Reflecting on 2024: A Year of Transformation and Growth

2024 was a remarkable year of transformation, empowerment, and progress for the businesses we proudly serve. We are excited to share some highlights that defined Business Impact NW’s 2024 journey and showcase the entrepreneurs we support.

We work diligently to empower entrepreneurs at every stage of their journey, with a special focus on underbanked businesses. From tailored workshops and networking events to one-on-one coaching sessions and access to capital, 2024 exemplified that dedication while equipping entrepreneurs with the tools, knowledge, and connections they need to succeed. Read on to learn more about our proudest moments of the year.

Strength in Collaborations: Key Highlights

In 2024, Business Impact NW collaborated with key partners, including Pierce County, the City of Seattle, APEX Accelerators, SCORE, the SBA, and others to improve accessibility to resources for small businesses. Through these collaborations, we provided tailored assistance and genuine support to empower entrepreneurs.

As we continue our commitment to serving business owners, we proudly recognize business owners through our partnership with Boeing on the Aspire Program. This year, multiple entrepreneurs attended the four-week program, culminating with a graduation ceremony on Joint Base Lewis-McChord. Former Boeing Program Manager Armando Mejia arrived in person to congratulate the graduates on behalf of Boeing. The successful completion of the cohort led to increased funding for the program’s continuation.

We were honored to partner with the Port of Seattle on the Business Accelerator Program, further enhancing opportunities for business owners. During this 3-month program, the 10 entrepreneurs gained a deeper understanding of contract processes and procurement, attended networking events, and were supported through mentorship with industry professionals. This program deepened their understanding of how to successfully bid and obtain contracts throughout multiple sectors of the Port of Seattle, increasing access to opportunity and growth. Amanda Tehaney, Project Manager for Business Impact NW, says,

“The Port Accelerator is more than a cohort; it is a chance to build community. So many business owners do this alone, doing everything they can without rest or reprieve, to build their businesses from the ground up.” Amanda emphasizes, “It’s my hope they walk away knowing they aren’t alone, they have one another, and also the support and dedication of Business Impact NW, and large organizations like the Port, which want them to succeed.”

Grants Achievements

In 2024, Business Impact NW secured over thirty grants, including multi-year awards, significantly boosting projected income in this sector. We were honored to have the Federal Home Loan Bank of Des Moines generously match gifts from Harborstone Credit Union and Unitus Community Credit Union through their Member Impact Fund, increasing organizational capacity. This supports our mission of creating jobs through small business.

In addition, Business Impact NW was awarded a 3-year grant from the U.S. Department of Agriculture’s (USDA) Western Extension Risk Management Education Program to fund our Roots to Rise Business Accelerator. This grant supports and empowers food and farm business owners throughout Alaska, Idaho, Oregon, and Washington.

Henry Hitt, Chief Financial Officer and Chief Operations Officer of Business Impact NW, says,

“At Business Impact NW, we are proud to have implemented meaningful, cost-saving, and organizational improvements throughout 2024. These efforts reflect our deep commitment to improving life for the people we serve and those who serve alongside us- fostering a stronger, more compassionate community.”

Broadening Our Reach

As Business Impact NW grows, we expand our reach to assist business owners in our four-state region. In 2024, our VBOC, which covers Alaska, Idaho, Oregon, and Washington, expanded to include coverage of Coast Guard bases and more in-person resources for businesses.

In 2024, we expanded our WBC to Idaho, increasing access to resources for women business owners. We welcomed Paige Wiscombe as the center’s director.” She says,

“We are excited to provide Idaho businesses with the resources and support they need to thrive, especially in rural areas. Through one-to-one coaching, training, networking, and access to funding, we empower entrepreneurs across the state to grow and succeed in their businesses.”

Community Impact & Outreach

Business Impact NW actively engages the community through training sessions, tabling events, and drop-in sessions at libraries, chambers of commerce, and networking events.

In rural communities such as Valdez, Alaska, and Yakima, Washington, our services include telephonic, virtual, in-person, and drive-to-client options to accommodate all business owners. With communities like Yakima and Valdez showing growth and increased interest in entrepreneurship, Business Impact NW is proud to be a part of their business journey.

Business Impact NW staff are working with communities to host in-person coaching sessions and workshops, fostering stronger partnerships. In addition, Business Impact NW routinely participates in farmer’s markets and business expos, and we host community engagement events for small businesses across the four-state region.

New Additions

2024 was marked by incredible growth for the organization, with 14 new staff members joining our team. With our onboarding process improved, they enjoyed a user-friendly and more streamlined experience. Ashley Clark, Human Resources Manager for Business Impact NW, says,

“2024 was an exciting year of growth and expansion for Business Impact NW. We hired 14 new employees to take support roles in every state we serve, including opening a brand-new WBC in Idaho! The Technical Assistance and Lending departments hired the most, building teams to carry out our mission across the northwest.”  

