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About Bellevue City Profile

Economic
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Starting, Growing or Relocating a Business

Introduction
	Licenses and Permits
	Commercial Property
	State Tax Incentives

Assistance
	For Small Businesses
	For Entrepreneurs
	For Restaurants
	For Interactive Media Businesses
	Loans and Financial Planning

Loans and Financial Planning

Businesses unable to obtain loans from conventional financing sources can try the alternative community development lenders listed below. Alternative lenders certified by the U.S. Treasury Department can work with privately managed loan capital, including that contributed by major banks, government or foundations.

Development companies are certified and regulated by the U.S. Small Business Administration. What distinguishes these programs is a greater reliance on the relationship between the program and borrower, more flexibility in the consideration of how collateral will be valued and a stronger knowledge of the character and business experience of the borrower.

Community Capital Development: Services include capital for cash flow restructuring, tenant improvements, real estate purchases associated with a new business location, inventory, receivables financing or working capital. If local banks can offer better loan terms, CCD helps to prepare application information and facilitate the referral.

When a small business needs additional help, this fund can make loans from as little as $1,500 for things like signage improvements to loans of $250,000 for working capital or $2 million for real estate. Loans are subject to credit approval. Fees and interest rates are associated with the loans. All financial counseling and referral assistance is offered as a free and confidential service.

Washington CASH: provides training, financing and business coaches to support self-employment. Washington CASH services include business training course, microcredit lending services from $500 to $5,000, technical business assistance and peer support to enable low-income women (especially women currently dependent on public assistance), people with disabilities and new immigrants or refugees to start or expand self-employment ventures.

Evergreen Business Capital Program: specializes in packaging applications for SBA 504 loans, a long-term fixed-asset financing program. Projects eligible for loans applied for through Evergreen include land and/or building purchases, new building construction and/or building renovation, machinery and equipment purchase and leasehold improvements. Eligible businesses must have a net worth of less than $6 million and net earnings of less than $2 million (after taxes) on average for the last two years.

Small Business Administration: For update information information on fedearl Recovery Act help to small businesses, go to SBA Recovery. Recent changes include that the 504 loan program will include refinancings. In the past, SBA 504 loans were only for new real estate and equipment purchases. SBA’s America’s Recovery Capital (ARC) Loan Program can provide up to $35,000 in short-term relief for small businesses facing immediate financial hardship to help ride out the current uncertain economic times and return to profitability. Each small business is limited to one ARC loan.

Contact Information

Office of Economic Development
450 110th Avenue NE
PO Box 90012
Bellevue, WA 98009
Contact: Thomas Boydell, Manager
Phone: 425-452-4186
Fax: 425-542-5247
E-mail: tboydell@bellevuewa.gov