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. Current rates will be located on our business loan programs page.
      • 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.
      • Pay application fee of $100 

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?
You’ll need a business plan, a completed loan application with the $100 fee, your business’s current income and expenses, a list of any business debts, and a projection of what you expect to earn over the next year. We’ll also need a recent snapshot of your personal finances and your last two years of personal tax returns if you own 20% or more of the business

Financial Requirements & Credit

8. Do I need a certain credit score?

While there’s no set score, we consider your overall financial profile and history of repayment. If you have concerns about your current credit profile be sure to discuss your concerns with our team prior to applying for a loan. This will ensure you provide you with the best path forward. 

9. Can I apply with a bankruptcy on my record?
We are unable to accept applicants with bankruptcies filed or discharged in the past two years.

10. What if I owe back taxes?

Applicants with back taxes may still qualify for one of our alternative program if they are on a repayment plan and current with payments. Please connect with our lending to discuss your current situation. 

11. Can I get a loan if I currently have have business debt?
Yes, but we will evaluate your current debt and how additional funding would impact your business cash flow

12. How do you evaluate my ability to repay?

We review your business’s financials, debt obligations, revenue trends, and personal financial strength.

13. I am behind on my business or personal tax returns can I still apply for a loan?
Unfortunately we are not able to lend to business owners who are not current in filing their business or personal taxes.  

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.

Approval & Next Steps

15. How will I receive the funds?

Approved funds are disbursed directly to your business bank account via ACH or wire transfer within 24 hours of signing loan documents.

16. How do I make loan payments?
All loan Repayments are required to be made monthly via automatic bank transfer or your preferred method. Loan repayments are processed on the first of each month until your loan maturity date. 

17. What support does GPAz offer after the loan is disbursed?

Our relationship continues after disbursement—we offer coaching, check-ins, and access to additional resources. We encourage all our borrowers to join GrowthHUUB to stay up to date with support, resources, and connections to grow their business. 

18. 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.

 

If you still have questions about the process, use the link below to connect with our team today. 

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