The Seattle Office of Economic Development has launched a new small business loan fund called the Grow Seattle Fund. If you are a small seattle based music or film business who fits the following criteria, the Seattle Office of Film and Music urges you to apply

• The fund provides low-cost capital for a broad range of needs including working capital, equipment purchase, real estate purchase, tenant improvements and debt refinancing
• The fund is targeted to profitable businesses with at least two years of operating history and borrowing needs of $100,000 to $2 million
• Loan applications will be evaluated under more flexible underwriting standards than a typical bank
• Loans will have lower interest than a typical bank (floating rate currently at 4.75%)

How to Apply

• The Office of Economic Development will handle outreach/marketing and initial screening of applicants
• OED's private lending partner Grow America Fund will perform the underwriting analysis, provide the loan and handle loan servicing
• If interested, please contact Ken Takahashi, Business Development Finance Manager of OED at (206) 684-8378 or ken.takahashi@seattle.gov