“This partnership is about more than loans; it’s about building a sustainable future for our communities.”
In a move to reshape the economic landscape for small businesses across Northern Arizona, Growth Partners Arizona (GPAz), Moonshot AZ, and Local First Arizona have united to expand access to capital. This collaborative effort is part of a broader initiative launched by the State of Arizona, aiming to drive economic development, job creation and sustainability through the groundbreaking Microbusiness Loan Program.
As a tangible demonstration of this commitment, GPAz recently announced the opening of its new office on the Moonshot AZ campus in Flagstaff during an open house hosted by Moonshot AZ. “The event was impactful for the community and marked a significant step forward in GPAz’s dedication to Northern Arizona,” said Moonshot President and CEO Scott Hathcock. “Establishing this new office is not just symbolic but essential in ensuring that local small businesses receive the direct support they need to thrive.”
With a physical presence in the heart of the region, GPAz stated in a news release that it is now better equipped to offer hands-on assistance, strengthen community ties and respond swiftly to the unique challenges faced by local entrepreneurs, fostering a more connected and resilient business environment.
Northern Arizona is home to more than 50,000 small businesses, many of which are located in rural communities where access to traditional financial resources is limited. “These small businesses are the backbone of the local economy, creating jobs and driving innovation in a region that often faces unique economic challenges,” said Hathcock. “Despite their critical role, many of these enterprises struggle to secure the funding necessary for growth, expansion and sustainability.”
He added that this is where the partnership between GPAz, Moonshot AZ and Local First Arizona becomes a game-changer. “By pooling resources and expertise, these organizations are addressing a crucial gap in the financial ecosystem, providing microbusinesses – particularly those in underserved and rural areas – with the tools they need to succeed.”
“Our collaborative approach, anchored by our new Flagstaff office, is key to driving meaningful change,” said GPAz Executive Director Andre T. Whittington. “This partnership is about more than loans; it’s about building a sustainable future for our communities.”
The Microbusiness Loan Program, spearheaded by the Office of Economic Opportunity, is tailored to meet the specific needs of businesses with fewer than five employees. This program is designed to offer accessible and flexible financial solutions, enabling microbusinesses to expand their operations, hire new employees and contribute more robustly to the local economy, according to the news release.
The collaboration with Local First Arizona further extends this impact, with a dedicated focus on green lending and sustainable business practices – areas critical for the long-term health of Northern Arizona’s economy and environment, according to Hathcock.
“At Moonshot, our mission has always been to foster innovation and support the entrepreneurial spirit across rural Arizona,” he said. “This partnership with Growth Partners Arizona is a testament to our commitment to creating tangible economic opportunities for small businesses, especially those in rural and underserved areas. The establishment of the GPAz office on the Moonshot Flagstaff campus underscores the importance of having a direct, local presence to address the unique challenges our entrepreneurs face, ensuring that the economic future of Northern Arizona is brighter and more resilient than ever.”
Local First Arizona’s involvement amplifies the community-driven nature of this initiative. With a deep understanding of the local economic landscape and a commitment to sustainability, Local First Arizona is instrumental in ensuring that the benefits of this program reach remote and underserved areas of Northern Arizona.
“Local First saw first-hand the difficulties local businesses face when seeking access to capital when we distributed more than $52 million in federal relief funding to help them stay afloat during the pandemic,” said Local First Arizona Founder and CEO Kimber Lanning. “This new Microbusiness Loan Program, when paired with one-on-one business coaching, will be an enormous boost for small business owners and strengthen our economy across Arizona.”
By leveraging the combined strengths of GPAz, Moonshot AZ and Local First Arizona, the initiative is poised to create lasting economic opportunities, support job creation and ensure that Northern Arizona’s small businesses continue to be a driving force in moving the economy forward, said Hathcock. FBN
Photo courtesy of Anise Photography: Growth Partners AZ Executive Director Andre Whittington said the establishment of GPAz’s office on the Moonshot Flagstaff campus is key to driving meaningful change, supporting small businesses, and building a sustainable future for Northern Arizona communities.