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Young Businesswomen

Payson IDA Loan Program

Business Meeting

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.

Apply Now

To Be Evaluated For A Business Loan

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:

  • Working capital

  • The purchase of furniture, fixtures, and supplies

  • Inventory or equipment

  • Business acquisition

  • Renovation

  • The purchase or lease of real estate that is already improved and will be used for the location of the business only.

Young Business Colleagues

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 - loans@paysonida.com
 

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.

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