Grant Opportunity
Third Round of Small Business Resiliency Loan (SBRL) Program
We are thrilled to announce the upcoming launch of the third round of the Small Business Resiliency Loan (SBRL) Program, brought to you by the CACCWA Small Business Resiliency Network (SBRN) team in partnership with ** GoWest **. This is a fantastic opportunity to strengthen and grow your business through targeted financial support.
Program Success So Far:
From May to August 2024, we successfully secured ** $ 300,000 ** in grant-loans, supporting 12 local businesses with up to $ 25,000 each in the first two rounds. These loans have been crucial for businesses looking to expand, improve operations, and stabilize their finances.
Program Highlights:
- Total Loan Amount Secured: $ 300,000
- Businesses Supported: 12
- $ 25,000 Loan Amount Per Business
- 4%, with repayment terms from 12 to 24 months Low Interest Rate:
- $ 500 to $ 25,000 Loan Amounts Available
Unique Benefit:
One of the most impactful features of the SBRL program is that once the loan is fully paid off, businesses receive a * grant * equal to the loan amount. For example, if you borrow $ 25,000, you’ll receive an additional $ 25,000 as a grant after paying off the loan — giving you an invaluable resource to further invest in your business.
Success Stories:
Our loan program has supported businesses across Snohomish, King, and Pierce counties, including Seattle, Federal Way, Des Moines, Redmond, Everett, Mukilteo, and Tacoma. These businesses used their loans for:
- Expanding inventories
- Paying off debt
- Investing in new equipment and digital marketing
- Establishing new services
- Improving operational efficiency
These strategic investments have led to increased income, improved customer satisfaction, and long-term growth for these businesses.
Diverse Impact:
We are proud that the SBRL program has benefited underrepresented communities. Of the 12 businesses supported so far, 4 were women-owned and 8 were Asian immigrant-owned. We remain committed to fostering business growth across diverse communities.
Looking Ahead to the Third Round:
The third round of the SBRL program is launching from September 30, 2024, to October 25, 20024, with a total loan pool of $ 84,000, will provide businesses with loans ranging from $ 500 to $ 14,000 . While this round has a smaller funding amount, we still aim to support as many businesses as possible. Whether you need funding to expand, invest in infrastructure, or enhance your operations, we encourage you to apply.
To get started, please complete our intake form by Oct 4, 2024, and we will review your submission to determine if your business qualifies. If selected, we will notify you by email and phone call to schedule for application process.
For more information or to connect with our team, please reach out to Sreymom Pech at sreymom.pech@caccwa.org .
Do not miss this opportunity! The SBRL program is helping transform businesses, and yours could be the next success story.
