Free Grants and Loans for Minority and Women Owned Businesses in Washington

Last Updated on August 23, 2023 by Hannah Stevens

Washington offers grants and loans to women, LGBTQ+, Latino, or other minorities. Below is a list with information about lenders and programs in your area. You can get financial assistance from banks, non-profit organizations and government programs. There are loans, grants, or even mentoring services available for start-ups and women of minority businesses. Here you can also find information about the grants for women owned businesses in Washington.

The amount of money that is available will vary. However, the majority of businesses will be able to access a variety of services such as consulting, mentoring, advertising, and other support. Any company or business that meets these criteria can apply to the funds below. Each lender, bank, or government-funded program will only allocate a portion of the money to a minority or women-owned business.

Small Business Loans And Free Grants For Women Or Minorities In Washington

Assistance is available to Washington’s black-owned businesses, women-owned companies, veterans, and other disadvantaged individuals.

Ongoing, Year Round Financial Assistance, Loans, And Free Grants

Entrepreneur Ready

It operates throughout the state and you can get a variety of services for free to help your business start. They are particularly interested in veterans, MWBE, LGTBQ, and other underserved groups. To get interest-free loans, qualified clients can also use Kiva crowdfunding platform.

This is quite similar to one of the free grants and loans for minority and women owned businesses in Virginia, the Minority Business Alliance of the Charlottesville Regional Chamber of Commerce.

Spaceworks in Tacoma

They cover Seattle, Tacoma and King County, as well as other areas of the state. The non-profit offers small business loans at 0% interest as part of Kiva. They also provide financial assistance (up to $15,000) and co-work space. Moreover, funds will be targeted at minorities (Black, Latino, Asian, etc.) as well as women, LGTBQ+, and veteran businesses in Washington. Also, there is a Business Planning program.

This is quite similar to one of the free grants and loans for minority and women owned businesses in Wisconsin, the Kiva West Allis.

Tacoma-Pierce County Chamber

In partnership with Kiva, it offers interest-free loans. Businesses can get 0% interest rate loans up to $15,000. The applicant must crowdfund, and meet certain criteria. Moreover, the money can be used to help veterans, Black, Latino and LGTBQ businesses obtain the capital they need. This also includes mentoring programs and trustees. 

Tacoma Business Center

They’re located in Tacoma, Washington, and are the MBDA-focused organization in the region. They are committed to helping women and minority owned businesses to apply for low-cost loans or financial assistance from the federal government, state, or local banks. They also assist businesses in obtaining capital and increasing their revenues.

WOW Tri-Cities

WOW Tri-Cities is a program that helps the Tri-City region (Kennewick, West Richland, Pasco). This non-profit assists marginalized and disadvantaged minority owned businesses. Assistance includes networking, workshops, creating business plans, information about grants and raising capital, and information on grants. This non-profit also focuses on Black and Brown business.

Tri-Cities Hispanic Chamber of Commerce

A variety of assistance programs and services are available to small businesses, including loans like the Small Business Flex Fund program. Priority is given to Latino, Hispanic and immigrant owned businesses. However, any SMB can apply for support. They also offer mentoring programs, networking events, training, and more.

Washington Small Business Development Center

There are many volunteers and leaders in the community that help small business owners. The Washington Small Business Development Center offers free advice about business plans, raising capital, marketing tips, IT support, and other topics. They may also be able to refer you to grant applications. Black, Latino and Women business leaders are also present at the development center to provide help.

Umpqua Bank of Washington

They offer interest-free loans to underserved small business owners. Financial assistance is also available to Black, Latina, and other women owned companies, as well as other veteran or BIPOC owned businesses. Umpqua Bank will also match the money. Moreover, small business owners, veteran or BIPOC entrepreneurs in the state of Washington, people with disabilities, and others are qualified to apply for the free loans with grants.