Utica Small Business Grant

The Seattle Small Business Capital Access Program (CAP) pays down up to $30,000 (or 20% of the loan principal, whichever is less) on qualifying small business loans for Seattle-based businesses. Administered by the Seattle Office of Economic Development (OED), the program is designed to lower the cost of borrowing for small businesses, particularly those that have historically lacked equitable access to financial services. CAP is not a standalone grant application and businesses do not apply directly. Instead, eligibility is evaluated by a participating community lender at the time of loan approval, and qualifying borrowers receive the principal paydown automatically as part of their financing. Because of this, the most important step for interested business owners is knowing to work with one of CAP's participating community lenders when seeking a small business loan; loans from non-participating lenders are not eligible. Participating lenders include Business Impact NW, Rainier Valley Community Development Fund, Seattle Credit Union, MoFi, Grow America Community Impact Loan Fund, Pursuit, Evergreen Business Capital and Community Finance, and Denkyem Co-Op. Paydowns are issued in two installments — one after the borrower makes 12 on-time monthly payments, and a second after 24 on-time monthly payments — and are applied directly to the loan account rather than disbursed to the borrower, effectively reducing the principal owed. To be eligible, businesses must be for-profit, independently owned, located within Seattle city limits, in operation for at least 12 months, have an active City of Seattle Business License, employ no more than 50 full-time equivalent employees, generate annual gross revenue of $2 million or less, and be current on loan payments at the time of the paydown award.

Any Massachusetts-based business that has been awarded funds through SBIR Phase II may be eligible for grants and business guidance to help them create jobs and commercialize their technologies. Each year, the program awards 17 grants ranging from $100,000 to $500,000.

The Virginia Jobs Investment Program (VJIP) is a discretionary incentive that provides funding and services to qualifying companies to support new job creation or upskilling in conjunction with new or expanding operations. The cash grant and accompanying services are intended to offset a company’s recruitment and training costs. The funding for each net new, full-time job created or full-time employee retrained is based on a customized budget determined by an assessment of the company’s recruiting and training activities, as well as the project’s expected benefit to the Commonwealth. The final budget and proposal are approved in advance of the project by the Secretary of Commerce and Trade. VJIP support is typically for a 36-month period. Companies can be reimbursed 90 days after the new employee is hired (for new jobs programs) or after the retraining activity is complete (for retraining programs).

The Registered Apprenticeship Incentive is designed to offset the extraordinary costs of utilizing a Registered Apprenticeship training program. Applications are reviewed quarterly by the WDC Grant Review Committee. Funds for this grant are distributed after apprentice completes 500 hours of on-the-job training (175 hours for Youth Apprenticeship)