Mohave
County Business Development Loan Program (BDLP)
How is this program structured?
The BDLP is proposed as a unique
public/private partnership between Mohave
County, Arizona MultiBank Community Development
Corporation (MultiBank) and the Mohave Community
College Small Business Development Center
(SBDC).
Partner
Role
/ Responsibility
Arizona MultiBank
Provides capital,
originates and underwrites loans
Mohave Community College
Small Business Development Center
Provides training
and technical expertise
Mohave County Economic
Development Division
Organizes, administers
and promotes the program
How does BDLP
Work?
The BDLP uses public sector
funds to leverage private sector loans and
induce private sector investment that would
not be made otherwise. BDLP is not a substitute
for a conventional loan. Rather, it works
by providing additional collateral to make
credit more readily available to growing businesses
and community enhancing projects.
What are the
Program Objectives?
The Business Development Loan
Program (BDLP) is designed to support and
encourage business development in Mohave County.
The specific goals of the program are to:
Expand existing businesses and promote new
business development.
Create new
jobs and retain existing jobs.
Assist businesses
to grow and become eligible for traditional
bank financing.
Encourage the
renovation, expansion and upgrading of private
commercial properties,
Promote and
preserve older neighborhoods at risk of
economic decline;
Bring older
structures up to code and remove blighting
influences compatible with neighborhood
improvement and stabilization plans.
Increase income
levels for resident families in targeted
areas by encouraging entrepreneurship.
These activities
expand the tax base, maintain and increase employment,
and support a positive investment climate and
quality of life in Mohave County.
