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Small business Flex Fund. A simple, low interest, and flexible loan for small businesses and nonprofits. New program supported by Washington State Department of Commerce. Photo of woman putting an open sign on the door to her business.

NEW Simple Flex Fund for Small Businesses and Nonprofits

The Washington State Department of Commerce has launched a new public-private partnership focused on providing loans to Washington’s smallest businesses and non-profits.


About the Small Business Flex Fund

Washington State Department of Commerce has made a foundational investment of $30 million into this public-private partnership. The fund is anticipated to scale to $100 million, leveraging the State’s initial investment to bring in additional private capital.

  • Flexible and affordable loans designed to help small businesses and non-profits reopen and rebuild
  • Provides historically underbanked communities (low to moderate-income communities, communities of color, women-owned businesses) with access to loans
  • Can be used in conjunction with small business grants, PPP and other programs
  • Supported by a network of Community Development Financial Institutions (CDFIs) around Washington that specialize in community-based small business lending and support and are serving on the front lines of the economic crisis in under-resourced communities
  • A tool Washington can use beyond COVID-19 to support businesses after natural disasters and other economic crisis

WHO QUALIFIES

  • Businesses and non-profits with annual revenue under $3 million and fewer than 50 employees
  • Have experienced direct economic disruption as a result of COVID-19

HOW TO APPLY

  • Interested borrowers will apply through an online portal: https://smallbusinessflexfund.org/
  • Eligible borrowers will be matched with a CDFI lender that serves their region
  • CDFIs will assist businesses and non-profits with the application and will provide support services