Need help in achieving success for your business? Does your enterprise provide goods and services that benefit the community? Do you need extra funding resources to facilitate the growth of your business? Well, the City of Seattle comprises non-profits and programs that provide business assistance services to female entrepreneurs. This article discusses those resources. Have a business idea and wondering where to start? Keep reading this article for business opportunities, benefits, and grants for women in Seattle, Washington.
Small Business Stabilization Fund
The small business stabilization fund program provides grants to a women-owned small business as well as workers in the hospitality industry. The fund is regulated by the Seattle Office of Economic Development. All the businesses that apply for the stabilization fund are awarded money to support the growth of their businesses. Want to apply? Well, you must complete an online application. During your application, you must present your Unified Business Identifier (UBI) NUMBER and your business license for the City of Seattle. Visit https://secure.dor.wa.gov/gteunauth/_/ to find your UBI. What if you qualify for this grant? What next? If you are selected for the small business stabilization fund, there some things you will still provide before you get hold of the grant. First. You will need to visit https://fedgov.dnb.com/webform/ and request the federal DUN’s number. Then, you will need a Business Employer Identification Number (EIN). Have you misplaced your EIN? Please visit https://www.irs.gov/businesses/small-businesses-self-employed/lost-or-misplaced-your-ein#:~:text=Ask%20the%20IRS%20to%20search,local%20time%2C%20Monday%20through%20Friday. And request an EIN. You will need to provide business taxes and details of your bank account.
Craft3 has been lending funds to small businesses and non-profits throughout Washington since 1994. It provides finance to both startups and already existing businesses, including those that do not qualify for the traditional loans. Once you get hold of the funds, you can use them for working capital to help with your normal business operations, buy new equipment or inventory, and real estate. The program loans range from $25,000 to $3,000,000 and the terms and interest rates vary. For more details about Craft3, please visit https://www.craft3.org/.
Self-Employment Assistance Program (SEAP)
The SEAP program enables unemployed workers to generate employment opportunities for female workers through self-employment. Participants of the SEAP program are allowed to create employment in the industry they are interested in and help stimulate the growth of the local and national economy. If you can start a new business, you generate jobs for the people you hire and for yourself. SEAP can help you realize your dreams by making income available through self-employment support. How does SEAP help? The program provides training on self-employment and counseling services, while you seek unemployment support in the local, state, and federal programs. once you apply and qualify for a training program, you don’t have to struggle to look for another job. That is because this program guarantees your success in starting a business venture. Who qualifies for the SEAP support? You have to be eligible for other unemployment benefits, demonstrate that you are running out of benefits, and enroll in the Employment Security Department’s Commissioner-training approved program. Approved training programs by the commissioner include business counseling, technical support, and entrepreneurial training. Want to apply? Please visit https://esd.wa.gov/jobs-and-training/self-employment-assistance-program.
The venture is a non-profit that is committed to supporting female entrepreneurs and business owners through business training, financial coaching, and referrals to resources to support the growth of their enterprises. Their goal is to change lives by building businesses in the City of Seattle. Ready to achieve your entrepreneurial goals through Ventures? Well, visit https://www.venturesnonprofit.org/courses/orientation/ to register for a free orientation. You will then go through a short business course, which covers topics, including marketing, sales, finance, and management. The last step is receiving specialized services, including funding opportunities and other training. You only get access to these services once you graduate from the short business course. How can you invest in the Ventures? Volunteer and share your business experiences with fellow women entrepreneurs. You can also support this organization’s mission by donating to help build small businesses and improve the quality of life in your community. The organization allows women to collaborate with them for a greater impact in the community. Find out more at https://www.venturesnonprofit.org/.
Office of Economic Development – Capital Access for Women-Owned Small Businesses
The women-owned small business in the City of Seattle faces many challenges in the course of their daily operations. Challenges may include high-level crime, especially for a business located in the urban areas of the City. Unprecedented levels of construction are also a common challenge businesses in Seattle’s face. Access to capital is a major challenge and has become a barrier to the expansion and growth of these businesses. The good news? The City of Seattle addresses these challenges through funding opportunities that allow women-business owners to have easy access to capital to support the expansion of their enterprises. Through the Small Business Stabilization Fund Pilot, small business owners can receive funding through grants of up to $10,000. Visit http://www.seattle.gov/economicdevelopment/small-business/access-to-capital-for-small-businesses/stabilization-fund-pilot to apply. Small Business Tenant Improvement Fund Pilot provides grants of up to $50,000 to small women-owned small businesses to support their expansion. Apply for the grant at http://www.seattle.gov/economicdevelopment/small-business/access-to-capital-for-small-businesses/tenant-improvement-fund-pilot. For more information, visit http://www.seattle.gov/office-of-economic-development/small-business/small-business-programs.
Business Impact NW
BINW provides female entrepreneurs with access to capital to expand their businesses. BINW is an SBA preferred lender and works to help small businesses achieve their lending goals. It provides funds ranging from $2,500 to $250,000. The organization also provides business coaching and courses that help entrepreneurs make the right decisions concerning their businesses. Visit http://businessimpactnw.org/.
Rainier Valley Community Development Fund
The RVCDF serves women-owned businesses in the Southeast of the City of Seattle. It is a non-profit organization committed to providing funding opportunities to small businesses. You should note that this organization’s lending criteria are very different from that of traditional lenders. In other words, to qualify for these loans, the organizations look into the business character, capacity, cash flow, and what impact your enterprise brings to the people of Rainer Valley. Their loan terms and rates are also more flexible compared to those of traditional banks. The organization provides loans ranging from $50,000 to $2,000,000. For more details, please visit https://rvcdf.org/.