Each and every month various lenders, non-profits, and government programs in Arizona provide loans and/or free grants to small business owners. There are funds aimed at helping women owned companies as well as minority owned businesses. Find details below, as well as a list of loans and grants near you that can help Black or Latino owned companies, women owned or run businesses, LGBTQ companies and other minority small businesses.
Each and every day new loans and grants will be added to the list below, as they are released. The funds are targeted at helping minority as well as women owned (or run) companies as they often struggle to get the financing they need. The money can be issued by banks in Arizona, non-profit organizations, federal or state government backed agencies, foundations, or anyone.
If you need help starting a business, or growing an existing one, the loans and free grants below may assist. Apply early as the funds that help MWBE or BIPOC (Black, Indigenous, People of Color) often go quickly.
Small business loans and free grants in Arizona
An ongoing list of loans and/or grants is below. Whether a woman owned company, veteran, or minority, these lenders may help you. In addition to the funds you need, they also often provide mentoring and other assistance.
Year round business resources
The University of Arizona Center for Innovation (UACI) helps female owned businesses across the state, with a focus on tech companies. They offer an incubator program, meaning they help companies start and go on a growth trajectory. Get help applying for grants, no-interest loan, technical help, and learn about strategic partners. Women of all races can use the center. More details here. https://techparks.arizona.edu/UACenterForInnovation
Growth Partners Arizona provides financing across the state., including from 0% interest rate Kiva loans. They help underserved areas in Phoenix, Tucson, and other cities get capital, create business plans, and gain other support. Many clients are Latinos, immigrants, or minority or female owned businesses. They allow companies to match funds, offer customized loan packages, and give other assistance. Find details on the AZ lender here. https://www.growthpartnersaz.org/
Maricopa businesses can get interest free loans from a “Kiva” loan hub. A major focus of the non-profit lender is on providing funds to women, minority, veteran, immigrant, and LGBTQ small businesses. The center is run in partnership GoDaddy, City of Phoenix, Better Business Bureau Serving the Pacific Southwest. Loans can also be given to small business owners with no credit history or low credit scores, and up to $15,000 can be borrowed from the interest free loan program. Learn more. https://www.bbb.org/pacific-southwest/PhoenixKivaHub/
Seed Spot also helps minority owned businesses in the Phoenix region. They help businesses that focus on social change and impact. Get access to mentors, learn about raising capital, business plan development and more. Latinos, immigrants, Black owned businesses and others can reach out to this non-profit. Learn more. https://seedspot.org/
Women owned businesses in Tucson and Phoenix can turn to the Prestamos CDFI Women Business Center. The CDFI provides low cost loans for growing or starting a business. They also a number of other services to immigrants, Spanish speakers, Latinos and women companies. Coaches help with HR, Operations, Financial Management, and more. Free seminars workshops, and even applications to grants may be offered. Read here. https://www.prestamosloans.org/womens-business-center/
Tucson small businesses and startups can get help from the non-profit Startup Tucson. A major focus is on rural businesses. Farmers, migrant owned businesses, restaurants or retail stores and others are a focus. Learn about local financial aid programs and get other assistance as well. Read more on the non-profit. https://www.startuptucson.com/
YWCA Southern Arizona is giving cash grants of up to $10,000 to female owned businesses in Phoenix, Tucson, and other cities. Small business grants are also for Latina and immigrant owned businesses that have been impacted by COVID. Partners include The Women’s Foundation of Southern Arizona, the City of Tucson and the Community Foundation of Southern Arizona. The assistance program is known as the Small Business Continuity Grant program, and it is for small to mid-sized businesses with less than 51 people. It is for COVID-19 impacted companies. Apply here. https://cfsaz.org/grants-scholarships/cares-act-grants/
July 2020: New Free Grants Offer Aid To South Tucson Businesses. Preference will be offered to businesses owned by women and minorities, as well as those with disabilities – https://patch.com/arizona/tucson/new-grants-offer-aid-south-tucson-businesses
By Jon McNamara