EmpowerEdge Program Launches To Support Small Businesses In Arizona

In a significant step towards community development and economic empowerment, Growth Partners Arizona (GPAz) and HUUB have announced a collaborative venture launching in Central and Southern Arizona. The EmpowerEdge program, made possible by a $400,000 grant from Wells Fargo, represents a fusion of technology, education, and financial support aimed at bridging the funding gap that hinders local small businesses.

Small businesses are the backbone of Arizona's dynamic economy, driving innovation, creating jobs, and enriching communities. Despite their pivotal role, many of these enterprises struggle to grow, particularly in securing the capital necessary to thrive. This challenge is even more pronounced among underserved and minority-owned businesses, which often encounter systemic obstacles in accessing financial resources.

EmpowerEdge introduces a solution to this critical issue. Small businesses constitute over 99% of all businesses in Arizona, employing millions and serving as a vital source of innovation and community development. EmpowerEdge leverages HUUB’s advanced network and technology to connect small businesses to capital. This platform will help entrepreneurs assess their capital readiness and access a range of funding solutions from character-based products to traditional CDFI financing.

Reflecting on the role of EmpowerEdge as a key player in Arizona’s economic development, Andre Whittington, Executive Director of Growth Partners Arizona, states, "This is an initiative designed to ignite the potential of Arizona’s small businesses. By leveraging technology to assess borrowers’ readiness for funding and connecting them to trusted lending partners, we are combating predatory lending and building community trust."

Jenny Poon, HUUB CEO, adds, "We are thrilled to embark on this initiative alongside our incredible partners. It's an honour to work together on a technology solution that creates pathways to economic prosperity for all. Drawing from my own experiences with applying for loans and the widespread challenge of accessing capital in our communities, I am deeply committed to making funding universally accessible to entrepreneurs."

Katie Campana, Philanthropy and Community Impact Lead Specialist for Wells Fargo, shared her thoughts: "We hope our support will truly empower Arizona entrepreneurs who want to build businesses and create better lives for their families and their community. Wells Fargo is proud to continue to champion Growth Partners Arizona’s mission to provide greater support to small business owners."

Community Impact

The EmpowerEdge program aims to foster business growth and community prosperity by providing essential resources that small businesses need. This initiative is the first phase in GPAz's strategy to ensure every entrepreneur has the opportunity to succeed and contribute to Arizona's vibrant economy.

The collaboration between GPAz and HUUB signifies a commitment to creating an inclusive business ecosystem in Central and Southern Arizona. By uniting efforts, they aim to make these regions centres of innovative, community-driven economic success.