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Gateway to Federal Loan Information. Click on the link below.
GovLoans.gov
Community Development
Block Grant (CDBG) Float Loan Program
The CDBG Float
Loan Program provides short-term fixed-rate gap financing for
business projects which create or retain jobs for low and
moderate-income people. To obtain financing, a business must be:
1. Willing to
make jobs available to lower income people,
2. Locate in a
state CDBG-eligible jurisdiction; and
3. Be able to
obtain an irrevocable letter of credit from a bank to secure a
loan.
Contact: CDBG
Float Loan Program
Olympia, WA
360 753-0325
The Rural
Washington Loan Fund provides gap financing for businesses
located primarily in distressed and timber impacted areas of the
state. By design, the fund finances higher risk projects than
those funded by conventional lenders. The higher risk is
balanced against public benefits which accrue from the job
creation and tax generation of successful projects. The fund may
loan up to $700,000 per project. In addition, loans of up to
$50,000 are available for woman or minority owned businesses.
Contact: Rural
Washington Loan Fund
Olympia, WA
360 586-8976
Infrastructure
Development
To facilitate
the location and expansion of industry, Washington State has
created a special contingency fund to finance local public
improvements required for development. The Community Economic
Revitalization Board (CERB) administers the development fund for
the state. CERB monies are awarded as loans, or in special cases
grants, to local governments on an as-needed basis for public
works projects. Eligible activities include access roads, sewer
and water extensions and other public improvements.
In order to stimulate a significant level of investment and job
creation, CERB has established general funding guidelines which
take into account the following:
-
Number of jobs
to be created
-
Economic
diversification potential
-
Public and
Private sector capital commitment
-
Feasibility of
project completion
-
Ability of
applicant to repay
Hanford Area Economic
Investment Fund Committee
Private Business
Loans/Municipal Loans
P.O. Box 547
Richland, WA 99352
Phone: (509) 531-0366
or
Benton-Franklin Council of
Governments
1622 Terminal
Drive
Richland, WA
99352
Phone: 509-943-9185
Fax: (509) 943-6756
Low Interest
Revolving Loan Fund (Benton REA Service Customers
eligible)
Benton Rural Electric
Association
Economic Development
Advisor: Bruce Etzel
Prosser Branch
Phone: 509-786-2913
Email:
bruce@bentonrea.org
SBA 504
This federal program offers
long-term financing to small businesses (under 500 employees)
for the acquisition, construction, expansion or renovation of
land and buildings or purchase of equipment.
SBA 7a
This federal program provides loan
guarantees for commercial loans as well as direct loans to
eligible small businesses. The loan monies can be used for debt,
the purchase of a business, acquisition of equipment or
property, or leasehold improvements. |
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