Unique funding opportunity from Washington State Department of Commerce
DIRECTLY FROM THE WASHINGTON STATE DEPARTMENT OF COMMERCE:
Commerce’s Revenue Based-Financing Fund (RBF) | Program Website | Program Fact Sheet
This fund meets the growing demands of small businesses across the state by offering upfront capital with loan repayment based on a percentage of the business’s earnings. The Grow America Community Impact Loan Fund (Grow America CILF) and other CDFI partners offers these revenue-based investments with fixed pricing, rather than charging interest. The repayment variable ranges from 1.1x to 1.5x base investment, established on monthly or quarterly revenue.
The RBF fund program offers two products:
Micro business RBF investments. Denkyem Co-op’s Scale loan provides working capital between $10,000 – $100,000 to support entrepreneurs growing their businesses.
Business growth RBF investments. Grow America CILF’s Ajust product will provide financing of working capital, equipment, and machinery in amounts between $101,000 and $500,000 to existing businesses to support growth.