A small business owner serves a customer a cup of coffee in her shp.

Access to Capital

Remember the old saying, “Money doesn’t grow on trees?” Unfortunately, money does make the world go round, especially the world of business. If you’re looking for funding sources to fuel your growth, check out some of these possibilities.

The #1 request of small businesses is affordable loans. For many businesses, it’s a Catch-22. You need money to get a loan, but you need a loan to get money. This is particularly true for very small businesses or those run by owners in historically underserved communities.

Commerce’s new loan products were made possible by $163.4 million in funds provided through the U.S. Treasury’s State Small Business Credit Initiative (SSBCI). This program aims to promote entrepreneurship, support small business ownership, and increase the flow of capital in underserved communities. A portion of all program funding is targeted towards Very Small Businesses (VSB) and businesses owned by Socially and Economically Disadvantaged Individuals (SEDI).

Working with private financial partners, Commerce has developed five programs to serve the needs of small businesses across the state. As these programs become application ready, the title of each will be linked to the information you need to apply for a loan.

Note: Commerce does not manage these loans. They are managed by our trusted partners in the financial community.

    • Commercial Real Estate Loan Program
      Provides subsidized owner-occupied commercial real estate loans that could be used for tenant improvements, construction, purchase or refinance.
    • Loan Participation Program (Micro and Small Business Loan Fund)
      Assists small businesses with obtaining financing through participating lenders and Community Development Financial Institutions (CDFIs).
    • Revenue-Based Program
      Provides a revenue-based debt product focusing on underbanked communities around the state to provide upfront capital for businesses beyond the traditional debt-based loan products. This program is also a Sharia Compliant financing tool.
    • Collateral Support Program
      Provides small business loans to companies that have trouble qualifying for short-term loans through collateral support. The program complements the Small Business Administration’s 504 loan program by providing short-term loans before permanent financing is in place.
    • Washington State Venture Capital Program
      Provides capital commitments to new venture capital funds with diverse investment teams focused on investing in underserved startups or targeted investment objectives such as social equity, climate tech innovations, information technology, A.I. and machine learning.

More information on these new programs can be found on this page on the main Commerce website.

These links are provided for informational purposes only. Washington State and the Department of Commerce do not endorse any of these organizations nor is it liable for the quality or outcome of any relationships entered into.