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Economic Development Office

Tri-Cities Tech Business Update

October 2012 Issue

Washington State announces small business credit initiative


The Washington State Department of Commerce has announced a new Small Business Credit Initiative using more than $19 million in federal funding to create three new state programs. The Capital Access Program (CAP) will encourage lenders to make loans to businesses that fall just short of conventional business lending standards. The Craft3 Fund combines federal funding with private capital to create a fund which will target small businesses in underserved communities. The W Fund is projected to be a $25 million venture fund that will invest in early-stage life science, biotech, medical device, alternative energy, and information technology companies emerging from the University of Washington and other research centers in the state. Read more...

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