Financing your business

Washington State Procurement Technical Assistance Center (PTAC) 

Learn how to  procure government business. Snohomish County PTAC at the Economic Development Council of Snohomish County, 728 134th St. SW, Suite 128, Everett, WA 98204, Phone: (425) 248-4215, email: Kylene Binder

Snohomish County Government Recovery Bonds

Snohomish Recovery Bonds (RZED, RZFB) a new category of tax exempt private activity bonds authorized under the Recovery act to Stimulate economic recovery in “Recovery Zones.” There are two different types of Recovery Zone Bonds:

  • Recovery Zone Economic Development Bonds (RZ-EDB’s). Available solely for funding public infrastructure projects that provide economic development outcomes.
  • Recovery Zone Facility Bonds (RZ- FB’s). Available for assisting qualified private-sector businesses to finance capital improvements on a tax-exempt basis.


Snohomish County Grant Opportunities
Snohomish County’s Historic Preservation Commission

Lodging Tax Tourism Grants, wendy.becker@snoco.org

Washington State Government Financing
Washington Economic Development Finance Authority (WEDFA) Finances businesses through "non-recourse" loans referred to as "Industrial Revenue Bonds." The basic form of the transaction is:

  • WEDFA borrows the money from a bank or bond purchaser.
  • WEDFA lends the proceeds to the company in return for the company's agreement to repay WEDFA an amount equal to debt service.
  • WEDFA assigns its rights in the loan repayments to the bank/bond purchaser.
The biggest benefit to this type of financing is that the bank or bond purchaser does not have to pay income tax on the interest they earn on the investment. This means they are willing to accept a lower interest rate. WEDFA passes on the lower interest rate to the borrower, reducing the borrowing cost.
 

Federal Government
Small Business Administration, www.sba.gov
Provides multiple loan programs for small business, including the (SBA) 504 Loan and (SBA) 7a Loans.