Small businesses in Tucson can still get direct no-interest loans through a city of Tucson program, but time is running out as the application deadline is looming on Tuesday, May 26.
The Tucson City Council in April approved $1 million in funding to the We Are One/Somos Uno Resiliency Fund to fund the loans through the Business Development Finance Corp.
More than $300,000 of the $1 million authorized by the mayor and City Council for loans has been awarded, the city says.
Direct loans of up to $25,000 at zero interest are available to small businesses, sole proprietors, 1099 contractor workers and 501(c)(3) nonprofits that meet the eligibility criteria.
The remainder of the funds will be allocated for direct loans to businesses that are minority-, women-, veteran-, or disability-owned or are located in low-to-moderate income areas.
“We want to make sure our historically underserved businesses are benefiting from the financial assistance programs that are so urgently needed right now,” Mayor Regina Romero said.
To be eligible for the Tucson Resiliency Loan Funds, a business must be located within Tucson city limits and have a valid Tucson business license or be registered with the Arizona Corporation Commission in good standing.
Barbra Coffee, Director of Economic Initiatives for the City of Tucson, said eligible businesses must be locally owned and operated and not part of a national chain.
The deadline to apply is midnight Tuesday, and there are no current plans to extend the program, Coffee said.
For more information or to apply for a loan, go to bdfc.com/tucson or contact the Tucson Small Business Hotline at 837-4100.
Separately, city-funded grants of $3,000 to $20,000 also are available through the Community Foundation of Southern Arizona at tucne.ws/cfsac19.
"We're tough as saguaros," editorial cartoonist David Fitzsimmons says. He says he saw a video made for the people of Detroit and became inspired to do his own take for Tucson.
Photos: Park Place and Tucson Mall reopen
Park Place and Tucson Mall reopen
Updated
Rosemary Garcia waits for a family member outside of a store at Park Place, 5870 E. Broadway Blvd., in Tucson, Ariz. on May 19, 2020.
Park Place and Tucson Mall reopen
Updated
Customers stand a few feet apart while ordering lunch at Charley's inside Park Place, 5870 E. Broadway Blvd., in Tucson, Ariz. on May 19, 2020.
Park Place and Tucson Mall reopen
Updated
Customers stand a few feet apart while they wait to enter Finish Line at Park Place, 5870 E. Broadway Blvd., in Tucson, Ariz. on May 19, 2020.
Park Place and Tucson Mall reopen
Updated
Antoni Barnes, center, supervisor of house cleaning, cleans a chair at Park Place, 5870 E. Broadway Blvd., in Tucson, Ariz. on May 19, 2020.
Park Place and Tucson Mall reopen
Updated
A group of friends each lunch in the food court at Park Place, 5870 E. Broadway Blvd., in Tucson, Ariz. on May 19, 2020.
Park Place and Tucson Mall reopen
Updated
Carolina Castillo, house keeping staff member, wipes down a chair and table in the food court at Park Place, 5870 E. Broadway Blvd., in Tucson, Ariz. on May 19, 2020.
Park Place and Tucson Mall reopen
Updated
Don Tongue, left, supervising officer, hands a customer a mask using tongs at Park Place, 5870 E. Broadway Blvd., in Tucson, Ariz. on May 19, 2020.
Park Place and Tucson Mall reopen
Updated
Customers maintain a little distance between one anther as they wait outside of Forever 21 at Park Place, 5870 E. Broadway Blvd., in Tucson, Ariz. on May 19, 2020.
Park Place and Tucson Mall reopen
Updated
Carolina Castillo, house keeping staff member, wipes down a chair and table in the food court at Park Place, 5870 E. Broadway Blvd., in Tucson, Ariz. on May 19, 2020.
Park Place and Tucson Mall reopen
Updated
Tatianna Arriaga, far left, Zumiez store manager, and Derek Leahy, assistant store manager, stand in the front doorway of Zumiez to inform customers when then can enter the store at Park Place, 5870 E. Broadway Blvd., in Tucson, Ariz. on May 19, 2020.
Park Place and Tucson Mall reopen
Updated
Carolina Castillo, house keeping staff member, wipes down door handles at Park Place, 5870 E. Broadway Blvd., in Tucson, Ariz. on May 19, 2020.
Park Place and Tucson Mall reopen
Updated
A customers quickly gets some hand sanitizer at Park Place, 5870 E. Broadway Blvd., in Tucson, Ariz. on May 19, 2020.
Park Place and Tucson Mall reopen
Park Place and Tucson Mall reopen
Customers sit at tables spaced six feet apart in front of Tuttie Frutti and Wetzel's Pretzels at Park Place, 5870 E. Broadway Blvd., in Tucson, Ariz. on May 19, 2020.
