Areas Served: City of Phoenix
The EXPAND Program assists Phoenix businesses in obtaining loans from eligible local financial institutions.
EXPAND provides additional collateral, up to 50 percent of a loan amount in some cases.
The amount of the collateral enhancement can range as high as $150,000. There is no ceiling on the loan amount.
Loans can be for virtually any legitimate business purpose.
Jobs creation or jobs preservation is an essential element of any request for EXPAND assistance.
With EXPAND, the successful applicant/borrower is able to receive a loan and the lender is in a more secure collateral position.
Eligible Businesses:
– Be owned by a citizen or a lawful permanent resident of the United States.
– Have a net worth of no more than $7.5 million and profits (after federal income tax) of no more that $2.5million, averaged over the past two years
– Be located within the City of Phoenix (special consideration will be given to businesses in the City’s redevelopment areas)
– Be a for-profit retail, manufacturing, wholesale, or service company
– Have at least two years of operating history
– Although the program does not prohibit assistance for start-up ventures, they will be considered only in exceptional cases
Eligible Projects:
– Land acquisition for commercial development
– New construction
– Purchase or remodel of existing building
– Working capital needs
– Leasehold improvements
– Business acquisitions
Contact InformationAddress: 200 W Washington St
City: Phoenix
State: Arizona
Website:
https://www.phoenix.gov/eod/programs
Leave a Reply