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- Arizona SSBCI Program
Arizona State Small Business Credit Initiative
The American Rescue Plan Act of 2021 reauthorized and amended the Small Business Jobs Act of 2010 to fund the State Small Business Credit Initiative (SSBCI) as a response to the economic effects of the COVID-19 pandemic.
The State Small Business Credit Initiative (SSBCI) is a federal program administered by the Department of the Treasury to strengthen state programs that support private financing to small businesses and business enterprises owned and controlled by socially and economically disadvantaged individuals (SEDI-owned businesses).
Treasury approved Arizona’s application to implement three programs under the SSBCI Initiative:
- Arizona Loan Guarantee Program
- Arizona Venture Co-Invest
- Arizona Multi-Fund Venture
Visit the FAQs for answers to the most commonly asked questions.
Arizona Loan Guarantee Program
The Arizona Loan Guarantee Program (AZLGP) provides guarantees to partnering lenders for up to 50% of principal on loans to eligible businesses. This program is part of the State Small Business Credit Initiative (SSBCI) and helps partnering lenders mitigate risk so they can increase capital available to small businesses located across Arizona.
Borrowers must be an Arizona small business, or eligible non-profit, using the loan proceeds for an eligible business purpose in Arizona. Eligible business purposes include startup costs, working capital, equipment, inventory, the purchase, construction, renovation, or tenant improvements of an eligible place of business that is not for passive real estate investment purposes, and the purchase of any tangible or intangible assets except goodwill.
Funds are targeted to Arizona businesses with fewer than 500 employees and can only be provided to businesses with fewer than 750 employees. The number of employees includes any parent company and all locations. Certain business types are ineligible under SSBCI guidelines; see our FAQs for details.
Loans and lending decisions are made by the partnering CDFI’s using their own underwriting and loan evaluation criteria and lending decisions are at the sole discretion of the lender – no loans come directly from the Arizona Commerce Authority. The guarantee is provided to the lender to help mitigate risk. Lending capital is not provided by the program. Enrolled lenders' ability to make loans is dependent on each lender's available capital.
Arizona is partnering with three Community Development Financial Institutions (CDFI)
Clearinghouse CDFI is a full-service, direct lender financing projects that create jobs & services to help people work, live, dream, grow, & thrive in healthy communities. The company was established in 1996 to serve low-income and disadvantaged communities. They specialize in small business loans for construction, acquisition, renovation, and expansion.
Lendistry CDFI is a minority-led small business lender that gives growing businesses a fair chance to access affordable capital. With the speed and convenience of technology, and the knowledge and guidance of responsible lending, they’re able to help business owners achieve their goals with flexible financing options. Lendistry offers a variety of startup and small business financing options ranging from $50,000 - $5,000,000.
Prestamos CDFI, a division of Chicanos Por La Causa (CPLC), is a Community Development Financial Institution (CDFI) and Community Development Entity (CDE) that has provided small businesses loans and high-quality technical support services to business owners in underserved and emerging communities since 1980. Prestamos CDFI offers loan products ranging from $10,000 up to $1 million, business consulting services, and investment opportunities.
Arizona Multi-Fund Venture Capital Program – AVC Limited Partner
Designed to make equity investments in established venture capital firms to attract new capital in innovative Arizona-based businesses.
The venture capital programs will be supported through the non-profit Arizona Venture Development Corporation.
Arizona Venture Co-Invest Program – AVC Ignite
Designed to make direct equity investments in innovative seed- and early-stage businesses in targeted sectors alongside institutional/venture capital firms, established angel capital associations, corporate VCs and established accelerators and incubators.
Frequently Asked Questions
SSBCI's FAQ section offers answers to the most frequently asked questions.
For questions about Arizona’s allocation of SSBCI funding or any of the programs, fill out the form below: