Valley Metro distributes $250,000 in small business grants

Valley Metro's Small Business Financial Assistance Program pilot (SBFAP) has distributed more than $250,000 in direct financial assistance 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, according to a news release.

The program was developed with input from the local business community and is funded by Phoenix Transportation 2050 and the Phoenix Community Development & Investment Corporation (PCDIC).

"Light rail is an enormous and important investment in our community. 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," said Phoenix Mayor Kate Gallego.