The Arizona Microcredit Initiative is a 501(c)(3) nonprofit based at Arizona State University that provides the dual benefit of strengthening Arizona’s small business ecosystem by providing early-stage entrepreneurs with hands-on guidance and business education while giving students a venue to share their expertise and gain experience.
AMI’s other critical service is providing access to affordable capital. The nonprofit has received multiple grants (with its total grant fund being more than $50,000) and gives out “micro-loans” from its grant fund. Loans range from $1,001 to $7,500 at an interest rate from 5% to 8%.
“By offering hands-on support and accessible loans, AMI helps entrepreneurs grow, thrive and contribute meaningfully to Arizona’s small business community,” says AJ Gomez, executive director of AMI. “We’re proud to be part of an initiative that fosters lasting economic opportunity across the state.”
AMI offers free consulting services, strategic planning, and workshops across more than 40 business topics — from seasonal marketing to accounting concepts — helping entrepreneurs refine their strategies and build sustainable businesses. Since its founding in 2011, AMI has supported more than 100 small businesses, delivered more than 300 tailored business plans and distributed upwards of $70,000 in low-interest microloans. Through partnerships with organizations like the International Rescue Committee, City of Phoenix, HUUB and Growth Partners Arizona, AMI continues to expand its impact across Arizona’s entrepreneurial community.
