Washington Small Business Flex Fund
Washington State Department of Commerce (Small Business Flex Fund)
Up to $250,000
Researched for this program: 5 rejection traps · 5 required documentsWhat decides this award ↓
WA's flexible small-business loan
The Small Business Flex Fund is Washington State's flagship low-interest loan program for small businesses and nonprofits, capitalized with State Small Business Credit Initiative (SSBCI) funds from the U.S. Treasury and administered through the Washington State Department of Commerce with lending partners (Ascendus / Pursuit) and technical-assistance partners. Eligible borrowers can access loans of up to $250,000 at fixed rates roughly 1-4% above the WSJ prime rate (recently 8.25-11.25%), with 36-72 month terms and no prepayment penalties. The program is intentionally accessible to very small and underserved businesses. As of 2026 the 'Flex Fund 2' is temporarily pausing new loan applications while Commerce redesigns the program; free technical assistance continues, and the program is expected to reopen.
- Funding type
- Loan
- Level
- State
- Amount range
- $5,000 – $250,000
- Realistic amount
- Flex Fund loans are designed for small and very small businesses; typical loans run from the low tens of thousands up to around $100,000, with $250,000 being the ceiling for larger qualifying borrowers. The exact amount depends on revenue, use of proceeds, and underwriting.
- Deadline
- Rolling when open. As of 2026, new loan applications are temporarily paused during a program redesign; the pre-application questionnaire reopens when the program resumes.
- Status
- between-intakes
- States
- Washington
- Payment model
- loan
Who qualifies
- Business or nonprofit with 50 or fewer employees
- Annual revenues under $5 million
- In operation for at least one year prior to applying
- Main office or the business location primarily benefiting from the loan must be in Washington
- Loan proceeds must be used in Washington
- Open to a wide range of industries; nonprofits are eligible
What it covers
Eligible expenses
- Payroll
- Rent and utilities
- Marketing
- Building improvements / leasehold improvements
- Equipment
- Working capital and general business expenses
Ineligible expenses
- Use of proceeds outside Washington
- Activities not permitted under SSBCI program rules
- Personal, non-business expenses
How to apply
-
1
Complete the pre-application questionnaire
When the program is open, start with the online pre-application at smallbusinessflexfund.org to check eligibility (size, revenue, time in business, WA location) and get matched with a lending partner.
~0.5 hrs
-
2
Work with a lending or technical-assistance partner
A network lender (e.g. Ascendus / Pursuit) or technical-assistance partner (Roads Consulting Group, Business Impact NW) helps you assemble the full application and supporting documents.
~3 hrs
-
3
Submit the full loan application
Provide business and owner information, revenue documentation, use-of-proceeds, and required financial documents for underwriting.
~3 hrs
-
4
Underwriting, approval, and closing
The lending partner underwrites, sets the fixed rate (1-4% above WSJ prime) and term (36-72 months), and closes the loan. Funds are disbursed after closing.
~2 hrs
Because the Flex Fund is SSBCI-backed and routed through mission lenders, the free technical-assistance partners (Business Impact NW, Roads Consulting Group) can materially improve your file before it reaches underwriting — and that help continues even while new applications are paused. Get your documents prepped now so you can apply the moment the redesigned program reopens.
Deadline & timing
Flex Fund 2 is currently pausing the processing of new loan applications while WA Commerce enhances the program using SSBCI funds. No fixed deadline — it is a rolling program when active. Free technical assistance (Roads Consulting Group, Business Impact NW) continues during the pause.
Not accepting applications right now — get one email when it reopens
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