Trinity Capital Inc. announced the commitment of $35 million in equipment financing to ApiJect Systems, Corp, a public-benefit medical technology company focused on prefilled, single-dose injection devices. Based in Stamford, CT, ApiJect works with pharmaceutical companies to design rapidly scalable, cost-efficient drug delivery systems, and then assists in manufacturing … [More]
Arizona among States with Top Real Estate Fraud Losses across the U.S.
A new study reveals which states have lost the most money to real estate mortgage scams. Arizona ranks sixth for losses to real estate fraud, at an average of $29,787.31 per victim. The study by Florida personal injury lawyers Anidjar & Levine analyzed all 50 states based on the average amount of money lost to real estate fraud. The real estate fraud loss … [More]
$250M Joint Venture Partnership Aims to Empower Small Businesses and Drive Local Economic Growth
Peoria-based AVANA Companies and funds managed by Oaktree Capital Management L.P. announce the formation of a new $250MM AVANA-Oaktree Private Credit Partnership for its direct private commercial real estate lending strategy. Through the Joint Venture, AVANA will use the capital to provide private debt financing in the United States over the next three years. AOPCP aims to … [More]
Valley-Based Credit Union Named Official Banking Partner of NAU
Desert Financial Credit Union announces their partnership with Northern Arizona University (NAU) as the official banking partner of NAU Athletics and the NAU Alumni Association. As banking partner, Desert Financial will be the exclusive provider of NAU-branded debit and credit cards, collaborate on ongoing community engagement initiatives, and deliver financial literacy … [More]
Arizona Launches Microbusiness Loan Program to Facilitate Economic Development and Job Creation throughout State
The Arizona Office of Economic Opportunity (OEO), launched the Arizona Microbusiness Loan Program to foster economic development and job creation in communities throughout Arizona. The Arizona Legislature established the program last year to provide $5,000,000 in loan funding to Arizona-based microbusinesses, which are businesses with five or fewer employees. Through the … [More]
SBA Announces Working Capital Pilot Now Accepting Applications at Participating SBA Lenders
The U.S. Small Business Administration (SBA) announced that SBA 7(a) lenders may now accept applications for the SBA’s newly-announced 7(a) Working Capital Pilot (WCP) Program. “Small businesses need affordable working capital to pursue revenue growth opportunities made available thanks to President Biden’s Investing in America agenda,” said SBA Administrator Guzman. “The … [More]
Credit Union Donates $150,000 in Community Impact Grants Statewide
30 Arizona nonprofits to receive $5,000 grants.
OneAZ is announcing that the OneAZ Community Foundation is donating $150,000 in Community Impact Grants to 30 Arizona nonprofit organizations. “The OneAZ Community Impact Grant program embodies OneAZ’s commitment to being a catalyst for positive change in the communities we serve,” said Brandon Michaels, President of the OneAZ Community Foundation and President & CEO of … [More]
Phoenix-Based Funder Shelled Out Record $474 Million in the First Half of 2024
$576 million of commitments through the first half of 2024
Trinity Capital Inc., a leading provider of diversified financial solutions to growth-stage companies, announced certain highlights for the first half and second quarter of 2024. Trinity funded a record $474 million of investments in the first half of 2024 and originated $289 million of total new commitments in the second quarter, bringing total new commitments for the first … [More]
Credit Union Ranked Tops in Arizona on Forbes List
Arizona Financial has been ranked #1 in Arizona on the Forbes list of America’s Best-In-State Credit Unions 2024. This prestigious award is presented by Forbes and Statista Inc., the world-leading statistics portal and industry ranking provider. The list of top credit unions was recently announced and can be viewed on the Forbes website. “We are honored to be recognized by … [More]
Credit Union Prioritizes People and Culture with New Hire
OneAZ Credit Union is thrilled to announce that Chris Flores is joining Team OneAZ as the new EVP Chief People and Culture Officer. This marks an exciting new chapter in OneAZ’s journey to build a purpose-driven culture that revolves around its collective values and aspirations. “Chris Flores is a champion for elevating company culture around a collective purpose and shared … [More]
Local First Arizona Launches Grant Writing Services for Rural Energy for America Program
Nonprofit aims to connect Arizona small businesses, tribal communities with $30 million in federal funding to install solar, improve energy efficiency and reduce utility bills
With a mission to break down barriers for Arizona small business owners to receive crucial grant funding through the federal Rural Energy for America Program (REAP), Local First Arizona is proud to announce the launch of its REAP grant writing assistance center. Targeted at assisting rural and tribal small businesses and agricultural producers from across the state of … [More]
Phoenix-Based Investment Co. Provides $15M in Growth Capital to Houston Medical Devise Manufacturer
Trinity Capital Inc., a provider of diversified financial solutions to growth-oriented companies, today announced the commitment of $15 million in growth capital to Velentium, a professional engineering firm that specializes in the design and manufacture of innovative medical devices. Based in Houston, Velentium designs, develops, manufactures, and provides post-market … [More]
Credit Union Announces Expansion in Greater Phoenix
Credit Union West is expanding its branch network from 12 to 14 locations by the end of 2025. The new branches will be located in Phoenix, Peoria, and Buckeye. The Biltmore branch is now open in the Camelback Corridor of Phoenix on 16th Street just north of Camelback Road. Two additional branch locations are in the development phase. The Lake Pleasant branch will be located in … [More]
Financial Transactions: New Threats, New Solutions
How businesses can protect themselves from fraud
Conducting business electronically has become the norm in today’s world. And, while updates in technology have made doing business quicker and more convenient, it has made fraud more convenient, too. Thinking that spotting fraud is as easy as seeing a misspelling in a subject line or simply not making payments for oddball requests is an outdated approach. It’s time for a … [More]
Bank & Financial Services Co. Adds Equipment Finance Team in Phoenix
Alerus Financial Corporation announced it is expanding its specialty lending capabilities with the addition of an experienced team focused on providing equipment financing to commercial banking clients throughout the company’s geographic footprint. Brian Scott joins Alerus as managing director of the equipment finance team. In this role, he oversees the team’s activities … [More]
SBA Launches Working Capital ‘Line of Credit’ Pilot Program
Pilot Program Expands Small Businesses’ Access to Credit Lines That Create Jobs, Spur Sales and Growth Published on June 6, 2024
The U.S. Small Business Administration (SBA) announced the 7(a) Working Capital Pilot (WCP) Program. The WCP offers a newly structured line of credit, made by 7(a) lenders and backed by the SBA, designed to give greater flexibility than a traditional term loan. “Small businesses require working capital through competitively-priced lines of credit to operate efficiently and … [More]
Regional Bank Names New Arizona President
UMB Bank, a subsidiary of UMB Financial Corporation, has announced John Damiris as its new regional president for the Arizona market. Since relocating to the state in 2005, Damiris has spent nearly two decades building UMB’s Arizona presence from the ground up. During the last 15 years, Damiris and UMB have seen average loan balances in Arizona increase from $57.0 million to … [More]
Tax Incentives for Small Businesses: Engine for Economic Growth
Spurring high-impact research and development
As an accounting professional and small business consultant working with locally owned businesses for more than 20 years, I always hear stories from small business owners about their achievements, frustrations and how they enjoy doing the work they love. I see how self-employment is a strong option for all individuals nowadays, and I truly believe that small businesses are … [More]
