Brownfields Revolving Loan Fund (BRLF) The purpose of the BRLF program is to facilitate public and private sector cleanup and redevelopment of commercial or industrial brownfield properties that are idled, underutilized or abandoned as a result of contamination (real or perceived).
The Rural Washington Loan Fund (RWLF) provides gap financing to businesses that will create new jobs or retain existing jobs, particularly for low income persons. The loan amount is determined by the "gap" and competitive factors, and cannot exceed 1/3 of the total project costs. Funds can be lent for the acquisition, engineering, improvement, rehabilitation, construction, operation or maintenance of any property. The maximum loan amount is $1 million dollars.
The Forest Products Revolving Loan Fund is designed to finance projects that implement value-added production processes. Financial assistance is available to qualified small and medium-sized forest products manufacturing firms. These loans may be used to finance projects that contribute to the diversification of the forest products industry. This fund is available to all areas of the state. The maximum loan is $1 million.
The Coastal Revolving Loan Fund/Technical Assistance Loan Fund allows for supplemental financing for expansion and start-up projects and low interest loans for purchase of technical assistance or community development strategies which will create jobs in areas affected by declines in fishing and timber industries. The businesses must be located in Clallam, Jefferson, Grays Harbor, Pacific or Wahkiakum counties. The maximum amount is $50,00.
HUD Section 108 Guaranteed Loans, Federal Department of Housing and Urban Development loans , are available to businesses from the Washington State Department of Commerce through cities and counties which are eligible to receive Washington State Small Cities Community Development Block Grant (CDBG) Program assistance. The request must be more than $1 million and cannot exceed $4 million. Other restrictions apply.
Community Development Block Grants (CDBG) Float Loans are available to businesses from the Washington State Department of Commerce through designated cities and counties. An eligible city or county may apply for a grant under this program im order to extend a short-term loan to a private business. The normal term for a loan is 24-30 months and the maximum that can be lent is $35,000 per job created/retained.
Child Care Facility Fund is designed to increase the availability of quality, affordable and convenient child care for working families. This fund provides financial assistance through loans and grants to employers and child care businesses.
Industrial Revenue Bonds provide financing for land, building and equipment for new and expanding manufacturing facilities. These loans may be used to encourage relocations and expansions of companies that provide jobs and expand economic opportunities for residents and the community. Tax exempt bonds may be applied for by the manufacturer, processing company or wholesale distribution center. Cities, counties, port districts and economic development agencies have the ability to issue revenue bonds, for more information contact a local associate development organization or the Washington Economic Development Finance Authority .
There are several assistance and financing programs available from local and federal resources that may be used to meet your needs:
