Small Business Flex Fund to help you grow your business

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Supported by the Washington State Department of Commerce, the Fund helps small businesses and nonprofits access the financial support they need to thrive.  Small businesses and nonprofits can borrow up to $150,000 and the money can be spent flexibly, including on payroll, utilities & rent, supplies, marketing & advertising, building improvements or repairs, and other business expenses.

Apply now for:

  • flexible working capital loans
  • low-interest rates
  • 60-month repayment timeline
Qualifications:
  • Fewer than 50 employees
  • Annual revenues of less than $3 million
  • Experienced direct economic hardship due to COVID-19
  • Small businesses must have been in business for at least one year prior to the date of application OR, the business must meet one of the following criteria:
  • Demonstrate three or more years of operating experience in the industry through previous ownership or management OR
  • Be a previous borrower of the CDFI and have had no repayment issues
  • Non-profits must have been in operation since at least January 2019.

LOAN use is flexible and can be utilized to pay for the following business expenses:

Utilities & rent
Marketing & advertising
Building improvements or repairs
Other business expenses

Click Here For More Information

Application Portal Now Open – Convention Center Grant, Due 9/9/2022

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Due Date: September 9 at 5:00 PM

The Washington State Legislature has allocated $5 million for a grant program to assist businesses and non-profits that are dependent to maintain their operations on the economic activity created through conventions hosted in Washington state.  The Washington Department of Commerce will manage the Convention Center Grant Program.

Grant Amount: Eligible businesses may receive up to a $500,000 grant.  Commerce is permitted to reduce prior Working Washington grants and/or prioritize those who have not yet received a grant.

UPDATED General Timeline:

  • August 17 – September 9, 2022:  Application portal will remain open for 24 days.
  • Mid – late September:  Application review.
  • Early October:  Commerce to notify grantees and disburse funding.

You are eligible to apply if you meet the following criteria:

  • Are an active for-profit or non-profit business or organization,
  • Have a UEI (Unique Entity Identifier) number – no longer the DUNS (Data Universal Number System),
  • Have not reported annual gross receipts of more than $100 million in 2019,
  • Have expenses that are necessary to continue business operations, and the expense is not a federal, state or local tax, fee, license or other government revenue,
  • Have met one or more of these criteria:
  • Hosted an in-person convention in Washington state that allows for all ages of the general public to attend,
  • Provided support services to conventions in Washington state, or
  • Depended on the function of conventions to sell goods and services in Washington state,
  • Be able to demonstrate financial hardship as a result of the COVID-19 outbreak,
  • Make more than 25% of annual revenue from convention activities,
  • Have reported total revenues of at least $10,000 in 2019,
  • Generate at least 51% of revenue in Washington state,
  • Have not permanently closed or do not intend to permanently close in 2022, and
  • Follow all COVD-19 health requirementsClick Here To Apply

    Related Webinars:
  • Resources and Information About The Working Washington Grants: Round 5 (WWR5) Program:

    Resources and Information About The Convention Center Grants (CCG) Program:

     

Application Portal Now Open – Working Washington Grant Round 5, Due 9/9/2022

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Due Date: September 9 at 5:00 PM

The Washington State Legislature has allocated a new round of grant funding for small businesses affected by the COVID-19 pandemic.  It appropriated $70 million in its next sequence of Working Washington Grants: Round 5.

Grant Amount: Eligible businesses may receive up to a $75,000 grant.  Commerce is permitted to reduce prior Working Washington grants and/or prioritize those who have not yet received a grant.

Eligible for-profit and non-profit businesses, including tribal member-owned business operating on a reservation with a license issued by a federally recognized tribe in Washington state, may apply. Award amounts will vary and are subject to review and adjustment pending application volume, reported losses, and take into account previous Working Washington grant awards received from Commerce or affiliated partners.

General Timeline:

  • August 17 – September 9: Application portal will remain open for 24 days
  • Mid – Late September: Review of applications
  • Early October: Commerce will notify grantees and disburse funding

Grant Criterias & More Information can be found: www.commercegrants.com. 

Click Here To Apply

Related Webinars: 

  1. Washington Small Business Development Center:  Working Washington 5 Grant Application Walkthrough – Click here to watch the recording (Firefox recommended)
  2. Washington Small Business Development Center:  Working Washington 5 Grant Information – Click here to watch the recording
  3. Washington Hospitality Association:  Working Washington 5 Grant Application Process – YouTube  https://www.youtube.com/watch?v=3_yiWslA0gM 
  4. One Eastside SPARK:  Working Washington 5 Grant Information, Including Unique Entity Identifier (UEI) Walkthrough – Click below to watch the recording in:

2023 Scholarship Program for Minority Student – The Lagrant Foundation, Due date 2/28/2023

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WA MBDA - City of Tacoma News Release

Frank Boykin Joins City of Tacoma to Oversee the Washington MBDA Business Center

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August 15 — Today, Frank Boykin joined the City of Tacoma to oversee the Washington Minority Business Development Agency (MBDA) Business Center, which provides technical assistance and business consulting to established minority-owned businesses in Washington state. Embedded within the City of Tacoma’s Community and Economic Development Department since September 2016, the Washington MBDA Business Center was established as part of a cooperative agreement between the City of Tacoma and the U.S. Department of Commerce. It is one of 35 MBDA Business Centers across the country.

