Loans & Grants available through City of Tacoma Community Reinvestment Project (CRP)
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.
Small Business Loans
- Uplift Loan Program
The Uplift Loan Program offers no-collateral loans of up to $100,000 for small businesses that have been excluded from traditional financing opportunities. This program supports Tacoma businesses impacted by systemic barriers, providing manageable loans to those with potential but limited cash flow or collateral. Whether you’re hiring staff, purchasing inventory, or expanding your services, the Uplift Loan Program helps you grow and contribute to Tacoma’s economy.
- Accelerator Loan Program
The Accelerator Loan Program provides loans ranging from $500,000 to $1,000,000, helping established Tacoma-based businesses with significant growth potential expand operations, improve efficiency, or scale into new markets. This program addresses challenges such as limited collateral while enabling large-scale growth and development.
Small Business Grants
- Commercial Rent Grant
The Commercial Rent Grant offers financial relief to Tacoma businesses by covering up to 50% of one year’s rent, with a maximum grant amount of $25,000. This grant is designed to help businesses reallocate funds typically spent on rent toward growth-driving activities such as hiring staff, marketing, or improving operations.
- Commercial Assets Grant
The Commercial Assets Grant provides funding for Tacoma businesses to purchase essential equipment, technology, or other assets that directly enhance operations and drive growth. This program helps businesses modernize, improve efficiency, and sustain long-term success by supporting investments that increase revenue, streamline processes, or expand services.
