The Small Business Flex Fund Loan
Supported by the Washington State Department of Commerce, the Small Business Flex Fund is designed to help small business owners and nonprofits access funds at a competitive interest rate so they can bounce back stronger than ever.
The Small Business Flex Fund Loan
eligibility
To be eligible, an applicant must:
-
- Have fewer than 50 employees
- Minimum FICO score 575
- Must be in business for at least one year
loan terms
Key loan terms include:
- Borrow up to $150,000
- 1-4% interest rate
- 36-72-month loan terms; interest-only payments for the first year
A truly small business-friendly loan
Many small businesses and nonprofits in Washington state experience significant barriers to accessing the financial resources they need to develop and grow, and the COVID-19 pandemic only made things harder. This is especially true for organizations in low-income areas and those led by women and people of color.
The Small Business Flex Fund was created to provide access to growth capital for smaller, local businesses and nonprofits that need it most, ensuring a greater economic recovery for all of Washington.
Since my first loan with Ascendus, I have increased my staff, the number of children I can serve, and raised my credit score by 90 points.
Ascendus has really gotten me into a good habit of keeping up with my finances, making sure I’m noting what’s going out the door and what’s coming in. It’s been a really great learning experience that’s given me confidence and consistency.
You guys are amazing. Very reliable. I can rely on you all. Like if I need help I could definitely depend on you guys.