“I look forward to building on the good work the Washington MBDA Business Center has done to date to provide ongoing, quality assistance to minority businesses with rapid growth potential,” said Mr. Boykin. “As our region works to build a stronger economy, it is critical that we engage and elevate our minority businesses and position them to thrive.”

Mr. Boykin has more than three decades of professional, leadership, relationship-building and community experience with a well-documented history of and reputation for connecting business and community, developing meaningful metrics to drive outcomes and results, and connecting public policy opportunities to public service.

Read full News Release by City of Tacoma here

Trade Partner Equity Program by Abbott Construction – Apply

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Abbott Construction is holding their Trade Partner Equity Program to to provide a series of training sessions for SMWBE companies interested in working with Abbott Construction in the future. The training sessions are in-person starting in September and are seven, four-hour sessions, once a month for seven months. Selected S/M/WBEs to participate in the program will be notified in mid to late August.

Blocks of instruction: Estimating, How to Bid Successfully, Tier 1 Match-Making, Leadership Dialogue, Marketing Your Business, Safety, Accounting, Human Resources, Project Close-Out and more. Read more

Small Business Innovation Fund

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The Small Business Innovation Fund, administered by Washington State Department of Commerce, aims to spur small business recovery, startup, and growth. This funding will focus on initiatives that serve BIPOC entrepreneurs, women-owned small businesses, and small businesses located in underserved, low-income, and rural areas.

Eligible Applicants: Non-profit organizations who have a history of working with and providing assistance to small businesses in the State of Washington. A maximum of $5M will be awarded to each successful applicant. The number of awards depends on the number and quality of applications received. Non-profit organizations must show an aptitude and proficiency in assisting small businesses with the goals of recovery, startup, and growth. The Applicant must be licensed to perform work in Washington State.  They must also be registered and maintain their status as a nonprofit entity, with the Secretary of State’s Office.

Small Business Innovation Fund contracts are used to:

  • Serve BIPOC entrepreneurs and small businesses located in underserved, low-income, and rural areas
  • Serve women-owned businesses
  • Serve native and tribal-owned businesses
  • Increase aptitude for small businesses to succeed and survive

Key Timelines: 

 

Grant applications are accepted August 10, 2022 – September 2, 2022.

Grants are estimated to be awarded by October 1, 2022.

Contract performance period: Contract Execution through May 31, 2023.

 

Contract award amounts:

Maximum of $5M, minimum of $500,000 awarded to each successful applicant. The award will be based on the quality of content within the application and the ability to execute the timeline of the contract.

The legislature has specified that: “The department may establish regional targets or other benchmarks to ensure equitable geographic distribution of funding.” In response to this, funds will be distributed according to the following regional framework:

1/3 King County

1/3 all other urban counties

1/3 all other rural counties

Questions: 

Please contact:

Application & Contracts Manager

[email protected]

(360) 522-0429ogram Manager:

 

 

Inaugural Juneteenth Royal Ball

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Black Owned Business Excellence (BOBE) presents:
𝗜𝗻𝗮𝘂𝗴𝘂𝗿𝗮𝗹 𝗝𝘂𝗻𝗲𝘁𝗲𝗲𝗻𝘁𝗵 𝗥𝗼𝘆𝗮𝗹 𝗕𝗮𝗹𝗹
“This is the Inaugural year that the state of Washington recognizes Juneteenth as a legal state paid holiday on Monday, June 20, 2022. As Black Folks and allies, we have been celebrating Juneteenth for years. This government recognition is cause for a bigger celebration. Black-Owned Business Excellence (BOBE) in partnership with many other collaborators are cultivating the recognition of this holiday with this Inaugural Juneteenth Royal Ball that reclaims and redefines Community here in Washington.”
Although tickets for this event are sold out, you can join the waitlist here: https://www.eventbrite.com/…/2022-inaugural-juneteenth…

KeyBank’s Key4Women, TheWMarketplace, UW and UWT to host women-owned business pitch contest

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KeyBank’s Key4Women program, TheWMarketplace, University of Washington Foster School of Business, and University of Washington Tacoma Milgard School of Business are collaborating to host a business pitch contest for women-owned businesses located in Seattle and Greater Puget Sound. Opportunities for start-ups and existing businesses will be offered, with cash awards totaling over $47,000. The grand prize winner will earn $20,000.

Read more

SBA Launches T.H.R.I.V.E, Executive Level Business Training Program

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Registration open now through May 31st, 2022, for cohorts in Seattle and Spokane

SBA’s T.H.R.I.V.E (Train, Hope, Rise, Innovate, Venture, Elevate) is an executive-level training series designed to accelerate the growth of high-potential small businesses across the United States. Formerly known as Emerging Leaders, T.H.R.I.V.E Emerging Leaders Reimagined is a six-month, intensive training series including in-person coaching, self-paced instruction, mentoring, and classroom time. The program allows participants to work with a network of experienced subject matter experts in core business topics like accounting, business strategy, marketing, and human resources customized for the unique needs of small business owners. Read more

(253) 591-5835

747 Market Street, Room 808

Tacoma, Washington 98402