Small business owners in Kent are encouraged to apply for the Small Business Flex Fund by the end of February! Learn more about the program or apply for your loan at SmallBusinessFlexFund.org.

Small business owners in Kent are encouraged to apply for the Small Business Flex Fund by the end of February! Learn more about the program or apply for your loan at SmallBusinessFlexFund.org.

Low rates, supportive lenders: Kent small business owners, apply now!

Time is running out to apply for Washington’s Small Business Flex Fund

In every county in Washington, low and moderate income earners, women, BIPOC, veterans, immigrants, disabled people and members of the LGBTQ+ community make up a large portion of the population, but only a small portion of local entrepreneurs. The Small Business Flex Fund aims to change this, providing better access to capital at low interest rates so small business owners can bounce back from the pandemic, create jobs and build a stronger Washington economy.

“The Small Business Flex Fund helps small business owners transition, connect with resources and find new opportunities for growth,” says Victor Saldanha, Chief Lending Officer of Business Impact NW, one of the Community Development Financial Institutions (CDFIs) administering the Washington State Department of Commerce’s Small Business Flex Fund. “Some entrepreneurs have only been able to access predatory loans with interest rates as high as 25 percent. When they get a Small Business Flex Fund loan at 4 percent, the savings really does help! They’re also able to build credit, and in a few years are often able to qualify for a greater variety of loans.”

Victor Saldanha, Chief Lending Officer of Business Impact NW, one of the Community Development Financial Institutions (CDFIs) administering the Washington State Department of Commerce’s Small Business Flex Fund.

Victor Saldanha, Chief Lending Officer of Business Impact NW, one of the Community Development Financial Institutions (CDFIs) administering the Washington State Department of Commerce’s Small Business Flex Fund.

The Small Business Flex Fund isn’t just for underserved populations — all small business owners are welcome to apply by the end of February, 2023!

Low interest, flexible loans:

  • Borrow up to $150,000.
  • Fixed 3-4 percent interest rates.
  • No fees.
  • Interest-only payments for the first year (note: this is not a grant; at the 13-month mark borrowers begin making payments towards interest plus principal)
  • 60-month loan terms. Unlike the federal Paycheck Protection Program (PPP) or other Small Business Administration programs, the Small Business Flex Fund is NOT a forgivable loan.
  • The money can be spent flexibly, including on payroll, utilities & rent, supplies, marketing & advertising, building improvements or repairs, and other business expenses.
Victor Saldanha, Chief Lending Officer of Business Impact NW, one of the Community Development Financial Institutions (CDFIs) administering the Washington State Department of Commerce’s Small Business Flex Fund.

Victor Saldanha, Chief Lending Officer of Business Impact NW, one of the Community Development Financial Institutions (CDFIs) administering the Washington State Department of Commerce’s Small Business Flex Fund.

“Interest rates for the Small Business Flex Fund are historically low compared to any traditional lender, and there are no fees. That helps a lot, especially as businesses transition through the pandemic,” Saldanha says.

The benefits of the Small Business Flex Fund go beyond the numbers. Entrepreneurs also receive support from CDFIs like Business Impact NW to navigate the application process and access business coaching.

“We can assist with the process and connect small business owners with additional resources to remove some of the systemic barriers that prevent them from growing.”

Small Business Flex Fund eligibility criteria:

  • Fewer than 50 employees
  • Annual revenues of less than $3 million
  • Experienced direct economic hardship due to COVID-19
  • Apply by the end of February, 2023
  • See the full list of criteria at SmallBusinessFlexFund.org
ad

Funds are still available in Kent! Apply now, and be sure to check your email spam folder and answer your phone so you don’t miss out on key information.

Learn more about the program or apply for your loan at SmallBusinessFlexFund.org.


Talk to us

Please share your story tips by emailing editor@kentreporter.com.

To share your opinion for publication, submit a letter through our website https://www.kentreporter.com/submit-letter/. Include your name, address and daytime phone number. (We’ll only publish your name and hometown.) Please keep letters to 300 words or less.

Borrow up to $150,000 at low interest rates with no fees using the Small Business Flex Fund. Money can be spent flexibly, including on payroll, utilities, marketing, building repairs and more.

Borrow up to $150,000 at low interest rates with no fees using the Small Business Flex Fund. Money can be spent flexibly, including on payroll, utilities, marketing, building repairs and more.

The news and editorial staff of Sound Publishing, Inc. had no role in the preparation of this post. The views and opinions expressed in this sponsored post are those of the advertiser and do not reflect those of Sound Publishing, Inc.

Sound Publishing, Inc. does not accept liability for any loss or damages caused by the use of any products, nor do we endorse any products posted in our Marketplace.

More in Local Marketplace

m
Commercial Press Operator Job- Goss U70 [Night or Day shift!]

Sound Publishing is searching for Coldset Web Press Operator professionals in Washington… Continue reading

Dani Rice was paralyzed in a routine medical procedure: “Now thanks to WA Cares, we have more options. We both put in a little from our paychecks now, and WA Cares will pay for a home care aide, when we need one.”
You Never Know What Will Happen. WA Cares Gives Peace of Mind.

Chances are you or someone you love has experienced what it’s like… Continue reading

Small business owners in Kent are encouraged to apply for the Small Business Flex Fund by the end of February! Learn more about the program or apply for your loan at SmallBusinessFlexFund.org.
Free business guidance and low-interest loans for a stronger Kent: Apply before Feb. 28!

Get help applying for the Small Business Flex Fund to help your business grow

WA Cares covers people with pre-existing conditions. WA Cares photo
m
Kent Small Businesses Awarded $10K Grants Through Comcast RISE

360 Motors , From the Ground Up Floral , Nations Realty ,… Continue reading

Iddins Law Group attorney Christian Pearson. Call 253-854-1244 or visit iddinslaw.com to request a complimentary phone consultation. Charles Cotugno Photo.
What’s next? Understanding wrongful death and probate

This Kent law firm can help your family resolve a wrongful death case with compassion and efficiency

Patricia Kibbe, President/CEO of Evergreen Business Capital Community Finance. EBCCF is part of a network of nonprofit, community-based lenders providing the Small Business Flex Fund in Washington State.
Flexible loan helps Washington’s smallest businesses bounce back

Apply before February 2023! Grow your business with support from your community

As the Greater Federal Way Chamber works to create living wage jobs, grow its bottom line and support affordable lifestyles, it’s important to look at the whole picture, then measure what opportunities are within reach, notes Chamber CEO Rebecca Martin.
Economic Development is in the Data

Economic development is one of those terms that lends itself to vagueness—what… Continue reading

Jeff Thungc, of JLT Web Solutions.
m
Make the shift from retail [Full benefits]

Are you tired of working in Retail, but aren’t sure about how… Continue reading

At Wide Shoes Only their friendly, expert staff can help you find the perfect shoes for the comfort and health of your feet.
How to choose shoes to keep your feet healthy and happy!

These shoe-fitting experts in Edmonds and Renton really know their stuff

Wide Shoes Only store owner Dominic Ahn offers more than 600 styles of shoes for people with wide feet. His parents started the first store 42 years ago. The stores are in Edmonds and Renton. (Kevin Clark / The Herald)
Local shoe store owner knows his business – like riding a bike!

You’ll find Wide Shoes Only at these Renton and Edmonds shoe shops