Valley Metro has distributed more than $250,000 in direct financial assistance through its Small Business Financial Assistance Program (SBFAP) pilot to 50 small businesses along light rail construction in Phoenix.
The $2.3 million pilot program, which kicked off in March, is designed to benefit small, locally-owned businesses adjacent to construction along the South Central Extension/Downtown Hub and Northwest Extension Phase II light rail construction corridors. This program was developed thanks to direct feedback from the local business community and is funded by Phoenix Transportation 2050 and the Phoenix Community Development & Investment Corporation (PCDIC).
Phoenix Mayor Kate Gallego agrees that preserving local businesses is critical.
“Light rail is an enormous and important investment in our community," Mayor Gallego said. "It is equally important to ensure that businesses located near the rail construction zones survive and thrive. I have no doubt this much-needed assistance will keep our urban centers vibrant and active for generations to come.”
“Small businesses are the driving force of our city,” added Phoenix Vice Mayor Carlos Garcia. “Between the ongoing COVID-19 pandemic and long-term transportation construction, a grant through the Small Business Financial Assistance Program can make a big impact in keeping a business open.”
When asked about how business assistance has helped Chef Jamaris Kennedy’s catering business along Northwest Extension Phase II, Kennedy said, “We did receive $3,000 from the Valley Metro small business grant, which helped us. Some people may look at it like, ‘Oh, well, that’s not much,’ but it is to us. Being a small business, every penny counts.”
Kennedy, who owns Jamaris’ Kitchen, has also been working with the Valley Metro business assistance team to develop a company website, so that the community can engage and learn more about his business.
The SBFAP currently offers two tiers of financial assistance that can be applied for annually. In Tier I, businesses can receive $3,000 during the pilot year or they can opt to apply for Tier II where they can receive up to $9,000 depending on their demonstrated business impact. SBFAP funds are intended to support and help sustain these small businesses and can be used to offset business operational expenses, such as rent/mortgage, utilities, insurance and payroll.
“Every little bit helps. Thank you,” said Brannon Kleinlein, owner of Last Exit Live in downtown Phoenix, who also received the SBFAP funds along with signage that directs the public to his business.
According to Jose Galindo, Valley Metro Business Assistance Coordinator, the program complements Valley Metro’s suite of business assistance tools that have been in place for years, such as increased signage and wayfinding, community events, social media/marketing assistance, accounting/financial planning and dedicated, single points of contact to serve all business needs.
SBFAP funds are still available and eligible businesses are urged to apply for the assistance. Applications can be made online, over the telephone or in person in English or Spanish. For help with the application, Valley Metro Business Assistance Coordinators can provide one-on-one, personalized support to interested businesses.
