Payson IDA Loan Program
If you are thinking of starting a new business in Payson, expanding an existing one, or even relocating
a business to this region and need financial assistance, we can help! By applying for a business loan through the Payson Industrial Development Authority Loan Program you can reach your business goals!
Loans provide alternative funding when conventional bank funding is not available. They are available to any business that meets loan requirements, many of which are listed below.
All applicants must complete an application that is available on this page.
General Loan Information?
General Loan Information:
Minimum Loan Amount: $15,000
Term of the loan: typically three years
Job retention and/or creation required
Interest rate competitive based on loan term and market risk
Can provide gap financing
Available when conventional funding is not
Loans Must Be Used for One of the Following:
The purchase of furniture, fixtures, and supplies
Inventory or equipment
The purchase or lease of real estate that is already improved and will be used for the location of the business only.
The Application Process
Step 1: Complete & Submit Application Packet
Use the link on this page to complete the fillable loan application PDF form to start your process of being considered for a Payson IDA loan. The completed loan PDF application should be saved to your computer and then attached and sent to the following email - firstname.lastname@example.org
WE RECOMMEND YOU HAVE ALL YOUR SUPPORTING DOCUMENTATION BEFORE YOU PROCEED WITH STEP 1!
IF YOU NEED HELP WITH YOUR SUPPORTING DOCUMENTS PLEASE CONTACT US
Step 2: IDA Representative Will Contact You
After submitting your loan application a member of the Payson Industrial Development Authority will contact you directly for consideration of the loan. This may take up to two weeks.
Step 3: IDA Creates Your Loan Account
Once you submit your Application, the Payson IDA will set up a file share link and send it to you so you can upload all of your required supporting documentation.
Step 4: Submit All Supporting Documentation
Once your loan account has been set up and you have received your document upload link, you will need to upload all your supporting documents for review (See the loan check list for required documents).
Step 5: Final Review and Notification
Once the Payson IDA has received all the supporting documentation, the review process will start. A Payson IDA representative will reach out to notify applicant.