City of Peoria Small Business Emergency Loan Program

City of Peoria Small Business Emergency Loan Program

The city of Peoria cares deeply about its business community and has developed several programs to provide much-needed financial support to small businesses during the COVID-19 pandemic. Coming in July, Peoria businesses can apply for the City of Peoria Small Business Emergency Loan Program and/or the City of Peoria Community Development Block Grant (CDBG) Small Business Assistance Grant Program.
 
In partnership with Bell Bank, the Small Business Emergency Loans are microloans in the amount of $5,000 up to $20,000 for businesses that employ less than 20 people. The loans will be awarded on a first-come, first-serve basis to qualified applicants that need help with working capital needs or normal business operating expenses throughout the pandemic recovery period. The loans have a fixed, low interest rate and repayment terms up to 48 months. The first payment for these loans will be deferred for 120 days to help businesses get back on their feet.


The CDBG Small Business Assistance Grants are for enterprises that make the community stronger by creating jobs for low- to moderate-income individuals. There are 20, one-time grants available for business owners and entrepreneurs who did not receive funding through the Paycheck Protection Program or the Economic Injury and Disaster Loan. Grants in the amount of $5,000 will be awarded to eligible Peoria businesses with annual revenue of less than $750,000 and can demonstrate assistance in stabilizing and expanding microenterprises that provide medical, food delivery, cleaning and other personal services to support home health and quarantine. 
 
Visit www.peoriaaz.gov/business and click on "Upcoming Funding Opportunities" often to learn the latest and to apply for the City of Peoria Small Business Emergency Loan Program and/or the City of Peoria CDBG Small Business Assistance Grant Program.