Your Washington small business is growing. Your funding options should grow with you.
Match with loan options from trusted community lenders in minutes with the Washington Small Business Flex Fund 2.
Supported by the Washington State Department of Commerce, the Washington Small Business Flex Fund 2 helps small businesses and nonprofits access affordable loans they need to thrive.
With competitive interest rates and flexible repayment options, the Fund is designed to help small businesses and nonprofits access the capital needed to grow and thrive.
TAKE THE NEXT STEP
A quick pre-application questionnaire for the Fund will match you to:
Flexible, affordable loans from trusted lenders
Fixed, competitive interest rates
36- to 72-month repayment timelines
Technical assistance providers
Eligible small businesses and nonprofits can borrow up to $250,000 and the money can be spent flexibly, including on payroll, utilities & rent, supplies, marketing & advertising, building improvements or repairs, and other business expenses. Whether or not you get paired with a lender, we’ll connect you to resources that can help you prepare for a loan. Be sure to check-off additional support and resources you may need when filling out the pre-application questionnaire.
What to expect from our loan pre-application
PRE-APPLICATION QUESTIONNAIRE
Pre-apply for funding by filling out the information requested via a quick questionnaire, which takes only minutes to complete with no credit check required.
Get matched
If you’re an eligible borrower, you’ll match with trusted, community-based lenders after completing the pre-application questionnaire. You’ll also have the option to match with additional support services as part of the pre-application.
FIND SUPPORT
Once matched, local, community-based lenders and technical assistance providers will assist you with every step of the full loan application and provide additional support services.
To see this process first hand, check out our “How To Pre-Apply” video below for the Washington Small Business Flex Fund 2
Eligibility & Loan terms
PRE-APPLYING IS SIMPLE.
Eligible businesses must have:
Fewer than 50 employees
Annual revenues of less than $5 million
Been in business for at least one year prior to time of application
Accessible Loan Terms.
Borrow up to $250,000
Interest rates currently range from 8.5-11.5% depending on the length of the loan*
Fixed interest rate for the life of the loan
36- to 72-month loan terms
No prepayment penalties
*This range is 1-4% above the current WSJ prime rate of 7.5%, a national base rate determined by the 10 largest U.S. banks.
Loan use is flexible.
Payroll
Utilities & rent
Marketing & advertising
Building improvements or repairs
Other business expenses
Benefits of the Fund
How does this resource help my small businesses or nonprofit?
Many small businesses and nonprofits in Washington state experience significant barriers to accessing the financial resources they need to develop and grow. The Washington Small Business Flex Fund 2 aims to provide quality, flexible and affordable loan products for you through a network of Department of Commerce-approved community lenders. The Fund was created to provide access to affordable loans for smaller, local businesses and nonprofits like yours that need it most.
Please note:
The Washington Small Business Flex Fund 2 is NOT a forgivable loan program. The borrower will need to pay back the full amount of the loan with interest over a 3- to 6-year term.
The Washington Small Business Flex Fund 2 was created to provide access to affordable loans for smaller, local businesses and nonprofits that need it most.
Please note the Washington Small Business Flex Fund 2 is NOT a forgivable loan program. The borrower will need to pay back the full amount of the loan with interest over a 3- to 6-year term.
HOW IS THIS PROGRAM DIFFERENT FROM TRADITIONAL LOAN PROGRAMS?
The Washington Small Business Flex Fund 2 works with a network of community-based lenders and technical assistance providers with decades of experience helping Washington’s small businesses and nonprofits from underserved and underbanked communities. These community lenders can assist you through every step of the full loan process.
The Fund also aims to reduce barriers to financial resources by removing minimum credit score or specific collateral requirements and origination fees charged outside of closing costs. Funds can be spent flexibly based on your business’s needs and goals.
Communities are stronger when small businesses thrive.
Whether restaurants, professional service providers, manufacturers, local farms or community-based nonprofits, small businesses and local organizations help our communities thrive, while creating jobs that contribute to the health of our statewide economy.
Community lenders committed to your success
Technical Assistance Partners
Ready to Pre-Apply?
$250,000
BORROW UP TO
8.5 – 11.5%
interest rates as of December 18, 2024
1-4%
Prime +
36-72
MONTH LOAN TERMS
$250,000
BORROW UP TO
Due to a limited amount of funding availability and the high volume of pre-applications expected, it is anticipated that not all pre-applicants will be able to receive a loan. Pre-applications will be reviewed in the order they are received and will be managed to support the program’s goals. The time it takes to process a pre-application will depend on the volume of pre-applications received by the matched community lender. Please note that submitting a pre-application is not an indication of eligibility and does not mean that a loan will be approved or funded. Additional information will be requested from the matched lender for your full loan application that will determine your eligibility for a loan.
We recommend pre-applying as soon as possible.
The Washington Small Business Flex Fund 2 is supported by the Washington State Department of Commerce and the US Department of Treasury through the Washington State Small Business Credit Initiative (SSBCI). You can visit the agency’s website to learn more about how SSBCI provides additional capital to Community Development Financial Institutions (CDFIs) and participating lenders for small businesses and nonprofits throughout Washington, particularly those in historically underserved and under-banked communities.
The Washington Small Business Flex Fund 2 is supported by the Washington Department of Commerce and the US Department of Treasury.
