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Final contribution deadline is June 29, 2027. Tax credits must be claimed by December 31, 2029. Credits available on a first-in-time basis up to $8 million annual cap.
Equitable Access to Credit Program is a grant from the Washington State Department of Commerce that channels funding to qualified lending institutions serving historically underserved communities. The program operates through a tax credit mechanism where businesses paying Washington state Business and Occupation (B&O) taxes can contribute up to $1 million annually and receive dollar-for-dollar tax credits from the Department of Revenue.
These contributions fund grants to Community Development Financial Institutions (CDFIs) that provide small business loans, technical assistance, and training to borrowers who may not qualify for traditional bank financing. At least 65 percent of all grants awarded each year must be allocated to Native CDFIs or grantees in rural counties. The program has an $8 million annual cap and accepts applications through June 2027.
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Equitable Access to Credit Program – Washington State Department of Commerce 简体中文 ( Chinese (Simplified) ) 繁體中文 ( Chinese (Traditional) ) Tiếng Việt ( Vietnamese ) Equitable Access to Credit Program The Equitable Access to Credit Program, a tax credit program, awards grants to qualified lending institutions to provide businesses in historically underserved communities with access to credit.
It offers businesses and individuals who pay state business and occupation tax (B&O) taxes a unique opportunity to contribute and receive tax credits. By making cash contributions equivalent to their B&O tax liability, participants can receive a dollar-for-dollar tax credit from the Department of Revenue (DOR). Businesses can contribute up to $1 million annually to the Program and receive tax credit.
The program provides a tax preference mechanism that generates funds for grants to qualified lending institutions. These grants, funded through contributions in exchange for B&O tax credits, are dedicated to providing access to credit for historically underserved communities.
A minimum of 65% of the value of all grants awarded in any calendar year must be allocated for native Community Development Financial Institutions (CDFI) or grantees to provide services or invest, or both, in rural counties. The Program’s goal is to encourage investment in small, rural, and underserved business to boost community and economic development in Washington. Learn more in the resources section, below.
Let Commerce know you intend to contribute by completing the Contribution Request Form . Commerce will provide the contribution account link and instructions. Once your contribution is received, Treasury will provide confirmation and receipt for your records.
Commerce will send the confirmation to the Department of Revenue. DOR will process the B&O tax credit . E-File your B&O Taxes indicating the “Equitable Access to Credit” tax credit.
Once your business has reached its annual contributor limit of $1 million or the program has reached its annual cap of $8 million, the state will not accept further contributions for the year. Contribution Requirements Money must be received by Treasury and processed by the Department of Revenue before the credit is claimed. Credit cannot exceed the B&O tax liability due for the reporting period.
Credit may be claimed in the current year or carried over for up to two succeeding years. Credit you earn from contributions in the current calendar year cannot be used against B&O tax liabilities in a previous calendar year. No refunds of the credit will be approved.
No application is necessary for the credit (but adequate records must be kept by the business so that the DOR can verify credit eligibility). Businesses are required to file electronically with the DOR for all returns. Credits are available on a first-in basis.
The maximum amount any single business may contribute (and associated credit it may earn) in a calendar year is $1 million. You cannot earn credit for contributions made after June 29, 2027. You cannot claim credits earned from the previous contribution calendar years after December 31, 2029, even if the credits are unused.
B & O taxes are due for monthly reporters on the 25th of the following month. Quarterly filers must report by the end of the month following the close of their quarter, and annual taxpayers must file by the end of January. Any tax-related questions regarding these contributions should be directed to the Internal Revenue Service at 800-829-1040 or the Washington Department of Revenue at 360-705-6705 .
Fact Sheet: How the equitable access to credit program works (PDF) . HB 1015 (RCW 82. 04.
449) (PDF) Additional information on the grant component of the Equitable Access to Credit Program will be available in the future. We encourage you to periodically check back here or look for media announcements. Shiloh Penland, Program Manager Shiloh.
Penland@Commerce. wa. gov
Based on current listing details, eligibility includes: Businesses paying Washington State B&O taxes can contribute up to $1 million annually and receive dollar-for-dollar B&O tax credits. Grants go to qualified lending institutions including Native CDFIs. Minimum 65% must serve native CDFIs or grantees in rural counties. Applicants should confirm final requirements in the official notice before submission.
Current published award information indicates Up to $1 million per business contribution annually; $8 million program cap Always verify allowable costs, matching requirements, and funding caps directly in the sponsor documentation.
The current target date is June 29, 2027. Build your timeline backwards from this date to cover registrations, approvals, attachments, and final submission checks.
Federal grant success rates typically range from 10-30%, varying by agency and program. Build a strong proposal with clear objectives, measurable outcomes, and a well-justified budget to improve your chances.
Requirements vary by sponsor, but typically include a project narrative, budget justification, organizational capability statement, and key personnel CVs. Check the official notice for the complete list of required attachments.
Yes — AI tools like Granted can help research funders, draft proposal sections, and check compliance. However, always review and customize AI-generated content to reflect your organization's unique strengths and the specific requirements of the solicitation.
Review timelines vary by funder. Federal agencies typically take 3-6 months from submission to award notification. Foundation grants may be faster, often 1-3 months. Check the program's timeline in the official solicitation for specific dates.
Many federal programs offer multi-year funding or allow competitive renewals. Check the official solicitation for continuation and renewal policies. Non-competing continuation applications are common for multi-year awards.
Public Works Board Pre-Construction Cycle is a grant from the Washington State Department of Commerce that funds pre-construction planning activities for public infrastructure projects, including solid waste, recycling, and organics systems. Authorized under RCW 43.155, the Public Works Board (PWB) loans and grants money to counties, cities, and special purpose districts to repair, replace, or create infrastructure. Eligible applicants include special purpose districts and quasi-municipal organizations; tribes, school districts, and port districts are ineligible. Applications are submitted through ZoomGrants. Approximately .5 million is available per fiscal year pool, with a deadline of May 1, 2026.
Early Learning Facilities (ELF) Program is a grant from the Washington State Department of Commerce that funds expansion, remodeling, purchase, or construction of early learning facilities serving children from low-income households. The program supports Early Childhood Education and Assistance Program (ECEAP) contractors and Working Connections Child Care (WCCC) providers to build or improve the physical infrastructure needed for quality early learning. Competitive grants are available to nonprofits, for-profit businesses, public entities, K-12 school districts, and tribal compact schools registered in Washington State. Grant funds are for capital project reimbursement only. The current application deadline is May 30, 2026. Partner organizations include the Department of Children, Youth, and Families, OSPI, and Washington Community Reinvestment Association.