AZ SB1527

Establishes a microbusiness revolving loan fund program administered by the Arizona Commerce Authority, funded through legislative appropriations.

Authorizes the Authority to provide low-interest loans to community development financial institutions and other eligible local lenders (small business consortia, certified development companies, USDA and SBA loan providers, credit unions, and community banks) to fund microbusinesses unable to obtain adequate credit.

Defines eligible uses of program loans as working capital, acquiring or improving real property, acquiring machinery and equipment, and refinancing debt obligations, with targeting toward minority-owned and women-owned enterprises.

Limits fund contributions to no more than 25 percent of a loan's principal amount (unless raised by rule), and prohibits application fees on approved loans of $5,000 or less.

Requires the Authority to study factors for increasing microfinance lenders in Arizona by January 1, 2022, and submit findings to the Governor and Legislature by July 1, 2022; program expires July 1, 2031.