Financial resources to help your small business grow.
Having ready access to capital is essential for business success these days. Whether it’s short- or long-term loans, crowdfunding or even funding to clean up once polluted and unusable lands, Washington State has several funding strategies to help you grow and expand. These, of course, are in addition to the traditional funding strategies small businesses use to fund their enterprises.
The Small Business Flex Fund was created to provide access to low-interest loans to those that need it most – smaller, local business and nonprofits who are an essential part of Washington’s goal of an equitable, widespread economic recovery.
Small Business Loan Programs
Washington State will be introducing five new loan programs, backed by $163 million from the U.S. Treasury. These innovative programs will help small businesses grow and expand through low-interest loans designed specifically for them. The first of these programs will roll out in the summer of 2023.
Export Voucher Program
Qualifying companies who are new to exports or entering new markets can get up to $6,000 to offset expenses. by the SBA’s State Trade Expansion Program, the vouchers can be used to defray trade show or trade mission fees, airfare, interpreter and translation services, export training programs and more.
Startup Wisdom offers 27 different strategies for funding a business, from the fairly straightforward to the very out-of-the-box. Each strategy in the book offers up the pros and cons and many have case studies using real-world examples. Best of all, it’s free with a quick click on the link above.
Brownfields Revolving Loan Fund
Brownfields loans are designed to provide financing for properties that require extensive cleanup and reclamation due to contamination. The Brownfields Coalition, which offers this low-interest funding option, can also work with owners and developers to streamline permitting at the local, regional and national level.
Industrial Revenue Bonds
These bonds are ideal for businesses building or expanding manufacturing and processing facilities as they usually offer companies lower interest loans than are otherwise available on the open market.
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