Business Impact NW provides small business loans. 100% of those loans go to owners who can’t get funding from a traditional bank. It’s our vision that all business owners will have an equal opportunity to succeed. And sometimes funding is the key.
So where does loan money come from?
Firstly, Business Impact NW is a “CDFI,” or Community Development Financial Institution. We are certified by the U.S. Department of Treasury to help promote community development. That means we not only want to help provide access to affordable funding - but we are also required to.
With that certification, we receive funds to lend at affordable rates to business owners anywhere in Washington and Oregon. But it’s not enough. And Credit Unions, Banks, Community Groups, and Individual Investors know that – and help.
“There is a huge opportunity to impact so many businesses that are being overlooked and underappreciated,” shares the newest funding contributor, WSECU.
Business Impact NW deployed over $24million to date in 2021 from our Sustaining Partners and Capital Providers, including $1.8million from the CDFI Fund, $10.6million for PPP loans (in addition to $6.5million in 2020, and $10.1million through the Washington State Flex Fund. And deployed all of it.
That means that over $24million went directly into the hands of the small businesses that make our communities great so that they could purchase inventory and equipment, pivot their products or services, make payroll, pay bills while waiting for invoices, and more. BIPOC business owners. Military Veteran business owners. Immigrant business owners. LGBTQ+ business owners. Female business owners. Business owners like you.
Thank you to all our capital funders in 2021:
- 1st Security Bank
- Advantis Credit Union
- CNote Flagship
- CNote Wisdom
- East West Bank
- Harborstone Credit Union
- Impact Assets
- Individual Investors
- Massena Foundation
- OnPoint Credit Union
- Plymouth Church
- Prosper Portland
- Rivermark Credit Union
- Sound Credit Union
- The Russell Family Foundation
- Umpqua Bank
- United States Department of Agriculture
- The US Small Business Administration
- Verity Credit Union
Get involved: Learn more about how you can support Business Impact NW.
Looking for funding? Apply today.