Growth Partners Arizona and HUUB Partner to Launch Transformative ‘EmpowerEdge’ Program for Small Businesses in Central and Southern AZ
PHOENIX, June 6, 2024 (Newswire.com) - In a significant step towards community development and economic empowerment, Growth Partners Arizona (GPAz) and HUUB are proud to announce a collaborative venture launching in Central and Southern Arizona. The EmpowerEdge program, made possible by a $400,000 grant from Wells Fargo, represents a groundbreaking fusion of technology, education, and financial support, specifically designed to bridge the funding gap that hinders the potential of local small businesses.
Small businesses stand as the backbone and heart of Arizona's dynamic economy, driving innovation, creating jobs, and enriching communities. Despite their pivotal role, many of these enterprises need help to grow, particularly in securing the capital necessary to thrive. This challenge is even more pronounced among underserved and minority-owned businesses, which often encounter systemic obstacles in accessing financial resources.
EmpowerEdge introduces a transformative solution to this critical issue. Small businesses constitute over 99% of all businesses in Arizona, employing millions and serving as a vital source of innovation and community development.
EmpowerEdge leverages HUUB’s cutting-edge network and technology to connect small businesses to capital. This platform will help entrepreneurs assess their capital readiness and access a range of funding solutions from character-based products to traditional CDFI financing, fostering business growth and community prosperity.
Reflecting on the role of EmpowerEdge as a key player in Arizona’s economic development, Andre Whittington, Executive Director of Growth Partners Arizona, states, “This is a transformative initiative designed to ignite the potential of Arizona’s small businesses. By leveraging technology to assess borrowers’ readiness for funding and connecting them to trusted lending partners, we are combating predatory lending and building community trust. Thanks to the generous support from Wells Fargo and our partnership with HUUB, this initiative is the first phase in our strategy to ensure every entrepreneur has the opportunity to succeed and contribute to Arizona's vibrant economy.”
Jenny Poon, HUUB CEO, adds, “We are thrilled to embark on this significant initiative alongside our incredible partners. It's an honor to work together on a technology solution that creates pathways to economic prosperity for all. Drawing from my own experiences with applying for loans and the widespread challenge of accessing capital in our communities, I am deeply committed to making funding universally accessible to entrepreneurs.”
“We hope our support will truly empower Arizona entrepreneurs who want to build businesses and create better lives for their families and their community,” shared Katie Campana, Philanthropy and Community Impact Lead Specialist for Wells Fargo. “Wells Fargo is proud to continue to champion Growth Partners Arizona’s mission to provide greater support to small business owners and ultimately, help strengthen the small business ecosystem for the long term.”
We invite everyone in Central and Southern Arizona to join us on this empowering journey. Together, we can foster a thriving, inclusive business ecosystem, uniting to make Central and Southern Arizona beacons of innovative, community-driven economic success.
Source: Growth Partners Arizona
