For Immediate Release: December 5, 2011

OLYMPIA – Gov. Chris Gregoire and the Washington State Department of Commerce today announced that help is on the way for our state’s small businesses seeking new sources of financing to grow and create jobs. Commerce was recently awarded $19.7 million from the U.S. Department of Treasury to launch the Washington Small Business Credit Initiative - three new programs designed to spur investment and lending to businesses throughout the state.

“About 95 percent of Washington businesses are small businesses and they need help right now to grow and provide the jobs that will accelerate economic recovery in every community around the state,” said Gregoire. “With the Small Business Credit Initiative, we are removing a big barrier to their success by opening more pathways to financing that’s been scarce during this recession.”

It’s estimated that through 2016, the Small Business Credit Initiative could result in 3000 to 6000 direct and indirect jobs. Read more...