We help strengthen the financial capacity of nonprofits through affordable and flexible loans and provide business guidance for staff and boards of directors.

Growth Partners Arizona (GPAz) loan experts work one-on-one with your organization to customize a loan based on your organization’s needs. We make the process as easy as possible and ensure that you are involved every step of the way.

GPAz helps your organization develop effective financial practices so you can devote more time to the people and communities you serve. When you borrow from GPAz and pay the loan back on time, you improve the credit history of your nonprofit, making it easier in the future to borrow from a bank. And, you “pay it forward” by making loan funds available for other organizations.

 

Purpose

Growth Partners Arizona loans can support:

  • Program growth and expansion
  • Equipment purchases
  • Tenant improvements and property renovations
  • Bridge cash flow gaps while your nonprofit awaits:

                   – pledges and donations

                   – conclusion of major fundraising campaigns

                   – seasonal revenues from sources like tuiton sales, memberships or subscription fees, or grants and other reimbursements.

 

Eligibility

  • Be a 501(c)(3) nonprofit entity with a current tax-exempt status certified by the IRS.
  • Be based in Arizona.
  • Be registered, and certified as in Good Standing, with the State of Arizona Office of the Corporation Commission.
  • Have a minimum of 2 years in operation.
  • Have minimum annual revenues of $100,000.
  • Include at least three (3) non-related members of the board of directors who are not employees of the organization.
  • Note: preference will be given to organizations located in and/or providing services in CDFI investment areas.

 

Terms

  • $10,000 – $200,000 loan range (larger loans considered with other lenders)
  • Terms from six months to five years (loan amortization may be longer)
  • 6.25% interest rate + 3% fee (fixed for the entire term)
  • No prepayment penalty
  • Rolling application deadline
  • $100 application fee; other fees may apply

 

Application

To obtain an application please email [email protected] or call 520.382.9218 ext 4

To process your application please submit the following:

  • Completed GPAz Loan Application and $100 application fee;
  • Organization mission statement and overview of the organization, services and impacts. The impact statement should emphasize how the GPAz loan funds will help economically disadvantaged members of the community;
  • Proof of IRS Certification of 501(c)(3) non-profit status;
  • Two years of federal 990 tax returns (not required if audited financial statements are provided);
  • Two years of historical Balance Sheet and Profit and Loss financial statements (audited if available);
  • Current year-to-date financial statement (most recent Board-approved financials, usually current within 45 days);
  • Current year’s budget and next year’s budget, if available.
  • A list of Board members/affiliation/contact information.

Questions? Contact us for more information.