• Nov 18, 21
• spencergregory
• Revolving Loan Fund Directory
• 0 comment

Business Builder Loans are currently only available to existing Washington C.A.S.H. for clients in the counties of Cowlitz, Island, King, Kitsap, Lewis, San Juan, Skagit, Snohomish, Thurston, Whatcom, Pierce and Ferry. Business Builder Loans are fixed term loans designed for entrepreneurs who are starting a new business, have an existing business, or are purchasing an established business. The loan amounts range from $5,001 to $35,000 and can be used for business purposes only.

Uses of Funds

• New and Used Equipment
• Business Vehicles
• Materials and Supplies
• Inventory, Fixtures, Furniture
• Expansion of your Business or Acquisition of a Business

Ineligible Uses of Funds

• Payment of Existing Debt
• Operating Expenses (Rent, Utilities, Payroll)
• Owners’ Draw (Personal Income/Salary)
• Lines of Credit
• Non-Accredited Training, Seminar, or Workshop Fees and/or Materials
• Speculative Property (Real Estate, Stock, Collectibles)
• Prestart-up Research and Development
• Emergency requests (Personal Loans, Existing Business with Cash Flow Problems)

In addition to the capital, clients can also receive valuable business training, networking opportunities, and practical advice, including: mentoring, access to Washington C.A.S.H.’s computer lab and resource center, one-on-one assistance with Washington C.A.S.H. staff, and access to advanced business workshops. All borrowers are also required to meet all of the following criteria:

• The person must be at least 21 years of age
• Must be a current Washington C.A.S.H. Business Group Member
• A profitable business model (a current business plan and 12 months of projected financials)
• Possess all required city licenses and/or permits
• Possess all required state licenses and/or permits
• Possess relevant business insurance
• Possess business checking account with business name
• Acceptable credit history (credit history is evaluated in context of circumstances)
• Provide collateral equal to or greater than the value of the loan (owned property, owned vehicle, owned business assets, cosigners or guarantors)
• Show an ability to pay back the loan over the amortization period, pay the owner, and cover all operating costs
• The person must live and or have their business in the designated area in which Washington C.A.S.H. is lending – Have limited or no access to conventional forms of bank business credit

Contact Information Washington Community Alliance for Self-Help Address: 2100 24th Ave., S., Suite 380 City: Seattle State: Washington Website: https://wacommunityalliance.org/