Arizona Corporation Commissioner Dunn Calls for Streamlining Commission Processes to Aid Small Business and Arizona Workers
Phoenix—Arizona Corporation Commissioner Boyd Dunn issued a letter today asking for the Commission to expedite its processes to allow small businesses to take advantage of the federal Paycheck Protection Program.
“I am committed to helping small businesses survive this pandemic. This Program will make sure many Arizonans continue to get a paycheck during the crisis. Applying for the Program requires documentation from our Corporations Division and, in some cases, Commission approval. I want Arizona businesses to have the best chance to take advantage of this opportunity. I believe we can streamline our system to help small businesses and save Arizona jobs,” said Commissioner Dunn.
The Paycheck Protection Program will grant up to $349 billion in forgivable loans to small businesses to pay their employees during the COVID-19 crisis. The loans will be forgiven if they are used to cover payroll costs, mortgage interest, rent, and utility costs. In many cases, this loan will mean the difference between survival and closure for many Arizona businesses.
View Commissioner Boyd Dunn’s Letter here.