SBA 7(a) Loans in Arizona

 SBA 7(a) loans in Arizona

You’ve dreamed, planned and thought about opening a business in The Grand Canyon State. Perhaps your business is already up and running and you’re looking to expand your operation. The only thing standing in your way is a lack of available funds. The good news is, there are plenty of options for funding -- even if you have poor credit, you’re a startup, or you need a very large (or very small) loan amount. Here are your options for an Arizona business loan.

Increase the Likelihood of Being Accepted for a Business Loan

The best way to set yourself up for approval is to resist the urge to apply for a loan right now. To increase the likelihood of being accepted when you apply for an Arizona business loan, do your homework before you fill out your loan application paperwork. You’ll need to have a solid picture of your financial standing, both from a personal and business perspective, and have any errors corrected on your credit report prior to applying. You may also need collateral or a down payment to demonstrate to lenders that you’re serious.

Here are a few more essential steps to take before applying for a business loan in Arizona:

Read the Criteria for Accepting Loan Applicants

Some programs will only lend money for certain types of loans (start-ups, equipment loans, working capital loans, etc.), and you’ll want to make sure that your needs are a match to the loan program. Other programs are geared toward the needs of specific business borrowers, such as women, people with disabilities, veterans or Native Americans.

Make Sure the Loan Program Will Lend the Amount you Need

Loan programs set maximum amounts they will lend at one time to an applicant. For example, the SBA 7(a) program lends up to $5 million. If your financial needs are higher than what you can borrow from a particular loan program, you may be better off looking elsewhere for your loan.

Learn: Commercial Real Estate (CRE) Loans

 Arizona SBA 7(a) financing 

Sources of Business Loans in Arizona

Here are some options if you are looking for an Arizona business loan. As noted above, investigate the applicants’ criteria to make sure you are a good fit before applying. You may be able to find this information on each program’s website, but for a deeper dive, the team here at SBA7a.loans can help connect you with exactly what you’re looking for.

PMHDC|PPEP Microbusiness & Housing Development Corporation

PMHDC is a non-profit organization that offers loans to small business owners living in southern Arizona. Applicants must reside in one of the following counties to qualify for this type of financing:

  • Cochise

  • Gila

  • Graham

  • Maricopa

  • Pima

  • Pinal

  • Santa Cruz

  • Yuma

PMHDC loans are available in amounts from $500.00 - $75,000.00 for start-up and existing businesses owned by US citizens or permanent residents. Applicants for this funding must not be in default on a federal loan, be conviction-free on fraud-related felony charges and not in default on child support payments. Applicants must also have a 20% or higher stake in the business.

S.E.E.D. (Self Employment for Entrepreneurs with Disabilities)

S.E.E.D. is a program specifically for Arizona residents with disabilities seeking to borrow $500.00 - $20,000.00. The funds can be used for purchasing any of the following:

  • Assistive technology

  • Business inventory

  • Furniture

  • Home or office modification

  • Office equipment

  • Supplies     

  • Vehicle modifications

Learn: Use an SBA 7(a) Loan to Purchase Equipment

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If you are interested in a S.E.E.D. loan, you must demonstrate that you have the means (monthly cash flow and positive credit rating) to pay the funds back. You will also need to provide proof that the funds, if advanced, will be used for one of the approved purposes.

Arizona SBA Business Loan

The Small Business Administration (SBA) loan program works with lenders to provide guarantees for entrepreneurs looking for funds to launch a new venture or expand an existing one. If you have put your own time and effort (personal or financial) into developing or growing your business, this could be a good fit.

Learn more: SBA 7(a) Loan Fact Sheet

Arizona SBA business loans are available to business owners who have exhausted other means of finding loan funds they need. If you can’t qualify for conventional financing, this may be a great option available to you.



To learn more about the SBA 7(a) loan program or to get a free quote, simply click the button below to connect with our partners at lendio!