The Equitable Access to Credit Program was created by the 2022 State Legislature (HB 1015), with the support of WACIC, to form a new five year program at the Department of Commerce with up to $40 million in funding to partner with CDFIs for expanding access to loans and financial services in underserved communities in Washington State. The tax credit program offers businesses and individuals in Washington with a B&O tax liability an opportunity to make cash contributions equivalent to their B&O tax liability and receive a dollar-for-dollar tax credit up to $1 million annually. Funds raised through the program are allocated in grants to CDFIs.

The Department of Commerce oversees the program and it is easy to contribute. Please visit the online portal for the program get started by completing the Contribution Request Form.

Overseen by the Department of Commerce, the Washington Small Business Flex Fund “was created to provide access to affordable loans for smaller, local businesses and nonprofits that need it most.” In partnering with CDFIs, the Flex Fund draws on their community experience in supporting nonprofits and businesses operating in historically underserved communities.

To learn more about the Small Business Flex Fund 2, please visit SmallBusinessFlexFund.Org.