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Program is currently paused — new loan applications are not being processed while the program undergoes redesign.
Small Business Flex Fund 2 is sponsored by Washington State Department of Commerce. This program offers affordable loans to small businesses and nonprofits with competitive interest rates and flexible repayment options.
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Small Business Flex Fund – Small Business Flex Fund Join us for a free webinar on July 22 at 1pm PT to learn more about the Flex Fund 2 pre-application, meet program partners, and hear directly from a program lender about loan readiness. Your Washington small business is growing. Your funding options should grow with you.
Small Business Flex Fund 2 (Micro Loan Program) — Paused Washington’s Small Business Flex Fund 2 is currently pausing the processing of new loan applications.
As the state continues to enhance and improve the programs it offers using State Small Business Credit Initiative (SSBCI) funding from the U.S. Department of the Treasury, the Washington State Department of Commerce (Commerce) is moving the program into its next phase, incorporating recent market shifts and addressing evolving needs among both lenders and Washington’s small businesses.
The goal is to offer a broad and flexible suite of loan products that better align with current demand. As part of this transition, the Washington Small Business Flex Fund 2 will undergo a redesign to enhance its performance and effectiveness, ensuring it can more fully meet the microloan needs of small businesses across the state. During the redesign period, Commerce will pause the processing of new loan applications.
Technical Assistance (TA) is still Available Free Technical Assistance (TA) delivered through our partners, Roads Consulting Group and Business Impact NW, will remain available through the SSBCI Technical Assistance program .
These services, including support with business planning, financial statements, and more, will continue to prepare entrepreneurs for success with accessing capital and accelerate participation once the updated program launches. If you are looking for SSBCI supported capital now, please consider reviewing the Revenue-Based Financing Fund .
If you are not yet fully loan-ready, you can connect at no cost with SSBCI Technical Assistance providers through the SSBCI Technical Assistance Program . Match with loan options from trusted community lenders in minutes with the Washington Small Business Flex Fund 2.
Supported by the Washington State Department of Commerce , the Washington Small Business Flex Fund 2 helps small businesses and nonprofits access affordable loans they need to thrive. With competitive interest rates and flexible repayment options, the Fund is designed to help small businesses and nonprofits access the capital needed to grow and thrive.
A quick pre-application questionnaire for the Fund will match you to: Flexible, affordable loans from trusted lenders Fixed, competitive interest rates 36- to 72-month repayment timelines Technical assistance providers Eligible small businesses and nonprofits can borrow up to $250,000 and the money can be spent flexibly, including on payroll, utilities & rent, supplies, marketing & advertising, building improvements or repairs, and other business expenses.
Whether or not you get paired with a lender, we’ll connect you to resources that can help you prepare for a loan. Be sure to check-off additional support and resources you may need when filling out the pre-application questionnaire.
What to expect from our loan pre-application PRE-APPLICATION QUESTIONNAIRE Pre-apply for funding by filling out the information requested via a quick questionnaire, which takes only minutes to complete with no credit check required. If you’re an eligible borrower, you’ll match with trusted, community-based lenders after completing the pre-application questionnaire.
You’ll also have the option to match with additional support services as part of the pre-application. Once matched, local, community-based lenders and technical assistance providers will assist you with every step of the full loan application and provide additional support services.
To see this process first hand, check out our “How To Pre-Apply” video below for the Washington Small Business Flex Fund 2 Eligible businesses must have: Annual revenues of less than $5 million Been in business for at least one year prior to time of application Interest rates currently range from 8. 25-11.
25% depending on the length of the loan* Fixed interest rate for the life of the loan 36- to 72-month loan terms *This range is 1-4% above the current WSJ prime rate of 7. 25%, a national base rate determined by the 10 largest U.S. banks. Building improvements or repairs How does this resource help my small businesses or nonprofit?
Many small businesses and nonprofits in Washington state experience significant barriers to accessing the financial resources they need to develop and grow. The Washington Small Business Flex Fund 2 aims to provide quality, flexible and affordable loan products for you through a network of Department of Commerce-approved community lenders.
The Fund was created to provide access to affordable loans for smaller, local businesses and nonprofits like yours that need it most. The Washington Small Business Flex Fund 2 is NOT a forgivable loan program. The borrower will need to pay back the full amount of the loan with interest over a 3- to 6-year term.
The Washington Small Business Flex Fund 2 was created to provide access to affordable loans for smaller, local businesses and nonprofits that need it most. Please note the Washington Small Business Flex Fund 2 is NOT a forgivable loan program. The borrower will need to pay back the full amount of the loan with interest over a 3- to 6-year term.
HOW IS THIS PROGRAM DIFFERENT FROM TRADITIONAL LOAN PROGRAMS? The Washington Small Business Flex Fund 2 works with a network of community-based lenders and technical assistance providers with decades of experience helping Washington’s small businesses and nonprofits from underserved and underbanked communities. These community lenders can assist you through every step of the full loan process.
The Fund also aims to reduce barriers to financial resources by removing minimum credit score or specific collateral requirements and origination fees charged outside of closing costs. Funds can be spent flexibly based on your business’s needs and goals. Communities are stronger when small businesses thrive.
Whether restaurants, professional service providers, manufacturers, local farms or community-based nonprofits, small businesses and local organizations help our communities thrive, while creating jobs that contribute to the health of our statewide economy.
Community lenders committed to your success Technical Assistance Partners interest rates as of September 17, 2025 Due to a limited amount of funding availability and the high volume of pre-applications expected, it is anticipated that not all pre-applicants will be able to receive a loan. Pre-applications will be reviewed in the order they are received and will be managed to support the program’s goals.
The time it takes to process a pre-application will depend on the volume of pre-applications received by the matched community lender. Please note that submitting a pre-application is not an indication of eligibility and does not mean that a loan will be approved or funded. Additional information will be requested from the matched lender for your full loan application that will determine your eligibility for a loan.
We recommend pre-applying as soon as possible. The Washington Small Business Flex Fund 2 is supported by the Washington State Department of Commerce and the US Department of Treasury through the Washington State Small Business Credit Initiative (SSBCI).
You can visit the agency’s website to learn more about how SSBCI provides additional capital to Community Development Financial Institutions (CDFIs) and participating lenders for small businesses and nonprofits throughout Washington, particularly those in historically underserved and under-banked communities.
The Washington Small Business Flex Fund 2 is supported by the Washington Department of Commerce and the US Department of Treasury.
Based on current listing details, eligibility includes: Eligible small businesses and nonprofits in Washington state. Applicants should confirm final requirements in the official notice before submission.
Current published award information indicates Up to $250,000 Always verify allowable costs, matching requirements, and funding caps directly in the sponsor documentation.
The current target date is rolling deadlines or periodic funding windows. Build your timeline backwards from this date to cover registrations, approvals, attachments, and final submission checks.
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