WA: Applications open for Equitable Access to Credit grant program
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Applications open for Equitable Access to Credit grant program – Washington State Department of Commerce Divisions Divisions Economic Development Housing Division Community Services Energy Division Local Government Programs Funding Current Opportunities Contractor Portal News Media Archive About About Executive Leadership Legislative Resources Standards and Policies Jobs at Commerce Contact Languages English Español ( Spanish ) العربية ( Arabic ) 简体中文 ( Chinese (Simplified) ) 繁體中文 ( Chinese (Traditional) ) 한국어 ( Korean ) ਪੰਜਾਬੀ ( Punjabi ) Русский ( Russian ) Soomaali ( Somali ) Українська ( Ukrainian ) Tiếng Việt ( Vietnamese ) 日本語 ( Japanese ) Skip to main content Applications open for Equitable Access to Credit grant program Opportunity Type: Request for Application (RFA) Important Dates: Question and answer period: March 17-April 10, 2026 Pre-proposal conference: March 25, 2026, 2:00-3:00 p.m. PT via online platform Proposals due: April 28, 2026 at 5:00 p.m. PT Commerce is initiating this request for applications from qualified lending institutions to provide businesses in historically underserved communities with access to credit. The funding allows these organizations to offer technical assistance services, small business training, loans and investments to borrowers who might not be eligible for traditional bank loans. Considered “unbanked”, the Equitable Access to Credit Program’s qualifying loan recipients might not have bank accounts, might have poor credit or no credit at all. The program goal is to encourage investment in small, typically rural, and underserved businesses to boost community and economic development in Washington. Funding Commerce has about $4,356,000 available from the Equitable Access to Credit Program, and the grant awards typically range from about $50,000 to over $1M. Funding comes from a unique program offering businesses and individuals who pay state business and occupation tax (B&O) taxes the ability to contribute and receive tax credits. By making cash contributions equivalent to their B&O tax liability, participants can receive a dollar-for-dollar tax credit from the Department of Revenue (DOR). Once a business has reached its annual contributor limit of $1 million or the program has reached its annual cap of $8 million, the state will not accept further contributions for the year. As a special preference, a minimum of 65% of the value of all grants awarded in any calendar year must be allocated for native Community Development Financial Institutions (CDFIs) or grantees to provide services or invest, or both, in rural counties. Eligibility This competitive Request for Applications (RFA) is open to private, non-profit, tribal and public entities, as outlined in RCW 43.390.020 Timeline Attend the pre-proposal conference on March 25, 2026, 2:00-3:00 p.m . Please note: The conference will be virtual only, held on a platform such as Zoom or Microsoft Teams. This virtual meeting is not mandatory