Arizona Microcredit Initiative Empowers Entrepreneurs
From microloans and business plans to hands-on marketing support, Arizona Microcredit Initiative is giving ASU students real-world experience while helping local entrepreneurs turn their dreams into reality.
Founded in 2011, AMI works to empower underserved entrepreneurs to launch or expand businesses through free consulting services, microloans and educational resources, with a vision of an Arizona where no one’s background or financial limitations stand in the way of entrepreneurial success.
Over the past decade, the nonprofit has consulted with over 75 entrepreneurs, awarded loans to 15 small businesses and developed 24 educational playbooks covering key business topics. Many of its alums have gone on to make their mark at top consulting firms, banks, Fortune 100 companies, startups and social enterprises — building on the skills and insights they gained through AMI.
“Arizona Microcredit is a powerful organization to be a part of,” said former executive director Nicole Harris. “Not only does it serve entrepreneurs in our local community, it empowers us as students to take what we are learning in the classroom and use it to build these amazing connections with our clients. Business is personal, and taking what I learned in my business classes to help someone pursue their passion is a very unique opportunity.”
At the heart of AMI’s work is its microlending program, which offers low-interest loans — up to $5,000 — to help fund the essential tools and assets entrepreneurs need to operate. These loans don’t just provide capital; they promote self-sufficiency, confidence and long-term business growth.
In addition to microlending, AMI’s student consultants have supported a diverse range of local ventures, from Skip NN’ Hole and the Million Dollar Teacher Project to HerRights and an array of small businesses — including restaurants, clothing brands and an organic janitorial service.
As AMI looks to another decade of serving underserved entrepreneurs, the team seeks to expand their free services through community partnerships.
For more behind this Frontdoor, visit azmicrocredit.org.
Karen Werner is the editor of Frontdoors Media. She is a writer, editor and media consultant. She has interned at The New Yorker, worked at Parents Magazine, edited five books and founded several local magazines. Her work has appeared in Sunset, Mental Floss and the Saturday Evening Post.
