The Scottsdale Industrial Development Authority is stepping up with an innovative infusion of capital for small businesses walloped by the economic tsunami of COVID-19.
Scottsdale IDA is partnering with the City of Scottsdale, Experience Scottsdale, Scottsdale Area Chamber of Commerce, Scottsdale Leadership, and the Scottsdale Charros on the Scottsdale Small Business Stewards grant program. The Scottsdale partners came together quickly to create funding and support solutions for Scottsdale’s small businesses struggling to survive during the current Covid-19 crisis.
The Scottsdale Small Business Stewards grant program provides $200,000 in funding for recoverable grants not to exceed $5000. Grants are awarded to local businesses in the food and beverage, tourism, and healthcare sectors, which have been especially hard hit by this global pandemic.
Business owners must have owned and operated their business for at least 3 years prior to March 2020.
Businesses must be in the tourism, food and beverage, or healthcare sectors.
Business owners who are chosen will have a strong history of serving and giving back to their local community.
Business size is between 0 and 50 employees.
Business owners will use funding to retain jobs and maintain operations.
Business address must be within the City of Scottsdale.
Grants awarded through this program are intended to ease some of the financial strain on legacy small businesses in the Scottsdale community, while building a small business community of support to help businesses survive and thrive during challenging economic times.
This grant is a recoverable grant. The business owner will have the option of paying the money back or paying it “forward” by using their knowledge and resources to support other small business owners after the duration of the grant program. Any money returned to the Scottsdale Small Business Stewards fund will be distributed to additional grantees. There is no required timeline for grant repayment.
Grant Recipients join the Scottsdale IDA - City
of Scottsdale Small Business Stewards Program for six months.
Scottsdale Small Business Stewards Program Phase I:
Stewards utilize grant funding for business operations and produce a video summary of the business support needs of their industry sector and the effectiveness of available resources (human and financial).
Scottsdale Small Business Stewards Program Phase II:
Stewards utilize technical assistance as they
continue to navigate and overcome
challenges and Stewards “pay it forward” by
working with the Scottsdale IDA & Scottsdale
Small Business Assistance Center to support other business owners within their industry.