Washington
State's Department of Community, Trade & Economic Development Grants and Loans Services staff provides
technical assistance, financing services
and targeted lending to assist small-
and medium-sized businesses operating
in the state.
The table below briefly summarizes
the loans, guarantees, grants, and bond programs available
to Washington businesses.
Uses:
Gap financing for real estate acquisition
and improvement, working capital, equipment. Eligible Locations:
Non-entitlement areas of state Amount:
Max. $700,000 (min. $100K)
Uses:
Supplemental financing for expansion
and start-up; may be used for fixed
assets, working capital, equipment.
Eligible Locations:
Coastal counties only Amount:
Max. $150,000
Uses:
RTA: Purchases of technical assistance
(pre-development services to architects,
engineers, market consultants, etc.)
Eligible Locations:
Coastal counties only Amount:
Max. $50,000
Uses:
Short term (30 months) lending at low interest rates for qualifying projects. Eligible Locations:
Cities/counties eligible for Washington
State Small Cities CDBG Program
assistance Amount:
Up to $9 million
Uses:
Loan guarantees awarded through
cities and counties for projects
that will create or retain qualified
jobs. Eligible Locations:
Cities/counties eligible for Washington
State Small Cities CDBG Program
assistance
Amount:
$7 million (min. $700,000)
Uses:
Projects for eligible forest products
firms that implement value-added
production processes. Can be used
for equipment, construction, real
estate or working capital Eligible Locations:
Statewide Amount:
$1 million (min. $50,000)
Uses:
Loans for costs related to starting
or expanding a child care facility.
Grants to make health and safety
improvements. Eligible Locations:
Statewide Amount:
Direct loan: Max. $100,000 (min.
$25,000)
Grant: $25,000 (min. $5,000)
Uses:
Low-interest loans awarded through
five community lending institutions
for start-up, expansion, and improvement
of child care facilities. Eligible Locations:
Statewide Amount:
$25,000
Who: Primarily
manufacturing and processing; may
include wastewater, mass commuting,
solid waste disposal, recycling
or cogeneration.
What: Up to $10 million in bonds
may be issued to finance a project.
Land acquisition, building construction,
new equipment or purchase of existing
facility. Bonds are exempt from
federal income tax to bond holder,
resulting in lower rates to borrower
than conventional financing methods.
Who: Primarily
manufacturing and processing; may
include wastewater, mass commuting,
solid waste disposal, recycling
or cogeneration.
What: “Taxable Tail" bonds will normally used in conjunction with tax-exempt "exempt facility" or industrial revenue bond financings to allow the total project - both the parts eligible for tax-exempt financing and those not so eligible - to be financed in one bond issuance with the cost advantages of the melded rate and issuance process efficiencies.
