Business Financing
Small Business Administration (SBA)
7(a) Loans
SBA’s most common loan program and the best option when real estate is part of a business purchase. Can also be used for:
- Short- and long-term working capital
- Refinance current business debt
- Purchase furniture, fixtures, and supplies
Maximum loan amount is $5 million. Eligibility based on business type, credit history and business location.
Click Here to find a lender in the area to apply.
504 Loans
Provides long-term, fixed rate financing of up to $5 million for major fixed assets that promote business growth and job creation.
Loans available through Certified Development Companies (CDCs), who are certified and regulated by the SBA.
Eligibility requirements:
- For-profit company in the United States or its possessions
- Net worth of less than $15 million
- Average net income of less than $5 million after federal income taxes for two years preceding application
Click Here to find a lender in the area to apply.
Microloans
Provides loans up to $50,000 for small businesses.
Average microloan is about $13,000.
Loans available through specially designated intermediary lenders—each having its own lending and credit requirements.
To apply, work with an SBA Intermediary in your area.
For more information about SBA loans, contact:
Karen Allen
Senior Area Manager for Northern Arizona
U.S. Small Business Administration
480-459-0748
karen.allen@sba.gov
USDA Rural Development
Business and Industry Guaranteed Loan Program
This program offers loan guarantees to lenders for their loans to rural businesses in Arizona. Interested borrowers should inquire about the program with their lender.
Click Here for more information about this program.
Business Development Finance Corporation (BDFC)
Grow Arizona Direct Loan Program
Loan program for borrowers who do not meet qualifying criteria for SBA 504.
Contact:
3300 N. Central Ave., Suite 600
Phoenix, AZ 85012
602-381-6292
Private Activity Bonds
Private Activity Bonds are securities issued by or on behalf of a local government to provide debt financing for projects used for the trade or business of a private user. The interest on the bonds is exempt from federal income tax by most bondholders. The PAB program can be used for the construction of industrial and manufacturing facilities and the purchase of equipment, residential rental projects, facilities for the furnishing of water, sewage, and solid waste facilities and more.
Bonds for manufacturing facilities are limited to $10 million by federal law and no one company may have more than $40 million in PAB’s outstanding at any one time.
For more information contact Navajo County IDA:
William Wilder, General Counsel
Ryley, Carlock & Applewhite
One North Central Ave., Suite 1200
Phoenix, AZ 85004
602-440-4802