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May 30, 2024

New loan programs for small businesses

OLYMPIA — The state Department of Commerce announced yesterday that it has launched the first of five planned small business loan and investment programs aimed at increasing access to capital for small businesses, particularly those that have been historically underserved or underbanked.

A total of $163 million in funding comes from the U.S. Treasury's State Small Business Credit Initiative (SSBCI). Commerce manages the SSBCI programs in Washington.


 
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