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Small businesses in Washington may gain additional access to financing and business assistance following a new round of state grants supporting community lending organizations.

The Washington State Department of Commerce announced October 28, 2026, that it has awarded $4,356,000 to 11 organizations through its Equitable Access to Credit Program.

The funding supports lenders that serve businesses and entrepreneurs who face barriers when seeking conventional financing.

Participating organizations can use the grants to expand access to business loans, investments, technical assistance, and financial education.

Eleven Organizations Receive Funding

The state’s latest awards support a range of community development financial institutions and specialized lending organizations.

Recipients include Business Impact NW, Craft3, Community Impact Loan Fund, Northwest Access Fund, and several organizations serving tribal communities.

Individual awards range from $81,474 to $678,949.

MoFi received the largest individual award at $678,949.

Craft3 received $640,792, while the Chehalis Tribal Loan Fund received $633,686.

The funding will support each organization’s approved lending and business assistance activities.

These grants are awarded to lending organizations rather than directly to individual small businesses.

Business owners should not interpret the announcement as an open application for $4.36 million in direct business grants.

Program Focuses on Access to Capital

Washington established the Equitable Access to Credit Program in 2022.

The initiative is intended to help businesses in communities where conventional financing may be difficult to obtain.

Participating lenders may provide loans, investments, financial education, and other services depending on their individual programs.

At least 65% of annual grant funding must support Native Community Development Financial Institutions or organizations providing services or investments in rural counties.

The requirement directs a substantial portion of program resources toward rural and tribal communities.

However, individual borrowers must satisfy the eligibility and underwriting requirements established by their chosen lender.

The state announcement does not establish a universal loan amount or interest rate for businesses seeking assistance.

Businesses Can Also Participate Through Tax Credits

The program includes a separate opportunity for businesses that pay Washington’s business and occupation tax.

Qualifying taxpayers can contribute to the Equitable Access to Credit Program and receive a dollar-for-dollar state tax credit.

Individual contributors may receive credits of up to $1 million annually.

The overall program has an annual contribution cap of $8 million.

Credits cannot exceed the taxpayer’s applicable business and occupation tax liability.

Unused credits may be carried forward for up to two succeeding years under program rules.

The deadline for contributions during 2026 is December 31.

Businesses interested in contributing should review the state’s requirements before transferring funds.

Program Has Supported Previous Lending Activity

Washington’s first Equitable Access to Credit awards were issued in 2024.

That initial round provided $1 million to eight community development financial institutions.

According to the Department of Commerce, the funding supported 36 investments across 16 Washington counties.

In 2025, the program awarded approximately $5.6 million to 11 lending organizations.

The latest awards continue that financing initiative.

What Business Owners Should Know

Entrepreneurs interested in financing can contact participating lending organizations to learn about their available products and requirements.

Businesses should confirm service areas, eligibility, financing costs, and application procedures directly with each organization.

The state has not announced a single application process for individual borrowers seeking assistance through all 11 recipients.

For Washington’s business community, the new awards provide additional resources to organizations that help entrepreneurs and established businesses obtain financing.

A new Washington rule took effect October 10 clarifying what employers must provide when claiming an exception to the state’s advance-notice requirements for mass layoffs and business closings.

Covered employers seeking an exception must submit enough documentation to establish one of the circumstances recognized by state law. Those can include actively seeking financing that could prevent a closure, an unforeseeable business event outside the employer’s control, a natural disaster or certain temporary construction arrangements.

Acceptable supporting materials can include financial and banking records, loan applications, business plans, contracts, collective-bargaining agreements and documented attestations. Employers may redact the records submitted to the Washington Employment Security Department.

The practical change is not a new general layoff-notice period. It establishes the evidence businesses should have ready if they contend that an exception excuses them from the state’s normal notice obligations.

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