Access to Capital and Community Lenders

Seattle has several community lenders that have a specific focus on providing educational outreach and lending options for low-income and under-served populations. Community lenders, often referred to as Community Development Financial Institutions (CDFIs), exist to create financial self-sufficiency and offers innovative lending solutions.

For questions, translation or interpretation, technical assistance, disability accommodations, materials in alternate formats or accessibility information, please contact Robyn Duckett (she/her/hers), Community Development Specialist, at Robyn.Duckett@seattle.gov or (206) 586-7779.

Community Lenders

Business Impact Northwest
Business Impact Northwest provides entrepreneurs access to capital and business assistance. As a Preferred Lender for the U.S. Small Business Administration (SBA), BINW can work with businesses towards achieving their lending goals from $2,500 to $350,000. BINW also provides free one-on-one business coaching as well as various workshops, courses, and seminars. Contact Business Impact NW at info@businessimpactnw.org at (206) 324-4330

Craft3
Craft3 is a nonprofit lender that focuses on working with entrepreneurs unable to obtain bank financing, including borrowers with past credit challenges, incomplete financials, or limited collateral. It provides flexible and tailored loans from $25,000 to $3.5 million to help entrepreneurs grow their businesses, strengthen market position, and build wealth. Craft3 financing is often available to borrowers unable to qualify for bank financing. It offers streamlined review and underwriting for loans under $250,000, with lower rates available for qualified BIPOC borrowers. Contact Stephanie Lachman, Business Lender, at (888) 231-2170 x525.

National Development Council - Grow America Fund
National Development Council’s Grow America Fund provides business owners access to capital and a complete review of their business investment preparedness. As a Preferred Lender for the U.S. Small Business Administration (SBA), the Grow America Fund can work with businesses towards achieving their borrowing goals with loans from $75,000 to around $2,000,000 (more if needed). GAF loans have competitive rates and terms with little or no down payment. The GAF provides a wide array of capital products including permanent working capital, real estate acquisition and expansion loans, tenant improvement loans and funds for the purchase of machinery and equipment. The Grow America Fund also provides free one-on-one business coaching as well as various workshops, courses, and seminars. Contact Kaleb Kim, Small Business Lending Manager, at (949) 257-2009.

Mercy Corps Northwest
Mercy Corps Northwest is the U.S. economic development office of Mercy Corps, an international relief and development agency. Mercy Corps Northwest is an SBA Intermediary Microlender. They provide financing to small business owners who may not qualify for traditional loans. Loans range from $500 to $20,000. Contact: pugetsound@mercycorps.org

Rainier Valley Community Development Fund
The Rainier Valley Community Development Fund assists business along the Martin Luther King Jr. corridor in southeast Seattle. The non-profit organization’s loan criteria are not the same as those at traditional lending agencies. They look at factors including character, business capacity, and projected cash flow, as well as the impact a business will have on the Rainier Valley community. They additionally have payment terms and interest rates that are very flexible. Loans range from $50,000 – $2,000,000.Contact Bob Luciano, Director of Community Outreach and Engagement, at (206) 722-5282.

 

The Seattle Office of Economic Development is committed to building an equitable and inclusive economy that benefits the whole city by promoting access to economic opportunities for all of Seattle’s diverse communities.

The City of Seattle encourages everyone to participate in its programs and activities. For additional questions, translation or interpretation, technical assistance, disability accommodations, materials in alternate formats or accessibility information, please contact the Office of Economic Development at (206) 684-8090 or oed@seattle.gov.