Small businesses, particularly those with less than five employees known as “microbusinesses,” are the heartbeat of Arizona’s economy. Microbusinesses drive economic development and investment as well as create jobs for thousands across the state. Making funding available to help these microbusinesses grow their businesses will impact individuals, families, and communities across the state.

Small businesses are the backbone of Arizona’s economy. My administration is focused on building an economy that works for everyone, and this program gives our microbusinesses the opportunity to grow and thrive.

Katie Hobbs, Governor

The CDFI and non-profit community partners selected to participate and administer the loans to microbusinesses are well recognized as champions in their communities.

Carlos Contreras, Cabinet Executive Officer, Arizona Office of Economic Opportunity

In the News

Arizona Launches Microbusiness Loan Program to Facilitate Economic Development and Job Creation Throughout State

August 8, 2024

Businesses with five or fewer employees can access loans through State Partner Community Development Financial Institutions or Community Non-Profit Lending Organizations Phoenix, AZ – Today, Governor Katie Hobbs, in partnership with the Arizona Office of Economic Opportunity (OEO), launched the Arizona Microbusiness Loan Program to foster economic development and job creation in communities

Arizona Microbusiness Loan Program Grant Opportunity

Arizona Announces Second Round of Grants for Microbusiness Loan Program

June 6, 2024

Round Two Application now open to experienced lenders The Arizona Office of Economic Opportunity (OEO) is now accepting grant applications for a second round of grants for the new Arizona Microbusiness Loan Program. The goal of the program is to bolster economic development across the state, create and retain jobs, and support businesses with five or fewer employees by providing low-interest loans

How it works

The State of Arizona has designated $5 million to be available to Arizona’s microbusinesses in the form of loans administered by the Office of Economic Opportunity in partnership with Community Development Financial Institutions (CDFIs) and non-profit community lending partners across the state.

Microbusiness loans can range from $2,000 - $50,000 per qualified business. Microbusiness owners who are interested in applying for a microbusiness loan can directly visit their regional lending partner application page at one of the links below.
CDFI lenders and community non-profit partners to provide additional financial education and training to support to loan recipients, ensuring the microbusinesses recipients have access to training and resources to improve outcomes of each loan.
Partners like Startup Tucson, Local First Arizona, Bureau of Indian Affairs Division of Capital Investment, Navajo Nation State Small Business Credit Initiative, Northern Technology and Business Incubator and others will supplement awarded microbusiness loans by offering financial education and training, business planning and forecasting, accounting, credit counseling and other areas to accompany funding to ensure successful growth and development of microbusinesses loan recipients and deliver positive outcomes for borrowers.
Visionary state leadership from Arizona’s Executive and Legislative branches support and champion public investment designed to facilitate economic growth and development and foster job creation in every corner of the state.

CDFI PARTNERS