Loans and Loan Programs

  • Microloan Programs: Provide very small loans to startup or growing small businesses. Under this program, non-profit community-based lenders make loans to eligible borrowers in amounts up to a maximum of $50,000. Individuals and small businesses applying for micro loan financing may be required to fulfill training and/or planning requirements before a loan application is considered.
     
    • Neighborhood Economic Development Corporation (NEDCO): Non-profit, certified Community Development Financial Institution (CDFI) that provides loans, partial guarantees for loans that need collateral, and development assistance (education, networking and support) to businesses. Loans range from $5,000 to $75,000. (19)
      480.258.6927 

      Area coverage: Phoenix and East Valley
    • PPEP Microbusiness and Housing Development Corporation (PMHDC): Non-profit, certified Community Development Financial Institution (CDFI) that provides loans and technical assistance to small businesses. Loans range from $500 up to $250,000. (16)
      520.622.3553

      Area coverage: All of Arizona and the Navajo Nation 
    • Préstamos CDFI: Non-profit SBA community development lender that provides affordable capital in the form of small business loans and equity investments up to $500,000. Prestamos additionally offers no cost business advising services to help its clients grow their businesses. (16)
      602.258.9911 or toll free 855.849.2752

      Area coverage: All of Arizona
    • Arizona Technology Access Program, Self-Employment for Entrepreneurs with Disabilities (S.E.E.D.): An alternative financing program designed to assist individuals with disabilities in borrowing money at affordable rates for the purchase of office equipment, furniture, supplies, or assistive technology. Qualified applicants may be approved to borrow funds in the amounts ranging between $500 and $10,000. Pre-loan support services, flexible repayment terms, below market interest rates, and no prepayment penalties are features of this unique program. (12)
      602.776.4670 or Toll free 800.477.9921
      602.728.9536 TTY
       
      Area coverage: All of Arizona
  • LISC Phoenix (Local Initiatives Support Corporation): Community Development Financial Institution (CDFI) that offers financing during all stages of projects, from predevelopment to permanent financing, across a wide variety of community development project types, from large affordable housing projects to small business loans. Loans range from $50,000-$5,000,000. (18)
    602.252.6316

    Area coverage: Metropolitan Phoenix

       
  • Verde Valley Regional Economic Organization (VVREO) offers loans to assist startup, emerging and growing businesses that are ineligible for funding from commercial institutions. Funds for the loan programs are made through a loan and a grant from the USDA. Loans may be secured for working capital, inventory and equipment. Loans range from $25,000 up to $150,000. (19)
    928.300.1640

    Area coverage: Verde Valley

  • SBA Loan Programs: The U.S. Small Business Administration (SBA) has developed a number of financial programs for small businesses. (19)

    Contact: U.S. Small Business Administration, Arizona District Office, 602.745.7200 or 800.359.1833
     
    • The Arizona District office of the Small Business Administration (SBA) holds a free loan clinic class on the first Wednesday of every month. Learn how to prepare an SBA loan application and how to approach a lender to improve your chances for approval.
       
    • Financing Options for Small Businesses: This free, self-paced training exercise is an introduction to financing options for your business.Topics include; determining your financial needs, loans, grants, venture capital, angel investors, crowd funding and other financial options available to small businesses. (20)
       
    • Arizona SBA Lender List (under Business Resources and News > From our Office)
  • Commercial Bank Loan Programs: In Arizona, many businesses seek financing through their commercial bank. Commercial banks provide the business community with a variety of financing options, such as SBA guaranteed loans, working capital, commercial real estate loans, and letters of credit. A loan officer from your bank can discuss which type of loan will best meet your needs and outline the application procedures. (16)

Additional Information:
See also: Arizona Entrepreneur's Edge Resource Guide - Financing your Business (pdf)