The city is depositing a total of $50 million in various local and community banks to help start-up and existing companies.
It could be a financial shot in the arm for small business owners in Phoenix.
The city is depositing a total of $50 million in various local and community banks to help start-up and existing companies. Mayor Greg Stanton says the more money that can be loaned to small businesses in Phoenix, the better chance we have of improving our economy.
He points out that the likelihood of having a Fortune 500 corporation relocate to our city is remote. Stanton says our best chance of creating a large employer is by investing in home grown businesses.
Many small business owners who've tried to qualify for loans in the past are skeptical, knowing they'll be subjected to very stringent criteria and qualifications from banks.
But many small business owners who have tried to qualify for loans in the past are skeptical, knowing they will be subjected to very stringent criteria from banks.
