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Trever Fleetham, AICP   

Economic Development & Planning Manager

 

303 N. Beeline Highway       

Payson, AZ 85541
 

Office: (928) 472-5046

Cell: (928) 978-9584
Email:​
econdev@paysonaz.gov

Our mission is to maximize the region's economic prosperity and position the Greater Payson Area as a state leader in education, workforce, and light industry.

Financing your Business

Financing your Business

Now that you have an established business (two or more years in operation) and have demonstrated that your business is fiscally sound, you might be considering the next stage of your business. Need more working capital? Looking to upgrade your equipment? Then a business loan might be the right choice for you.

To qualify for a business loan, owners typically must demonstrate the five “Cs” of lending: capital (owner’s monetary contribution to loan), capacity (ability to repay debt), collateral (assets in case of default), cash flow (ability to pay business costs while leaving sufficient operating cash) and character (owner’s experience and financial credit).


Financial Planning Assistance
For free help on how to qualify for a business loan or the requirements for putting together a successful loan package, visit our financial planning page.

Attend a Business Financial Workshop
Consider attending a business workshop to sharpen your financial skills.

Sources of Financing


Your local bank or credit union
You’re in a good position to apply for a loan now because most banks only provide funding to businesses with a track record of two or more years. If you can demonstrate your business has value and tangible assets as collateral, banks are more interested in doing business with you.


Small Business Administration (SBA) Loans
SBA Loans are intended to assist businesses that might not otherwise qualify for a traditional commercial bank business loan. These loans are guaranteed by the SBA, a federal agency, and are administered by participating commercial lenders, not the government. Similar to a commercial bank business loan, all applicants must have equity, ability to repay the loan and management skills. Interest rates are typically higher than commercial bank business loans since SBA loans approve higher risk borrowers. Visit the SBA website for a list of participating SBA lenders in Arizona and click on “Find a Lender”. If you are a military veteran or member of the veteran community (spouse, widow), you may qualify for the SBA Patriot Express Loan.