Find lenders, non-profits, and government programs in Arizona that 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 in AZ that help Black, immigrant or Latino owned companies, women owned or run businesses, LGBTQ companies and other minority small businesses.
Some of the agencies focus on providing grants to Latino or Black women owned businesses, and others help any minority, veteran, or female in Arizona. 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.
October and November 2024
The SEDI Business Supportive Grant (SBSG) from Wells Fargo and the Black Chamber of Commerce is providing 5K to 10K for minority and disadvantaged businesses. Most of the grant money is for the Phoenix area, and learn more on the programs here. https://blackchamberaz.org/the-black-chamber-of-arizona-sedi-business-supportive-grant/.
June and July 2024
A Business Accelerator for Minority Entrepreneurs is being set up by the AZ Black Chamber of Commerce. It will provide a number of free services to Black and minority owned businesses. Get help wit raising money from grants or loans, MWBE certification, find government contracting opportunities and more. Learn more about the annual Accelerator program here. https://impactaz2025.com/
January 2024
Tucson businesses can apply for funds from the Changemakers Grant Program. There are multiple sources of funding, with some grant money allocated to businesses owned by people of color, women, and veterans. Green Energy businesses can apply for up to $10,000, start ups can get up to $5,000, the Upskilling Tucson Fund is for employee development costs and more. Learn about the program from the City and Groundswell Capital here. https://www.groundswellcapital.org/
November and December 2023
FirstBank Empowerment Awards provides grant money to disadvantaged businesses. The program is run by the Phoenix Suns and FirstBank, with business grants issued over the upcoming NBA season. There are months dedicated to Hispanic owned businesses, Natives America, veterans in Phoenix , Black owned and others. Get details here. https://www.nba.com/suns/empowerment
August and September 2023
Black women in Tempe and Phoenix can apply for free grants from Wells Fargo and the Chamber of Commerce Foundation. The money is intended to help small, Black women owned businesses grow their operations in the area. The program is known as Black Women in Business Supportive Grant, with $5,000 to $10,000 given to each qualified applicant. Apply here. https://tempechamber.org/grants/
June and July 2023
Professional Women of Flagler County has a $15,000 grant. It is for current members that also have a small business. The money will help with a wide varity of small business costs, and apply here. https://professionalwomenflagler.org/
Scottsdale Arizona based Women’s Collective (The WC) has grants for non-profits or businesses that help women develop, lead, and give back. In order to get a free grant, applicants need to be focused on developing women leaders, whether in business or corporate role. Apply here. https://www.the-wc.org/grants/
March and April 2023
Startup Tucson and Community Investment Corporation Tucson is offering low cost, or interest free funds , as part of the Success Through Alternative Capital (STAC). The program is a little different in that the small business, including minority or women, is loaned money based on the applicant’s revenue as a form of “collateral”. It is form of revenue based financing. The repayment terms are flexibile based on the business revenue, and learn more here. https://cictucson.org/stac/
October 2022
Tempe AZ manufacturing businesses can apply for free $25,000 grants. The program is run in partnership, and with funding from Congressional Community Project Funding, Pacific Southwest Minority Supplier Development Council, Hustle PHX, RAIL CDC and others. The financial assistance is known as the BIPOC Micro-Manufacturing Grant, with money for small businesses owned by people of color that are manufacturing industries. Applicants need to have under 5 employees among other criteria, and apply here. https://www.tempe.gov/government/economic-development/small-business/bipoc-micro-manufacturing-grant/
October and November 2021
Maricopa County is giving millions of dollars to support small businesses in the county and Phoenix. the financial aid will be a very low cost loan, with assistance for veterans, BIPOC, veteran, and MWBE companies among others. Chicanos Por La Causa and Prestamos will be processing applications, reviewing candidates, and issuing loan funds. There is also free coaching and counseling, marketing and technical assistance and more. the loans and other support is part of the county resilience program. More info here. https://www.prestamosloans.org/mcloans/
October 2020
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
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
