The Arizona Innovation Accelerator Fund is an $18.2 million loan participation program funded through the U.S. Department of Treasury’s State Small Business Credit Initiative (SSBCI) and managed by the Arizona Commerce Authority (ACA). The goal of this program is to stimulate financing of small businesses and manufacturers, while fostering business expansion and job creation in the state of Arizona.
How does the Arizona Innovation Accelerator Fund (AIAF) Program Work?
- The AIAF Program provides debt financing to rapidly expanding Arizona businesses that need resources in order to capitalize on market opportunities.
- This loan participation program works in collaboration with private finance partners.
- The AIAF Program has the ability to fund up to 49.9% of a financing package that includes both public and private capital.
- AIAF Loans range from $50,000 to $2 million, may be used to support finance packages of up to $20 million total, and typically have maturities of 5 years or less.
- Loan proceeds are to be used for business purposes including, but not limited to, working capital, inventory and equipment purchases, workforce expansions, real property improvements, and acquisitions.
What Businesses Are Eligible for the AIAF Program?
- Businesses that demonstrate the potential to create or retain employment opportunities for Arizonans.
- For-profit, existing corporations, limited liability companies, partnerships, or other companies with fewer than 500 employees.
- Companies representing ACA target industries such as aerospace and defense, semiconductors, optics, bioscience, and renewable energy will receive priority.
If you are interested in participating in the Arizona Innovation Accelerator Fund Program, please download the PDFs below, which contain the Program’s guidelines and required forms.