TUCSON - More financial help that is much needed will soon be on the way for local businesses and non-profits hit hard by the coronavirus pandemic.
Tucson Mayor Regina Romero said this was an investment in Tucsonans who are the heart and soul of our community.
Mayor Romero is talking about $5.5 million the Tucson City Council approved unanimously last week.
The money is part of the city's "We are One" or "Somos Unos" Resiliency Fund.
"This money will be distributed to families, small businesses, and non-profits that have been negatively impacted by COVID-19," said Mayor Romero.
Romero added that the funds are critical right now, especially for those who have not been able to receive money from the federal government.
This includes the Paycheck Protection Program, or PPP.
The breakdown will be $3 million for individuals and families, $2 million for small businesses, and $500,000 for non-profits.
"Eligibility criteria will ensure businesses owned by women, people of color, veterans, and other groups that have had trouble accessing federal PPP loans are able to receive financial support," Romero said.
Furthermore, an additional $1 million will be administered by the Business Development Finance Corporation.