Growth Partners Arizona Loan Programs
Frequently Asked Questions

General Questions

  1. What types of loan programs does Growth Partners Arizona (GPAz) offer?
    Growth Partners Arizona provides affordable and flexible loan options tailored to small businesses and nonprofits. Our programs include:
      • Small Business Loans: For growth, working capital, or specific business needs.
      • Nonprofit Loans: Designed to support cash flow, project financing, or operational stability.
      • Kiva Loan Assistance: Zero-interest, crowdfunded loans for businesses needing smaller funding amounts.
  1. Who is eligible for a loan through GPAz?
    We serve small businesses and nonprofits in Arizona, particularly those in underserved or rural communities. Eligibility varies by program, but key factors include:
      • Located in a CDFI Investment Area or located in an underserved community.
      • A demonstrated need for funding.
      • Viable financial plans and revenue streams.
      • A commitment to benefiting the local community.
  1. What are the loan amounts offered?
    Loan amounts range depending on the program:
      • Small Business Loans: Typically $15,000–$150,000.
      • Nonprofit Loans: Up to $200,000.
      • Kiva Loans: $1,000–$15,000 (crowdfunded).
  1. What are the interest rates and terms?
      • Small Business Loans: Competitive interest rates, typically lower than traditional lenders. Terms range from 12 to 60 months.
      • Nonprofit Loans: Fixed rates with flexible repayment schedules.
      • Kiva Loans: 0% interest, with repayment terms of up to 36 months.

 

Application Process

5. How do I apply for a loan?

To apply:

      • Visit our website and complete the online pre-application form.
      • Submit required documentation, such as financial statements, tax returns, and a business plan.
      • If you have questions, schedule a consultation with a GPAz team member.

6. How long does it take to process my application?
The process typically takes 1-2 weeks from submission of a completed loan application to funding. However, timing may vary depending on the loan program and your ability to provide all required documents.

7. What documentation is required for my application?
Commonly required documents include:

      • For all required documents check our checklist in the Get Loan Ready Section.

Loan Use, Resources, and Support Questions

8. What can I use the loan for?

Eligible uses include:

      • Working capital
      • Equipment or inventory purchases
      • Real estate acquisition or improvement
      • Bridge funding for nonprofit grants
      • Emergency expenses

9. Are there restrictions on how I use the funds?
Funds must be used for business-related purposes that align with the approved application. Personal expenses are not allowed.

10. What support does GPAz offer beyond loans?

We provide:

      • Business coaching and financial literacy training.
      • Assistance with the Kiva crowdfunding process.
      • Connections to local resources and mentorship programs.

11. What if I have difficulty repaying my loan?
We work with borrowers to create manageable solutions. If you’re experiencing challenges, reach out to our team immediately to discuss options to help you get back on track.

12. Do you require collateral for loans?

Collateral requirements vary by program. Small Business Loans may require collateral, while Kiva Loans and some Nonprofit Loans do not.

13. Can startups apply for a loan?
Yes, startups are eligible, particularly if they have a strong business plan and clear revenue projections.

14. How is GPAz different from traditional lenders?
Our focus is on serving Arizona’s underserved communities, offering flexible terms, personalized support, and affordable rates. We also prioritize impact over profit, ensuring our loans contribute to community growth.