Just over a year after its launch, the Arizona Microbusiness Loan Program is already making an impact on entrepreneurs across the state.

Gov. Katie Hobbs launched the program in 2024 through the Arizona Office of Economic Opportunity (OEO) to close funding gaps for the state’s smallest businesses. The program set aside $5 million in state funds to provide low-interest loans, financial education and support for microbusinesses with five or fewer employees.

INDUSTRY INSIGHTS: Want more news like this? Get our free newsletter here

“These businesses are Arizonans. They’re local, they’re here. They are critical to everything that we do, and we need to support them,” OEO Director Mary Foote said.

Arizona is home to roughly 85,000 microbusinesses, which OEO Marketing and Communications

See Full Page