In a significant development, Kyle Lovell joins us as our Chief Lending Officer. Having worked previously in the food industries, Kyle innately understands the entrepreneurship journey of the food and farm business. With her background in non-profits and lending experience, Kyle brings knowledge to Business Impact NW, including specialized expertise with U.S. Small Business Administration (SBA) loan programs.

Expansion was not limited to just staff, as we updated our Board of Directors. We are proud to highlight our three newest members: Sean O’Mealia, Vice President of BECU; Kurt Heath, Director of Corporate Communications for Umpqua Bank; and Megan Snyder, Vice President of Strategic Partnerships and Portfolio Management at Unitus Community Credit Union, working with our Board of Directors.

New Look, Same Values

In 2024, we experienced significant growth and transformation through a rebranding effort that updated our visual identity. This update improved communication, enhanced user experience, and strengthened brand recognition for partners and clients. Faith Hamilton, Senior External Affairs Manager, states,

“I’m really proud of the updates we’ve made to the website. We’ve focused on showcasing our clients through their photos and quotes while improving navigation to make it easier for entrepreneurs to find the resources they need. I hope the changes make the site truly useful for everyone.”

Key Moments in 2024

Signature Events

This year’s events once again highlighted the range of businesses, collaboration, stories, and successes of the incredible entrepreneurs we work with. Celebrating Dreams was held at the beautiful Daybreak Star Indian Cultural Center in the serene Discovery Park in Seattle. The networking event, which showcased 50+ businesses and had over 200 attendees.

Impact Pitch, our signature regional event, was hosted at Imperia Lake Union on October 30th. The competition highlighted the talents of several entrepreneurs and offered cash prizes to help them grow and succeed. This year’s finalists highlighted the importance of a range of small businesses and the economic development they foster in their own communities.

Milestones and Strength Found in Loss

In 2024, we celebrated various milestones, such as anniversaries, open houses, and networking events for partners and programs, and received accolades like the U.S. SBA Community Partner Award in Alaska. We also overcame loss while honoring the memory of Roland Chaiton, our former Senior Vice President and Director of Strategic Initiatives. Roland passed away earlier this year due to complications from cancer, but his legacy lives on. His unwavering dedication to small business owners has impacted everyone at Business Impact NW, including the many clients he served. Joe Sky-Tucker, CEO of Business Impact NW, recalls.

“Roland provided us with stability through the rocky times when we were figuring out what we were supposed to be. He will be missed terribly, but his legacy lives on in all those whose lives he touched and in the stability of this organization.”

Business Support

Business Impact NW has served over 2,500 clients this year through workshops, webinars, and classes such as Launch & Grow, Grow & Thrive, Square One, and Business Expert Sessions. We have continued to provide personalized business coaching, essential financial literacy, loan readiness support, credit counseling, and financial education through certified advisors.

Our training is available in person, virtually, and on demand. As we remain committed to supporting small businesses, we look forward to focusing on how we can further enhance our services in the future. Kyle Lovell adds,

“Lending is looking forward to increased client connection. Spreading the word further about all Business Impact NW has to offer.”

In 2024, we proudly disbursed nearly 100 loans. This helped provide access to capital, supporting businesses achieve their goals and contribute to economic growth in their communities. This funding empowered entrepreneurs on their journey to achieve their business goals and contribute to economic growth in their communities.

Tuan Phan, owner of Eyedentity Studio LLC and Business Impact NW client, says,

“I have been an independent esthetician for years, and branching out to build my studio has been challenging. As most entrepreneurs would understand, getting access to capital through the traditional route with the banking system requires at least 2 years in business, so it was quite discouraging to go through it. Thankfully, I came across Business Impact NW, which offers lending opportunities for small businesses like mine with newer credit to apply.” She adds, “The advisors at the Capital Readiness Program were helpful throughout the process and made it much more manageable. I qualified for a micro-loan to finish building my business, and I am so thankful for their help. To all small business owners looking for help, Business Impact NW is the right place to help set you up for the right start. Good luck on your journey, and thank you, Business Impact NW, for your help and guidance!” 

Vision for the Future: Our North Star Vision

As we conclude this remarkable year, we are optimistic about the opportunities that 2025 will bring. With new businesses, programs, and partnerships on the horizon, we remain dedicated to supporting small businesses and empowering communities.

By 2030, Business Impact NW will help 5,000  business owners build wealth in their communities by strengthening their businesses’ financial sustainability.

Thank You

We would like to express our heartfelt gratitude to our clients, partners, sponsors, and supporters for making this year incredible. Together, we have accomplished many things and are excited to see what the future holds. Here’s to 2025—a year where entrepreneurship thrives!

Learn more about Business Impact NW here.