Small Businesses are the heart of local communities. They drive the economy by creating jobs, supporting innovation, and building community prosperity. However, some demographics face significant challenges when accessing capital for launching or operating businesses. Very small businesses (VSBs) and businesses owned by socially and economically disadvantaged individuals (SEDI) tend to face more barriers than other entrepreneurs. These small businesses need funding, and with programs like the State Small Business Credit Initiative (SSBCI), lending options become more accessible.
The SSBCI is making major strides to lower these financial barriers. A nearly $10 billion initiative, the SSBCI aims to empower small businesses and entrepreneurs across the United States. It offers funds to states and technical support to promote the stability of current businesses, encourage growth within all small businesses, and ensure their success. 
As a proud partner with the SSBCI initiative in Washington and Oregon, Business Impact NW supports equitable access for all small businesses. In partnership with the Washington State Department of Commerce and Business Oregon, Business Impact NW provides loan funds and tailored business support to entrepreneurs.
Small Business Support
Some entrepreneurs face challenges to traditional lending, insufficient access to credit opportunities, and limited professional networks. These obstacles often affect underbanked entrepreneurs, holding back opportunities for small businesses to advance.
The SSBCI offers a range of resources to help alleviate these challenges. It offers tailored funding options, such as equity investments, loan participation, guarantees, and collateral. Additionally, it provides technical assistance, equipping entrepreneurs with the tools needed for stability, growth, and success.
Business Impact NW Drives Small Business Success
In partnership with the SSBCI initiative, Business Impact NW offers resources such as free business coaching, classes, loan readiness, and access to capital. Our free services are customized to meet the individual needs of many small businesses. Some of Business Impact NW’s resources are:
- Free Business Coaching: Personalized guidance to address challenges and opportunities
- Financial Planning: Expert advice on budgeting, credit management, loan readiness, and access to loans
- Workshops and Training: Free educational resources, including on-demand viewing
- Referrals: Referrals to trusted community business support organizations
Unlock Your Business Potential Today
Getting connected with these resources is easier than you may think. To better understand your business needs and goals and get you the right services, please fill out these quick assessment forms:
After completing the assessment, you will need to become a Business Impact NW client by registering for Business Coaching here. Business owners are then strategically matched with a certified business coach. From there, you can schedule confidential one-on-one sessions- in-person, by phone, or virtually- to start personalized business coaching on topics such as: 
- Information and access to SSBCI funds
- General business coaching
- Financial coaching and planning (budgeting, credit counseling, loan qualification and applications)
- Free financial workshops and training
- Referrals to trusted partners offering accounting and legal assistance
To provide wraparound services, Business Impact NW collaborates with trusted partner organizations on training and referrals. This ensures entrepreneurs receive the full range of resources needed to access funding and thrive.
About the author
Emma Seymour is a Communications and Public Relations professional specializing in storytelling, relationship building, and content development. A military spouse and former small business owner, she advocates for veterans, transitioning service members, and their spouses, and has delivered keynote speeches on workforce development, military programs, and childhood trauma.