, and non-profit organizations that suffer substantial economic injury from COVID-19. Businesses in Coconino County are eligible to apply for loans today.
Businesses may apply online in the Disaster Loan Application Portal. The SBA Page with more details about the program can be found by clicking HERE. Business owners can prepare the documents you needed to apply:
- Loan Application (SBA Form 5, available online in the portal)
- Tax Information Authorization (IRS Form 4506-T), completed and signed by each applicant, each principal owning 20 percent or more of the applicant business, each general partner or managing member; and, for any owner who has more than 50 percent ownership in an affiliate business. Affiliates include, but are not limited to business parents, subsidiaries, and/or other businesses with common ownership or management.
- Complete copies, including all schedules, of the most recently filed Federal Income tax returns for the applicant business; an explanation if not available.
- Personal Financial Statement (SBA Form 413) completed, signed, and dated by the applicant, each principal owning 20 percent or more of the applicant business, and each general partner or managing member.
- Schedule of Liabilities listing all fixed debts (SBA Form 2202).
- Technical assistance is available with the SBDC. REGISTER for Technical Assistance, click HERE
Additional Grant Opportunities
Verizon and Local Initiatives Support Corporation (LISC) Small Business Recovery Fund
A trailblazing investment of $2.5 million from Verizon is making it possible for LISC to begin offering critical relief and resiliency-building support to small businesses facing immediate financial threat because of the COVID-19 pandemic. The funding will go to make grants of up to $10,000, especially to entrepreneurs of color, women-owned businesses and other enterprises in historically under-served places who don’t have access to flexible, affordable capital. Verizon will highlight and bolster these efforts through their inaugural "Pay It Forward Live" online concert series. To nominate your business and register, please click HERE!
Facebook Small Business Grants Program, click HERE
Facebook Business Resource Hub, click HERE
City of Flagstaff
The City's guide to COVID-19 information can be found HERE.
COVID-19 Business Response Quick Start Guides and In-depth Guides are available for download HERE.
The Flagstaff Downtown Business Alliance team is working hard to promote current business operations. Please review the comprehensive list of downtown businesses on our website and on social media, and share as you are able to your social media, e-newsletters, etc. See below:
ALSO!!! FREE PARKING and CURBSIDE PICKUP is in place for added convenience and to help support downtown businesses.
Business Response Quick Start Guides and In-depth Guides are available for download HERE.
Local First Arizona
Resources available to support small, local, and independent businesses, click HERE
National Restaurant Association
Resources available to support restaurants of all sizes to ensure they have the latest information, click HERE