Financing your Startup

Entrepreneurs are fueled with an independent spirit and that’s true when it comes to financing their ventures too. Approximately 70 percent of small businesses are initially funded from the owner’s pockets or through small loans agreements with family and friends. This method of bootstrapping enables you to use whatever seed money and resources are on hand to quickly get your business started. Visit our financial planning page for resources available to help your business.

Sources of Financing for Startups
There are a limited number of options for financing your start-up venture. Here are a few.

Local Banks and Credit Unions
Keep in mind that most commercial lenders are less likely to loan to startup businesses. However, be sure to check with you local bank or credit union. Once your business has a proven track record (in operation for two or more years), you may be eligible for more business loan opportunities.

Business Impact NW
There are a limited number of local community development organizations that work with startup businesses. These business loans typically have higher interest rates compared to traditional bank loans. Click here to view a financing brochure.

  • BusinessImpactNW
     BusinessImpactNW will offer loans to startups. SBA loan amounts range from $2,500 to $50,000. Non-SBA loans range from $2,500 – $100,000. BIN finances equipment; furniture and fixtures;manufacturing and technology-based production needs; working capital; purchase or tenant improvements to commercial property; franchises;cash flow restructuring;and more. BIN has a Veterans specific loan program and a Women’s Business Center.
    Address: 1437 S Jackson Street, Seattle, WA 98144
    Website: www.businessimpactnw.org
  • CRAFT3 (formerly Enterprise Cascadia)
    Craft3 offers loans to low-income, minority, women or immigrant-owned businesses, non-profits, and businesses that create family wage jobs. Loans are available for commercial real estate, start-ups and expansions, working capital, energy-efficiency work, acquisitions, inventory, fixtures, equipment and related business property. Start-up loan amounts range from $10,000 to $250,000.Craft3 has a Native American specific loan program.CRAFT3 is on site at the City of Tacoma’s Offices twice a month and by appointment
    Contact: Walter Acuna at 206.447.9226 ext 112 or email wacuna@craft3.org            Address: 401 Second Avenue South, Suite 301, Seattle, WA 98104
    Website: www.craft3.org
  • Ventures 
    Business Builder Loans are loans designed for startups, existing businesses, or purchasing an established business. Loan amounts range from $5,001 to $35,000.
    Contact: 206.352.1945 or info@venturesnonprofit.org
    Address: 2100 24th Ave S., Suite 380, Seattle, WA 98144
    Website: http://venturesnonprofit.org/