A small business can have a workable idea and still struggle to get a lender’s attention. Washington is putting another $4.36 million into organizations that help business owners bridge that gap.
The Department of Commerce announced the awards Oct. 28. Eleven lending organizations will receive funding through the state’s Equitable Access to Credit program for financing, business assistance and financial education in communities that face barriers to conventional credit.
For owners in Snohomish and Island counties, the useful next step is to contact a participating lender about its own services. The state awards fund lending organizations. They do not create a direct grant application for individual businesses.
Two places to start
Business Impact NW, which lists service throughout Washington’s rural and metropolitan areas, received $441,317. It offers business loans, free one-to-one business coaching, and classes. An owner who is still sorting out a business plan or deciding whether borrowing makes sense can start with coaching.
Craft3 received $640,792. The nonprofit lender works with businesses and nonprofits that have difficulty qualifying for bank financing. Its website also offers a free guide to getting ready for a business loan.
Before applying, ask about the lender’s service area, eligible uses, interest rate, fees, security requirements and repayment schedule. Explain how much you need and what it would pay for. Coaching and a conversation with a lender can help clarify whether the proposed borrowing fits the business.
Each lender makes its own financing decisions. The announcement provides no guarantee that a particular business will qualify or receive a loan.
Sources: Washington Department of Commerce’s Oct. 28 award announcement; Business Impact NW; Craft3. Information checked Oct. 30, 2026.
