Manufacturing in Phoenix

Financial Resources V2

Consolidated Financial Resources for Businesses

The impact of COVID-19 has been felt across the business community, and local, national and federal programs have been developed to offer financial relief. This page consolidates the options available to your business and provides insight about how to navigate the application process.

Update as of April 2, 2020




CARES Act Funding


total available for the PPP


added to the SBA EIDL program


allocated to the SBA Business Loan program

Understanding the CARES Act

The Coronavirus Aid, Relief and Economic Security (CARES) Act was signed into law on March 27, 2020 and is designed to support individuals and businesses dealing with the economic and health impact of the coronavirus. The Small Business Administration (SBA) and the Department of Treasury are guiding the programs created through the CARES Act. On this page we will focus on the four, primary small business assistance programs covered under the CARES Act, which may be beneficial to your business.

To learn more about the CARES Act, download our summary.

CARES Act Summary (pdf)

Paycheck Protection Program (PPP)

Economic Injury Disaster Loans (EIDL)

Small Business Debt Relief Program 

Tax Deferment or Credit

Small Business Assistance Options - Federal


Paycheck Protection Program (PPP)


Economic Injury Disaster Loans (EIDL)


Small Business Debt Relief Program


Tax Deferments & Credits

Determine the Right Option(s) for Your Business

These resources cover multiple small business assistance options to help you determine which is relevant to your business and how to navigate the application process. You should only apply to programs you qualify for, but there is no penalty for applying to multiple assistance programs, as long as funds are used for different purposes.

Are you a small business?

First, determine if your business size meets the eligibility standards set by the SBA. All businesses with fewer than 500 employees qualify. If you have greater than 500 employees, please use the Business Size Calculator to determine if you are eligible.


SBA Business Size Calculator

Small Business Application Guide

For a quick overview on the qualifications and how to apply for each of these programs, download our application guide.


Get the Guide


AZ Commerce Authority (ACA)

Find quick answers to your questions on the ACA’s business assistance resource page, or download the current list of local SBA-approved lenders, compiled by the ACA team.

See Q&As


Arizona Small Business Development Center Network (AZSBDC)

SBDCs provides free one-on-one business counseling and resource assistance for small businesses.


AZSBDC Locations & Contact

Paycheck Protection Program (PPP)

Covers the compensation of your employee payroll, insurance, utilities and other operational expenses.

The Paycheck Protection Program (PPP) is designed to provide a direct incentive for small businesses to keep workers on the payroll. The PPP is a forgivable loan available for small businesses, 501(c)3, 501(c)19, and tribal businesses that meet the SBA small business designation, along with sole proprietors and independent contractors. Companies must have been operational by 02/15/2020. Other restrictions apply.

  • Loan is equal to 250% average monthly payroll
  • $10M maximum funding amount
  • Funds spent on qualifying expenses over 8 weeks can be forgiven
  • Unspent amount rolls over into a low interest loan.
Eligibility Criteria

Borrowers do not need to demonstrate economic hardship but rather certify in good faith that their business has been affected by the current economic crisis. Companies must have been operational by 02/15/2020.

Borrowers apply through banks certified in SBA 7(a) lending. Each bank will have its own application requirements, but will generally look for a business description, recent tax returns, personal financial statements, debt schedules and ownership records.

View a sample application

Where to Apply

Applications are scheduled to open on 04/03/2020. Apply through your existing SBA 7(a) lender or through any local, participating lender.


Find Your Nearest SBA-Approved Lender

Resources for Navigating the Process

Program overview, info on who can apply, how to apply, loan details and forgiveness, and other assistance can be found on the websites below. 

Economic Injury Disaster Loans (EIDL)

Also known as the “SBA Disaster Loan,” the EIDL is an extension of the existing disaster loan program. Businesses may apply for both EIDL and PPP, although funds cannot be used for the same purpose.

Covers a wide range of business expenses for funds lost.

  • $2M maximum funding amount
  • 3.75% interest rate
  • $10,000 advance can be obtained within 3 days *repayment not required on advance amount
Eligibility Criteria

For full details, see the “Eligibility Entity Verification” on the application.

  • Applicant is a business with no more than 500 employees, a business that qualifies as small under the SBA Size Standards, sole proprietorship, independent contractor, cooperative or non-profit.
Where to Apply

Applications are currently open. Apply through the SBA Disaster Loan application. You may also apply for the Express Bridge Loan (EBL) program if you would like to expedite your potential EIDL financing.

EIDL Loan Application

EBL Program Details >>

Resources for Navigating the Process

Choose from a video guide, step-by-step written guide or contact resources at our local Arizona, SBA District Office for help with the application process. Arizona’s local SBA office can be reached at 602.745.7200, although due to high call volumes, we recommend exhausting online resources prior to calling.

