Washington, aka the Evergreen State, is home to nearly 700,000 diverse small businesses. With relatively low taxes, an inclusive business culture, and plenty of state-supported financing programs, Washington is a great state to do business in. Whether you’re already an established business owner or you’re just getting your idea off the ground, funding can help. Check out our comprehensive list of business loans and grants in Washington below.
Department or Agency: Washington State Public Works Board (PWB) and the Washington State Department of Commerce
Loan or Grant title:Broadband Loan Applications
The Washington State Broadband Funding loans are open annually to businesses, municipalities, and nonprofits who seek to acquire, install, or construct broadband infrastructure for underserved communities in the state. Specifically, loans are for “last and middle mile” infrastructure and are limited to $2 million per project, and require a 50% match. Note, projects in distressed areas or located in Indian country can receive up to 90% of project costs up to $5 million.
Department or Agency: Washington State Department of Commerce
Loan or Grant title: Washington Small Business Flex Fund 2
The Washington Small Business Flex Fund 2 offers affordable loans to small businesses and nonprofits. Eligible businesses can get up to $250,000 to use on payroll, utilities, rent, supplies, marketing and advertising, building improvements or repairs, and other business expenses.
Department or Agency: Washington State Department of Commerce
Loan or Grant title:Owner-Occupied Commercial Real Estate Loan Program
The Owner-Occupied Commercial Real Estate Loan Program offers subsidized loans with low interest rates to Socially and Economically Disadvantaged Individual (SEDI) business owners and Very Small Businesses (VSBs). Eligible businesses can use the funds to make tenant improvements, start construction, and refinance loans.
Department or Agency: Grow America Community Impact Loan Fund
Loan or Grant title:Revenue-Based Financing Fund – The Denkyem Loan
Available through Denkyem, a Black-owned community development financial institution, this loan gives businesses between $10,000 and $50,000. To qualify, businesses must be based in Washington, have been in operation for at least a year, and have fewer than 500 employees.
Department or Agency: Grow America Community Impact Loan Fund
Loan or Grant title:Revenue-Based Financing Fund – The Ajust Loan
The Ajust Loan gives businesses upfront capital between $50,000 and $500,000, with a three-year repayment term. Businesses need to be registered in Washington state, have fewer than 500 employees, and have been operating for at least three years to qualify.
Department or Agency: SNAP Financial Access
Loan or Grant title: Business Loans
SNAP Financial Access is a compassionate lender that supports business owners who don’t qualify for traditional bank loans. They have a special focus on serving historically disadvantaged and underserved groups, including women, people of color, veterans, immigrants, LGBTQ+IA community members, and people with disabilities. Eligible businesses can get loans from $5,000 to $150,000 to use on equipment purchases, inventory, working capital, commercial real estate, debt restructuring, and furniture and fixtures.
Department or Agency: Tri County Economic Development District
Loan or Grant title:Rural Opportunity Loan Fund
The Rural Opportunity Loan Fund serves businesses in Eastern Washington that wouldn’t otherwise qualify for a traditional bank loan. Businesses can use the funds to start an operation or expand. Businesses in the following counties are eligible: Ferry, Pend Oreille, Stevens, Adams, Asotin, Chelan, Douglas, Garfield, Grant, Lincoln, Okanogan, Whitman, and Spokane counties.
Department or Agency: Mid-Columbia Economic Development District
Loan or Grant title: Business Loans
The Mid-Columbia Economic Development District provides business loans to businesses that commit to creating and retaining jobs. Businesses in Skamania and Klickitat counties are eligible to apply.
Department or Agency: Business Impact NW
Loan or Grant title: Business Loans
Business Impact NW is a compassionate lender serving businesses in Washington (as well as Alaska, Idaho, and Oregon) owned by Socially and Economically Disadvantaged Individuals (SEDI). Loans range from $5,000 to $500,000 and can be used for a wide range of business needs, including inventory purchases, working capital, and contractor receivables.
Department or Agency: Craft3
Loan or Grant title:General Business Loans
Craft3 is a nonprofit community development organization providing coaching and capital to underserved business owners in the Pacific Northwest. Businesses can borrow between $50,000 and $250,000 with fixed interest rates.
Department or Agency: Craft3
Loan or Grant title:Construction Loans
Craft3’s construction loans give eligible Washington businesses up to $4 million to start a construction project or customize a business facility.
Department or Agency: Rainier Valley Community Development Fund
Loan or Grant title: Loans
The Rainier Valley Community Development Fund offers standard business loans and commercial real estate loans to qualifying businesses. Businesses can get funds from $50,000 to $2 million to acquire a business, relocate to South Seattle, make tenant improvements, and purchase business equipment and furniture.
Department or Agency: Washington State Office of Minority & Women’s Business Enterprises (OMWBE)
Loan or Grant title: Linked Deposit Loan Program
The Linked Deposit Loan Program offers loans, lines of credit, and working capital to strengthen firms certified as minority or women-owned by the Office of Minority & Women’s Business Enterprises. Loans to certified organizations are limited to $1 for a 10-year term. The program links the State’s budget surplus deposits to commercial loans at participating financial institutions that lend directly to minority and women-owned businesses.
Department or Agency: Employment Security Department of Washington State & Washington
Paid Family & Medical Leave
Loan or Grant title:Small Business Assistance Grants
Small Business Assistance Grants help smaller employers with under 150 employees cover costs when staffers take Paid Family and Medical Leave. There are two grant programs: 1) a $3,000 grant to cover costs for hiring temporary staff to replace those taking leave, and 2) a $1,000 grant to fund other wage costs and equipment.
Department or Agency: City of Tacoma
Loan or Grant title:Microloan Program
Through the City of Tacoma’s Microloan Program, businesses can get short-term loans from $5,000 to $25,000. To qualify, businesses must be a startup or existing small business located within Tacoma city limits.
Department or Agency: City of Tacoma
Loan or Grant title:Small Business Loan
Tacoma’s Small Business Loan provides gap financing to businesses that need to expand operations, purchase equipment, or increase inventory. Loans are up to $500,000, though the City of Tacoma cannot provide more than 33% of the total funds.
Department or Agency: Northwest Access Fund
Loan or Grant title:Opportunity Loans
The Northwest Access Fund gives loans up to $10,000 to eligible Washington (and Oregon and Idaho) business owners with disabilities of any kind.
