Helping Rainier Valley businesses succeed
The Rainier Valley Community Development Fund was created to assist Rainier Valley businesses and entrepreneurs. Since 2006, we've been offering loans with flexible terms and at affordable interest rates to help businesses overcome the disruption caused by the building of the light rail system. The program has been so successful that we plan to continue making loans to Rainier Valley businesses, using money from private as well as public funds.
Here's what we offer to help local businesses:
Business expansion and incentive loans
Incentive loans are designed to help existing companies stabilize, strengthen, or grow their business. Loans are also available for new businesses or businesses new to the community that will provide new services and/or jobs for Rainier Valley residents.
People use business incentive loans for:
- working capital
- equipment purchases
- refinancing existing debt
- improving, expanding, or purchasing a place of business
The incentive loans average $200,000 for a term of 5 years, but range from $50,000 to more than $500,000.
How do businesses get a loan?
Our criteria are not the same as those at traditional lending agencies. We look at factors including character, business capacity, and projected cash flow, as well as the impact a business will have on the Rainier Valley community. The first step is to meet with the business loan officer to discuss your credit needs.
Real estate development loans
We also offer loans for real estate development projects for nonprofit and for-profit agencies.