Growth Partners Arizona Surpasses $1 Million in Microloans to Arizona Micro-Enterprises Through Statewide Partnership

PHOENIX, May 28, 2026 (Newswire.com) - Growth Partners Arizona (GPAz), a statewide Community Development Financial Institution (CDFI), has surpassed $1 million in microloans deployed to 39 Arizona small businesses through the Arizona Office of Economic Opportunity (OEO) Microbusiness Loan Program, marking a significant milestone in expanding access to capital for Arizona's smallest businesses.

Launched to support Arizona microbusinesses, defined as businesses with five or fewer employees, the program provides flexible financing paired with technical assistance to strengthen local economic growth and entrepreneurial success. Eligible businesses can access loans ranging from $2,000 to $50,000 to support operations, working capital, equipment purchases, commercial improvements, and long-term business stability.

"This is a major milestone and a testament to Governor Hobbs' vision of fostering economic growth and creating jobs throughout the state by providing low-cost capital to Arizona microbusinesses," said OEO Director Mary Foote. "Further, the capital provided through the Microbusiness Loan Program, when paired at the required 3:1 ratio with additional private and/or federal funding, effectively turns the state's $5 million investment into $20 million of capital available to microbusinesses."

The milestone represents more than dollars deployed. It reflects the growing effectiveness of a statewide, partnership-driven approach to helping entrepreneurs; particularly those historically excluded from traditional financial systems, access the capital, guidance, and support needed to build resilient, sustainable businesses. Through the OEO Microbusiness Loan Program, GPAz partnered with Local First Arizona, Moonshot, and Community Investment Corporation (CIC Tucson) through the BIPOC Loan Fund to connect entrepreneurs with mission-aligned financing and trusted community-based support.

Together, these partnerships helped extend capital to businesses operating across urban, suburban, rural, and frontier communities throughout Arizona, including Maricopa, Pima, Coconino, Yavapai, Mohave, La Paz, Navajo, and Pinal counties. Businesses served represented a broad cross-section of Arizona's economy, including retail, restaurants, childcare, health and wellness, construction, janitorial services, education, technology, food businesses, skilled trades, and recreation.

"This milestone reflects what becomes possible when organizations work collaboratively and deliver boldly to solve economic challenges. Together, we are helping entrepreneurs strengthen their businesses, create jobs, and expand economic opportunity in communities across Arizona," said Andre T. Whittington, Executive Director of Growth Partners Arizona.

For Growth Partners Arizona, the milestone reflects a broader commitment to creating clear pathways, real support, and capital that fits. Over the last three years, GPAz has deployed more than $3.2 million in direct loans and facilitated an additional $900,000 in indirect funding to Arizona small businesses and nonprofits across 12 of Arizona's 15 counties, reinforcing its statewide strategy to expand equitable access to capital through partnerships, financial capability building, and mission-aligned lending.

As Arizona continues investing in entrepreneurship and local economic resilience, this milestone serves as proof of what becomes possible when mission-driven lenders, trusted community partners, and public institutions work together to expand access to opportunity. For GPAz, surpassing $1 million in microloans is not a finish line; it is a signal of what collaborative, community-rooted capital can achieve.

CONTACT:

Andre T. Whittington
Executive Director
[email protected]
602-478-5568

SOURCE: Growth Partners Arizona

Source: Growth Partners Arizona