Arizona Innovation Accelerator Fund Program

The Arizona Innovation Accelerator Fund Program is an $18.2 million loan participation program funded through the U.S. Department of Treasury’s SSBCI and managed by the Arizona Commerce Authority. The goal of this program is to stimulate financing to small businesses and manufacturers, in collaboration with private finance partners, to foster business expansion and job creation in Arizona.

What is the State Small Business Credit Initiative (SSBCI)?

  • The SSBCI is a Federal program administered by the U.S. Department of the Treasury to strengthen state programs that support private financing to small businesses and manufacturers.
  • In conjunction with leveraged private financing, the SSBCI will spur lending to small businesses and manufacturers that are not getting the loans or investments they need to expand and create jobs.
 

What is the Arizona Innovation Accelerator Fund Program?

  • The Arizona Innovation Accelerator Fund Program is an $18.2 million loan participation program funded through the U.S. Department of Treasury’s SSBCI and managed by the Arizona Commerce Authority.
    • The goal of this program is to providing financing to small businesses and manufacturers, in collaboration with private finance partners, to foster business expansion and job creation in Arizona.
    • This is a five-year program ending December 2016
  • The Arizona Innovation Accelerator Fund will participate in debt financings to Arizona businesses rapidly expanding and in need of resources to capitalize on market opportunities.
    • This loan participation program will be used to fund financing packages that include both public and private capital and is not a grant program.
    • ACA's loan participation in these financing packages may range from $50k to $2mm.
    • Loan proceeds are to be used for working capital, inventory, equipment purchase, and real property improvements but cannot be used for refinancing of existing debt or outstanding debt payments.

When can small businesses and manufacturers apply?

  • The ACA is developing program guidelines for its Arizona Innovation Accelerator Fund Program with the goal of implementation in the first quarter of 2012. Applications will be received at that time.

Who is eligible to apply?

  • Small businesses (less than 500 employees).
  • Eligible borrowers must be an existing corporation, limited liability company, partnership or other business entity (sole proprietors are not eligible) and maintain a portion of its operations in Arizona, or have the intent to establish new operations in Arizona.
  • The ACA will target industries including renewable energy and sustainability, bio and life sciences, electronics, information technology, aerospace and defense, and advanced manufacturing.

If you are interested in applying for the Arizona Innovation Accelerator Fund Program, please download the PDF below which contains the program's guidelines and application instructions.

AIAF Program Summary and Guidelines (pdf)
AIAF Application / Intake Form (xls)