The Office of Economic Opportunity (OEO) is publishing this notice to announce the third round of availability of funds for the Microbusiness Loan Program to provide funding to eligible lending organizations starting Fiscal Year (FY) 2024. The Microbusiness Loan Program is established in accordance with Laws 2023, Chapter 136, Section 4 and Laws 2023, Chapter 133, Section 28 and aims to support small business development throughout the state of Arizona, to bolster economic development and job creation and retention by providing low-interest loans to microbusinesses through eligible lenders.
Financial Notes:
Funding is made available by Laws 2023, Chapter 136, Section 4 and Laws 2023, Chapter 133, Section 28. The amount of remaining funding available for this third round of funding is $2,863,753, and the Office of Economic Opportunity reserves the right to issue multiple awards, not to exceed $2,000,000 per eligible lending organization. Grantees will be notified by February 1, 2025. Funds unexpended by the end of each grant period, without an approved written extension, must be returned to the Arizona Office of Economic Opportunity.