Contact the SBA
P: 1-800-659-2955 (TTY: 1-800-877-8339)
How-To Video Guide – SBA Disaster Loan

by the City of Phoenix

Small Business Debt Relief Program

Covers non-disaster, business loan payments for six months including principle, interest and fees.

  • $2M maximum funding amount
  • SBA guaranteed up to 75%
  • Forgives current loan payments
Eligibility Overview
  • Eligible loans include 7(a), 405 & Microloans
  • Loans under the Paycheck Protection Act are NOT eligible
  • New borrowers who take out loans within six months of the bill being signed can utilize this program
Where to Apply

Speak to your current financial provider to apply this assistance to your active business loan. Once requested, funds should quickly be applied.

Resources for Navigating the Process

Check the SBA guidelines and then speak to your business lender.

SBA Guidelines

Local Banking Contacts

Taxes: Deferment or Credit

Two programs are available to reduce immediate tax costs: the Payroll Tax Deferment program and the Employee Retention Credit. 

Payroll Tax Deferment program

  • Defer your share of business Social Security taxes until 2022
  • Funds must be paid back
  • 50% of the deferral must be paid by 12/2021, with the remaining 50% paid by 12/2022

Employee Retention Credit

  • Refundable Tax Credit equal to 50% of qualified wages
  • Max credit per employee: $5,000
Eligibility Overview
  • Employers of all sizes are eligible
  • Businesses and sole proprietorships qualify
  • Payroll taxes can be deferred until July 15, 2020
Where to Apply

Refer to your financial team on changes in the payroll process. All penalties for social security tax non-payment when filing weekly or biweekly payments will be waived. Visit the U.S. Treasury statement for more information on tax deferment. See tax relief program details on the IRS website.

Resources for Navigating the Process

Find resources on the IRS and U.S. Treasury websites.

IRS Tax Relief

U.S. Treasury Tax Deferment

Local Funds & Additional Resources

Groups in Arizona and businesses across the U.S. are developing funds to offer relief to businesses impacted by COVID-19.

Facebook Small Business Grants Program

Facebook is offering $100M in cash grants and ad credits for up to 30,000 eligible small businesses. Stay tuned to their website for updates and to get access to additional business resources.



Program Details & Status

AZ Local Impact Fund

LeadMD and InvestSW have set up the AZ Local Impact Fund to support businesses needing assistance. Fund applications have not yet opened while they collect donations, but you can sign up for updates on their website and review the criteria to see if your business can apply when available.

Application – Not Yet Open

Program Details & Status


AZ Coronavirus Relief Fund

Governor Ducey created this fund to provide financial support to organizations working to mitigate the impacts of COVID-19 in Arizona. Funds will support: PPE for frontline medical personnel, nonprofit orgs supporting those most vulnerable and access to technology for low-income students.

See Assistance Options

Relief Fund for AZ Arts Professionals

A collaborative fund for emergency support for working artists, teaching artists, production personnel, and arts-based contract workers who have experienced cancelled events and residencies or terminated contracts as a result of the global COVID-19 pandemic crisis.

Learn more

Local Banking Contacts

For assistance with your current business account, please contact the recommended resource listed for your bank.

We are working with local banks to acquire a designated business account contact from each financial institution. Updated contact information will be listed as soon as it is provided to us.

NOTE: Banks are prioritizing existing clients, contact your current bank representative first.

BOK Financial

Brian Barry
SVP Commercial Banking, English
P: 480.459.2829

Elias Espinoza
VP Commercial Banker, Spanish
P: 602.217.1596

MidFirst Bank

Thomas J. Altieri
SVP, SBA Lending Manager, English
P: 602.801.5713



National Bank of Arizona

John Lewis
SBA Banker, English
P: 602.212.5545

Marcos Garay
EVP, Director of Multicultural Banking, Spanish
P: 602.212.5543

OneAZ Credit Union

Ken Bauer
SVP – Credit Administration, English
P: 602.467.4060



Enterprise Bank

Kelli Tonkin
Senior Vice President, English

P: 602.824.5719


Sunflower Bank

Matthew Mapes
SVP, Director of SBA Market Development, English
P: 480.676.6619


UMB Bank

Sean Scibienski
SVP Team Lead | Business Banking, English
P: 602.912.6742

Cyeana Johnson
BB Relationship Officer II, Spanish
P: 520.273.4997

US Bank

Ray St Clair
SBA Lender, English
P: 602.980.3030

Phil Hicks
SBA Lender, Spanish
P: 602.222.4588

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