Growth Partners Arizona and Local First Arizona Partner to Launch a Transformative Microfinancing Program for Small Businesses in Avondale, AZ
AVONDALE, Ariz., November 30, 2023 (Newswire.com) - In a significant step towards community development and economic empowerment, Growth Partners Arizona (GPAz) and Local First Arizona are proud to announce a collaborative venture launching in early 2024. This initiative, made possible by a $400,000 grant from the City of Avondale, will introduce a microfinancing program designed to bolster small businesses within the community. Focusing on Avondale-based businesses, the program will also support those looking to establish or transition to a physical address in Avondale. While the program is open to all small businesses in the area, there is a special emphasis on assisting those operating in key sectors such as Healthcare/Medical, Green Technology/Green Manufacturing, and Restaurants.
"Our strategic focus at Growth Partners Arizona is to nurture a diverse spectrum of businesses, thereby enriching Avondale's economic fabric and opening doors for growth across all sectors. By channeling support and resources into these vital areas, we are not just aiding individual businesses; we are cultivating a dynamic and resilient local economy that will thrive for generations to come," said Andre T. Whittington, CEO, Growth Partners Arizona.
This program marks a shift from conventional financing, focusing on entrepreneurs' unique strengths and goals. It seeks to level the playing field for those often overlooked by traditional banking, fostering an inclusive business environment in Avondale. The program is poised to significantly impact Avondale’s economy and community. By supporting small business growth and development, it will create jobs, enhance the marketplace, and contribute to the city’s overall vitality. It aims to build a thriving community where every entrepreneur has the opportunity to succeed.
Avondale Mayor Kenn Weise said the city of Avondale is excited to offer this grant to Growth Partners Arizona. “Growth Partners Arizona will be administering a first-of-a-kind micro-financing program to Avondale small businesses, allowing them an opportunity to grow, upgrade, and achieve their long- and short-term goals. Small business owners and entrepreneurs of all types are the bedrock of a sustainable and strong economy. Avondale understands this and is looking forward to helping small business owners succeed.”
Local First Arizona founder and CEO Kimber Lanning noted, “Business owners with great ideas are held back because they don’t have enough money to get off the ground, hire or expand. Together with the City of Avondale and Growth Partners Arizona, we’re flipping the paradigm. These loans will empower local entrepreneurs to strengthen the economy.”
Data from Small Business Majority underscores the difficulties minority entrepreneurs face in accessing capital. To combat these challenges, Growth Partners Arizona (GPAz) and Local First Arizona are forging active partnerships with local organizations, enhancing the program's scope and efficacy. This collaboration is designed to empower participants and invigorate the community.
For more information, contact Growth Partners Arizona at info@growthpartnersaz.org.
Source: Growth Partners Arizona
