A brand new
capital & coaching
resource for
Tucson.
Serving women,
minority, and
veteran-owned
small businesses.
Pioneering
Relationship-
Based Lending
What is "Relationship-Based Lending"?
Traditional lending can make you feel like a number, but we see the hardworking, hustlin', business owner you are.
We are reinventing lending from the ground up with YOUR business success and YOUR needs at the heart of every decision.
We look past the numbers on a page to your potential, your experience, and your growth mindset. We invest in YOU and walk alongside you every step of the way.
Barrier-Busting
You are so much more than your credit score.
Credit scores and collateral are some of the top reasons women, minorities, and veterans struggle to secure loans. We got rid of those barriers.
Character-Based
Your community believes in you, so do we.
Your business impacts lives around you.
Character references and mentors will be part of your journey, celebrating your wins and cheering you on when times get tough.
Executive-Coaching & Training
Building your dream business can get lonely: we are better together.
You will get powerful executive coaching alongside owners, founders, and CEOs just like you.
You will have access to one-to-one mentorship, technical assistance, and workshops - all free of charge!
When you succeed, we all succeed!
Why Coaching & Capital?
Our program is designed for business owners who are ready to level up. It won't be easy, but you won't be in it alone.
Alongside capital, we will load you up with the tools you need to thrive. Committing yourself to program participation is required for funding.
When you are funded, experts will analyze your business and develop a customized Loan Success Plan, a roadmap for growth and financial success, based on YOUR goals.
As you start your journey, you will meet monthly with a group of peers and experts to keep you feeling motivated and on track to success.
Throughout the life of your loan you will have access to one-to-one mentorship and coaching. Quick text check-ins will help you stay looped in and on target.
EVEN MORE PERKS
Promotional Package
Let's get you started off right.
Every company funded through our program will get a free promotional package to help amplify your business! Our promotional package includes a media blast of photos, videos, and quick interviews we share online while you're in the program and even after you've "graduated".
Flexible Repayment
Don't let the summer months bring you down, Tucson!
We understand that some business are seasonal. You can adjust your repayment month to month to accommodate those dog days of summer (or winter or whenever seasons impact your business).
Full Service Application Support
Taking the first step is what matters, we can help you with the rest.
Fair warning, a loan application is a lot of paperwork! But we got you! Through a partnership with the City of Tucson, you can get customized support to gather up what you need throughout the application process.
THE BASICS
Loan Sizes
$15,000 - $250,000
Loan Uses
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Working capital
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Machinery & equipment (including, but not limited to, software, computer equipment, licenses and acquisition of other related property)
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Facade improvements (energy upgrades, interior upgrades)
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Purchasing Property
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Business Acquisition/ Employee Buyout
Interest Rates
-
Interest rates we offer are based on the Federal Funds Rate plus 1% - 5%
Fees
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2% origination fee
-
Late payments without prior notification may result in additional fees. Review program documents for the full description of non-payment actions.
Want to find out what your monthly loan payment could be?
ELIGIBILITY
Your business must be owned (at least 51%) by women, minority, or veteran small business owner.
Your business must have at least 12 months of revenue.
Your business must be located in the Tucson Metro Area.
Your debt to income ratio must be within acceptable perimeters.
RESTRICTIONS
Currently our program has some restrictions on the types of businesses we can support and how the capital can be used. Please read these restrictions carefully.
Restricted Loan Uses
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Refinancing existing debt
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Investing or lending
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Personal uses outside of business needs
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Investment properties (commercial real estate must be at least 50% owner occupied)
Restricted Businesses
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Less than 12 months of demonstrated revenue
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No more than 25% of your sales comes from firearms, related accessories, or ammunition, in each instance intended for civilian use; alcoholic beverages; cannabis or cannabis-derived products (other than products used for therapeutic purposes approved by the FDA); or tobacco products
-
The following industries are ineligible for AVANZA funding: alternative finance services (check cashing, pawn shops, coin sales, high interest lenders, etc), gambling or lotteries, collection services; political campaigns, committees, candidates, or politically affiliated activities; speculative businesses (mining, house flipping, product R&D); Pornography; multi-level (or “Referral”) Marketing Companies; or businesses whose products are not legal, either federally or in other states in the U.S.
The Application Window for the 2023 Cohort is Closed
Thank you for your interest in AVANZA! We have closed the applications and will reopen applications later in the year.
Please check out our other loan products for more funding options in the meantime!
We will begin accepting applications in Summer/Fall 2024
Would You Like Help With Your Application?
Through our partnership with the City of Tucson Small Business Navigator's Program, you can receive free one-to-one support completing your application. ¡Somos bilingües!
Gisselle Coronado
Gisselle offers business support in English and Spanish.
Contact Gisselle for one-on-one support at:
520-500-7533 | Gisselle.Coronado@tucsonaz.gov
Narda Flores
Narda offers business support in English and Spanish.
Contact Narda for one-on-one support at:
520-484-3093 | Narda.Flores@tucsonaz.gov
THE PROCESS
The application process takes between a month and two months and will require a number of steps. But don't worry, we have lots of templates and personalized support to help you throughout the process.
Welcome Form
A high-level, simple form that should take no more than 5 -10 minutes. This helps our intake team to understand if your needs match our loan program or others in the community.
Discovery Meeting
Within a few days of recieving your Welcome form, you will hear from a team member to set up a Discovery Meeting where we will learn a little more about your business and you have a chance to ask questions about the program!
Complete Application
Part 1
-
1-3 Years Business Tax Returns
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1 Year Personal Tax Return
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3 Mo Bank Statements (business and personal)
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Balance Sheet
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Profit & Loss Statement
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Personal Financial Statement
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Schedule of Business Debts
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Loan Use Statement
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Credit Report (self-pulled. Your credit score will not impact your approval)
Part 2
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Business Model Canvas
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Character References
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Business Budget
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Lease Agreement & Landlord contact (if applicable)
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Articles of Incorporation (if applicable)
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Photo ID
-
W9
Application Review
Our team will review your application and create a summary to send to the Loan Committee, who makes the final decision. As part of the review, our team will also complete additional verification through:
-
Site Visits
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Character Reference Checks
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Landlord Interview (if applicable)
Loan Committee Review & Presentation
Our trained Loan Committee reviews applications, provides feedback, and recommendations.
If the application is selected to move forward, the business owner will be invited to present to the Loan Committee in person.
Funding & Next Steps
When your application is funded, you will receive:
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An Orientation to your Loan
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A Loan Success Plan
-
Promotional Package
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Executive Coaching & Mentoring
News
Arizona Daily Star
23 February 2023
Tucson to create loan fund to help minority-owned businesses
Tucson’s small business owners belonging to underrepresented communities will soon be able to receive resources to help them grow and maintain their ventures through a new loan fund that will provide capital for operations.
KOLD
This month the Tucson Industrial Development Authority in partnership with the city of Tucson Department of Economic Initiatives will start the Avanza Empowerment Fund, a loan program aimed at helping mainly women-, minority- and veteran-owned businesses unique to Tucson.