EXPAND II Program - Small Business Expansion Assistance

EXPAND II is a job creation program administered by the city of Phoenix, Community and Economic Development Department (CEDD).  The program provides collateral assistance to help creditworthy businesses obtain loans from area lenders.  In 2011, the Phoenix IDA entered into a partnership with CEDD to provide funding to assist businesses address collateral shortfalls.

Any “for profit” retail, manufacturing, wholesale, or service company business located in the city of Phoenix needing additional collateral to obtain a commercial loan from area lenders is eligible to apply for assistance through EXPAND II.  Approved projects are eligible for collateral assistance of up to 25 percent of the loan, or a maximum collateral of $150,000.  A business must create at least one job for every $35,000 of assistance received.

CEDD and Phoenix IDA are prepared to partner with you to provide access to capital.  If you are considering a project that has a collateral shortfall, we encourage you to apply for assistance.  The EXPAND II Program is in need of qualified creditworthy referrals.

Questions regarding the EXPAND II Program should be directed to CEDD, Business Retention and Expansion Division, at 602.262.5040.  Application questions may be directed to Thomas Webb, Project Manager, Small Business Division, CEDD, at 602.534.0633.

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