Washington Revenue-Based Financing Fund
Washington State Department of Commerce (with Grow America and Denkyem CDFI)
$10K-$500K (up to $1M)
Loan payments that flex with revenue
A flexible, alternative-to-bank small business loan program from the Washington State Department of Commerce, funded through the federal State Small Business Credit Initiative (SSBCI). Repayments flex with the business's monthly revenue rather than a fixed amortization schedule, making it well-suited to seasonal and cash-flow-variable businesses (event venues, caterers, florists, tourism). The fund is delivered through two products and lenders: the Denkyem loan ($10,000-$50,000, administered by Denkyem, a Black-owned CDFI) and the Ajust product from Grow America ($50,001-$500,000, with exceptions up to $1M). It targets historically underserved and under-banked Washington small businesses. Distinct from the Washington Small Business Flex Fund, which is a separate SSBCI-backed CDFI loan program.
- Funding type
- Loan
- Level
- State
- Amount range
- $10,000 – $1,000,000
- Realistic amount
- Most early-stage and underserved applicants land in the Denkyem range ($10,000-$50,000); est…
- Deadline
- Rolling — online pre-application open year-round.
- Status
- active
- States
- Washington
- Payment model
- loan
Who qualifies
- Located and registered in Washington State
- For-profit entity with 500 employees or fewer
- Generating revenue or have a clear path to profitability
- Denkyem product: in business at least 12 months (2 years preferred)
- Ajust product: in business at least 3 years with demonstrated ability to repay through cash flow
- Targeted to historically underserved and under-banked businesses
What it covers
Eligible expenses
- Working capital
- Equipment
- Payroll
- Rent and utilities
- Renovations
- Supplies and inventory
- Marketing and advertising
Ineligible expenses
- Refinancing existing debt
- Passive real estate investment
- Non-business personal expenses
How to apply
-
1
Pre-apply online
Answer a short set of questions about financial history and eligibility to be matched to the appropriate product (Denkyem or Ajust) and lender.
~1 hrs
-
2
Connect with the lender
Meet with the assigned CDFI/lender (Denkyem or Grow America), who guides you through the full application and collects financial documentation.
~3 hrs
-
3
Build the growth and repayment plan
Work with the lender to set a growth plan that determines the revenue-based repayment terms (percentage of monthly revenue, minimum payment).
~2 hrs
-
4
Receive capital and repay with revenue
Receive upfront capital and repay monthly as a percentage of adjusted revenue, with a minimum monthly floor.
~1 hrs
Because repayment is a fixed percentage of revenue, this fund is far more forgiving for seasonal businesses than a traditional term loan — slow months automatically mean smaller payments (down to the floor). Pick the Denkyem product if you are under 2-3 years old; the Ajust APR is materially higher, so only step up to it if you need the larger check.
Deadline & timing
Applications are accepted on an ongoing basis through the fund's online pre-application. The program is SSBCI-funded and capitalized in tranches from the U.S. Treasury, so availability depends on remaining fund capacity.
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Last reviewed 2026. GrantCompass is an independent funding-discovery tool and is not affiliated with any government agency. Always confirm details on the official program page.