Tucson is the second most populous city in Arizona with a population of 520,116 in 2016, and is the anchor of the Tucson metropolitan area, which had a 2010 population of 1,010,025. The city is located 108 miles (174 km) southeast of Phoenix and 60 mi (97 km) north of the U.S.-Mexico border. Tucson is the 33rd largest city and the 53rd largest metropolitan area in the United States.

The economy of Tucson is diverse and driven by several large industries. The city is a major center for the mining of copper, silver, and other minerals; it is also home to a number of manufacturing plants, including those that produce aircraft, missiles, optics, and other high-technology equipment. The service sector is also important to the city's economy, and Tucson is a major center for the medical and financial industries. The University of Arizona is a major economic engine in the city, as are the Davis-Monthan Air Force Base and the Port of Tucson. Tourism is also a significant industry in Tucson, with the city being a popular destination for winter visitors from all over the United States.

Small businesses are a vital part of the Tucson economy, accounting for over half of all private-sector jobs in the city. The city government is committed to supporting small businesses, and offers a number of programs and resources to help them start, grow, and thrive. Tucson is also home to a number of incubators and accelerators, which provide early-stage companies with the resources they need to succeed.

Comparing SBA Loan Types in Tucson

Our Experts

When it comes to small business loans, the SBA 7(a), SBA 504, and SBA Express programs are some of the best options available. Boasting favorable terms and low rates, these financing vehicles can provide up to $5 million for your business plans.

SBA 7(a) Loans specifically connects small business owners with lenders across the country who are prepared to offer the very best terms to support their businesses. If you're looking to buy commercial real estate or equipment, or if you need access to repair capital, SBA 7(a) loans should definitely be one of your top options.

Our experienced team will provide you with the very best terms from our network of lenders to ensure your business has what it needs to succeed. We offer this service completely free of charge.

Looking for more information about Tucson? Read on below. Otherwise, click the button below, and we'll get right back to you with your free SBA 7(a) loan quote.

Small Business Loans Available in Tucson

There are several options for small business loans in Tucson. The Small Business Administration (SBA) offers several loan programs, including the 7a, 504, and Express programs, that can be used for a variety of purposes, such as working capital, equipment, and real estate. SBA loans are backed by the government and usually have lower interest rates and longer repayment terms than other types of loans.

1. SBA 7(a) Loans

The SBA 7(a) loan program is the Small Business Administration's most popular loan program. It can be used for a variety of different purposes, from working capital to equipment and even real estate. An SBA 7(a) loan's interest rate is generally lower than interest rates on conventional loans. Loan terms are also longer than most conventional loans, which keeps monthly debt service costs low. SBA 7(a) loans are capped at $5 million.

2. SBA 504 Loans

The SBA 504 program is aimed at businesses looking to acquire heavy equipment or fixed assets or for purchasing or developing real estate. Loan terms are typically up to 10 years for equipment purchases and 25 years for real estate, and interest rates are generally lower than most conventional financing options.

3. SBA Express Loans

SBA's Express Loan program are designed for speed: While loans max out at $500,000, the application turnaround time is just a few days. This convenience does not come for free, with interest rates generally higher — and repayment schedules typically shorter — than other SBA loan types, which increases the cost of debt service.

If you are interested in applying for a small business loan in Tucson, we’ll match you with the best lender: Click here for a free quote.

Getting the Right Insurance for Your Property

If you own the property you operate out of, you'll need adequate insurance in place as part of the SBA financing process. Unfortunately, the cost of property insurance has shot up in recent years — and not just in the disaster-prone areas that may immediately come to mind.

Janover Insurance Group is happy to provide you with a free, zero-obligation quote on insuring the commercial real estate your business owns and occupies. Simply click here to get started.