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LoanPhoenix, AZActiveVerified

Phoenix Economic Development Forgivable Loan Program

City of Phoenix Office of Economic Development (PHX-OED)PHX-FORGIVABLERefreshed 1 month ago
Do I qualify?
Max funding

$2.0M

per applicant

Type

Loan

Below-market financing

Deadline

Rolling

No fixed cutoff

Timing

Rolling

Apply when you're ready

Complexity

Moderate

Underwriting required

About This Program

Provides forgivable loans to businesses relocating to or significantly expanding in Phoenix that create quality jobs. Loans forgiven over a 5-year period contingent on maintaining employment commitments.

Key Requirements & Eligibility

  • 1Business must be a new-to-Phoenix operation or major expansion
  • 2Minimum 25 new full-time jobs paying at least 100% of Phoenix MSA median wage
  • 3Capital investment commitment required
  • 4Loan forgiven 20% per year over 5 years if jobs maintained
  • 5Application before public announcement of location decision

Do I qualify?

Answer the questions below to get an instant self-assessment of your fit for this program. This is informational — final determinations are made by the administering agency.

0 of 5 answered

1.Business must be a new-to-Phoenix operation or major expansion

2.Minimum 25 new full-time jobs paying at least 100% of Phoenix MSA median wage

3.Capital investment commitment required

4.Loan forgiven 20% per year over 5 years if jobs maintained

5.Application before public announcement of location decision

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