MBDA is pleased to announce approximately $11 million in federal grants now available to support, educate, and empower socially and economically disadvantaged businesses. These grants will fund programs that serve rural minority businesses, advance women’s entrepreneurship, and elevate the next generation of entrepreneurs. Read more
City of Tacoma has launched applications for Tacoma-based businesses to select from two loans and two grants to apply for. Technical assistance is available for applicants and two info sessions will provide more information and directions about these programs and how to apply.
The Community Reinvestment Project (CRP) is a City of Tacoma program funded by the Washington State Department of Commerce as part of a statewide $200 million Community Reinvestment Project initiative. Through Tacoma’s $3.6 million allocation, the City is offering a combination of loans and grants to support Tacoma-based businesses that align with the CRP’s goals of addressing economic inequities and historical barriers caused by the enforcement of criminal laws and penalties during the war on drugs. Read more
Office of Minority & Women’s Business Enterprises (OMWBE) is planning a series of listening sessions throughout the state, to gather community input and identify areas to improve service delivery. If you are interested in participating, we encourage you to complete the Pre-Attendance Questionnaire below. Our team will be in touch, if you are selected to participate. Selections will be made based on industry representation, to ensure different business needs and points of view are captured in the listening sessions.
Selected businesses will receive $100 for lived experience compensation. This is a one-time flat-rate sum, using Washington’s Community Compensation Guidelines.
In 2021, Congress passed the Corporate Transparency Act on a bipartisan basis. This law creates a new beneficial ownership information reporting requirement as part of the U.S. government’s efforts to make it harder for bad actors to hide or benefit from their ill-gotten gains through shell companies or other opaque ownership structures.
Effective as of January 1, 2024. Limited Liability Companies (LLCs) are required to submit Beneficial Ownership Information Reports. Read more
The Equitable Access to Credit Program, authorized by HB 1015 (RCW 82.04.449) (PDF), provides a tax preference mechanism that generates funds for grants to qualified lending institutions. These grants, funded through contributions in exchange for B&O tax credits, are dedicated to providing access to credit for historically underserved communities.
The Washington Department of Commerce’s Office of Economic Development and Competitiveness (OEDC) is seeking public comments and recommendations to inform the agency’s work on the development of the grant component of the Equitable Access to Credit Program. The purpose of this effort is to:
Feedback obtained through this Request for Public Comment process will help inform coordinated agency action in designing and implementing programs that supports equitable access to credit grants.
Estimated Key Action Dates
The dates are only estimates and are provided to illustrate the current expectations for timing of actions related to this Request for Comment:
Click here for more information and learn how to participate!
THE 2023-24 ASCEND NATIONAL COHORT WILL WORK TOWARDS GROWING 100 BUSINESSES OWNED BY PEOPLE OF COLOR WITH $2-9 MILLION IN REVENUES BEYOND THE $10 MILLION LEVEL.
Solutions-Oriented Approach
Businesses that participate in the Ascend National Cohort enter with a defined opportunity/challenge that, when addressed, leads to business growth. Prior business opportunities/challenges have included business acquisition, international expansion, reducing employee turnover, and reducing inventory and production costs, among others. The Ascend National Cohort becomes a tool through which businesses access a breadth and depth of resources unavailable in other programs to meet the challenge and grow their profitability.
The 2023-24 program follows a successful inaugural year that saw 48 businesses improve their operations, which has led to growth rates between 5% and 50% since September 2022.
Businesses that will benefit the most from the Ascend National Cohort are those MBEs that have revenues in the $2-9 million range and are seeking to grow to $20 million in the next two years. Businesses are typically nominated for this program by one of their clients or customers. Ascend focuses on businesses that target sales in B2B or B2G environments. Read more
Hey, Pierce County Business Owners! Check out these nine new Short Courses through Pierce County’s Business Skills program. Created specifically for busy small business owners and entrepreneurs as a way to work on their business on their own time, at their own pace. FREE, on-demand business skills training is now available to help small businesses start, grow, and stay on track. Classes focus on the basics of how to succeed in business and quickly build skills to immediately put into practice.
Sign up and start working on these key areas for business success: bookkeeping, tax reporting, business planning, business law, sales skills, marketing strategies, graphic design, web design, and intercultural communication. The Pierce County Business Skills Program’s free curriculum is developed in partnership with Pacific Lutheran University as part of the Pierce County Community Navigator program and is funded by the American Rescue Plan Act.
Washington MBDA Business Center is proud to present the Achieve More Grant (AMG) where a total of $200,000 funds are available to Women & Minority-owned businesses to help drive innovation and economic growth in our region. The “Achieve More” Grant is designed to help eligible women & minority-owned small businesses throughout the state of Washington to offset three types of costs:
Read the press release by City of Tacoma here for more details. Applications are accepted through March 19, 2023 at 11:59PM.**
**Update, March 20, 2023: Applications closed as of March 19, 2023. Applications are currently under review. Awardees will be announced Friday May 26, 2023.
All candidates must complete the initial Eligibility Questionnaire (see link below) and submit their intent to attend at least “one” Achieve More Grant workshop. Workshops are free to attend and will be held in-person and virtually.
Please see the following newsletter from IRS for small business owners for January 2023.
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Pierce County Business Accelerator
Shop local for the holidays and support BIPOC, women, and veteran-owned small businesses via a new online directory.
The Tacoma-Pierce County Chamber has launched a new tool to help find businesses owned by BIPOC, women, and veterans. Visit PCBAmap.biz to find and support local entrepreneurs this holiday season!
The directory spotlights Pierce County Business Accelerator program (PCBA) graduate businesses, offering a variety of goods and services. The directory is searchable by businesses location and category and includes an interactive map.
Visit PCBAmap.biz today to discover a PCBA business near you and explore opportunities to support local business owners!
(253) 591-5835
747 Market Street, Room 808
Tacoma, Washington 98402