Financial Support

A variety of state, regional, and federal programs are available to provide financial assistance to companies in specific sectors and to new and growing businesses regardless of sector. In addition, funding may be availble through one of the investment networks that target Northwest companies. If you need additional assistance, please contact us or the Klickitat County Economic Development Department (KCEDD).

Local

No local financial support programs are currently available.

State

Washington Department of Commerce
Office of Economic Development and Competitiveness
206-256-6100

Collateral Support Program: Provides credit enhancement to facilitate commercial bank loans to small businesses that have faced challenges in getting the capital needed to grow and support jobs. Funding may be obtained for place of business acquisition, construction, or renovation, working capital, the purchase of equipment or inventory, and/or the payment of franchise fees. Several commercial banks participate in the program including two with branches in White Salmon: Columbia Bank and Umpqua Bank.
State Export Voucher Program: Supports eligible small businesses that wish to begin or expand the export of their products. Qualifying companies must be registered in Washington State, have a Federal Identification Number with a Washington address, meet the SBA definition of a Small Business Concern (including being in business for at least on year and able to demonstrate export readiness), and export goods of US origin or with at least 51% U.S. content (ex-factory price of a good minus the aggregate value contributed by non-U.S. sources). Applications must be submitted at least one month before the planned export activity. Expenses eligible for reimbursement include website translation, search engine optimization (SEO), or localization (max. $6,000), compliance testing of an existing product for entry into an export market (max. $6,000), costs associated with international intellectual property protection (max. $120 for US Patent and Trademark Office [USPTO] Patent Cooperation Treaty [PCT] transmittal fees, $200 for USPTO PCT non-electronic filing fees, $1,040 for USPTO PCT search fees, $60 for Hague International Design Application transmittal fees, and $250 for Trademark Madrid Protocol fees), export research tool subscriptions (max. $2,000), marketing media design excluding printing costs (max. $6,000 with prior approval), shipping sample products to international buyers (max. $4,000), and U.S. Commercial Service programs.
Forest Products Financial Assistance Program : Supports the development and expansion of forestry and agroforestry product industries in Washington State with an emphasis on the use of woody biomass–including by-products of forestry management activities and wood products manufacturing. Proposed projects may utilize biomass to provide thermal energy, electrical energy, or engineered fuel products or result in energy efficiency improvements. Additional program goals include enhancing forest ecosystem function, reducing forest fire hazards, and supporting resiliency of rural, timber-dependent communities. All grants must be matched at least dollar-for-dollar with other, non-federal funds.

Washington Department of Revenue
800-647-7706 (Teletype 800-451-7985)

Aerospace Manufacturer Tax Credit: Available to manufacturers and processors for hire of commercial airplanes and component parts of commercial airplanes (limited to qualified preproduction development expenditures); manufacturers of commercial airplanes or their component parts (limited to the property taxes and leasehold excise taxes paid on new buildings, land upon which the new buildings are located and increased value or renovated buildings used exclusively for manufacturing commercial airplanes or their component parts and property taxes paid on equipment eligible for the machinery and equipment exemption); and businesses that develop, design, and engineer (but do not manufacture) commercial airplanes and component parts.
Multiple Activities Tax Credit: Available to any business that performs more than one taxable activity for the same product. It reports each activity under the proper classification, but takes the MATC credit so the Business and Occupation Tax is not paid twice on the same amount (e.g. a business that both manufactures and sells a product at wholesale). This also applies to any business that has paid a gross receipts tax to another state.
Rural County Business and Occupation Credit for New Employees: Provides a credit against the Business and Occupanty tax for each new employment position filled and maintained by a qualified businesses located in a rural county (e.g. Klickitat County) or Community Empowerment Zone (CEZ). The program provides a credit for each new qualified employment position based on the annual wages and benefits: $2,000 when $40,000 or less and $4,000 when over $40,000. To receive a credit, the average qualified employment positions at the specific facility must increase by at least 15 percent over the following four calendar quarters from the period in which the employee was hired.
Small Business Business and Occupation Tax Credit: This credit is available for businesses whose total Business and Occupation Tax liability is below $71 for monthly taxpayers, $211 for quarterly taxpayers, or $841 for annual taxpayers.
Manufacturers' Sales/Use Tax Exemption: Exempts machinery and equipment used directly in a manufacturing operation or research and development operation from retail sales and use tax. Sales of or charges made for labor and services rendered in respect to installing, repairing, cleaning, altering, or improving qualifying machinery and equipment are also exempt from sales tax. In addition, the exemption may be taken for qualifying machinery and equipment used directly in a testing operation by a person engaged in testing for a manufacturer or processor for hire. The property must be a device, industrial fixture, support facility, or tangible personal property that becomes an ingredient or component of any of the above (including repair and replacement parts, lubricants, etc.) with a useful life of one year or more and used more than 50% of the time for an eligible activity. Available to businesses in Klickitat County and other rural counties.

Washington Economic Development Finance Authority
206-587-5634
Contact Form

Issued by the WEDFA, non-recourse revenue bonds (aka industrial development bonds) can deliver taxable and tax-exempt bond financing in support of qualifying projects including manufacturing, processing, alternative energy production, and some research & development facilities. This financing takes advantage of a special kind of federal income tax incentive that can allow WEDFA to pass on some of the benefits of state governmental financing to private enterprise.

Regional

Mid-Columbia Economic Development District (MCEDD)
541-296-2266

The Business Assistance Loan Program administered by MCEDD makes revolving loans to businesses when needed to allow job-creating projects to move forward when other financing options are not sufficient. Such funds may be used to acquire machinery and equipment, make leasehold improvements, and provide working capital. These loans are intended to supplement, not replace, traditional funding sources and should meet the following criteria:

Deliver one or more jobs per $20,000 loaned.
Be at least $20,000 and no more than $100,000.
Deliver quality employment (above average skill and wage jobs).
Deliver two or more dollars of private investment for each dollar loaned.
Deliver a significant economic impact (industrial development preferred).
Term not to exceed the useful life of the assets being financed.

Preference is given to technology-related and/or high value-add operations. Loan terms are generally longer, collateral requirements are more liberal (including subordinate lien positions), and interest rates are below market rates (commonly between one point below and three points above the prime rate).

Federal

U.S. Citizenship and Immigration Services
800-375-5283 (800-767-1833 TDD)

The United States Citizenship and Immigration Services administers the Immigrant Investor Program (known as "EB-5") that grants visas to foreign persons making substantial capital investments in companies creating jobs in the U.S. To be eligible, the foreign investment must:

Benefit a commercial enterprise established after November 29, 1990 or a previously established enterprise that is expanded through the investment so that a forty percent (40%) increase in its net worth or number employees results.
Create or preserve at least 10 full-time jobs (minimum 35 working hours per week) for qualifying U.S. workers within two years (or under certain circumstances, within a reasonable time after the two-year period) of the immigrant investor's admission to the United States as a Conditional Permanent Resident. Note: Jobs are considered preserved only if they are in an enterprise that has been in existence for at least two years and has incurred a net loss during the 12- or 24-month period prior to the priority date on the immigrant investor�s Form I-526 of at least twenty percent (20%) of its net worth prior to the loss.
Be equal to or greater than $500,000 (for Klickitat County and other areas outside metropolitan statistical areas), acquired through lawful means, and valued at fair-market value in U.S. dollars. The investment may be through cash, equipment, inventory, other tangible property, cash equivalents, and indebtedness secured by assets owned by the alien entrepreneur (provided that the alien entrepreneur is personally and primarily liable and that the assets of the new commercial enterprise upon which the petition is based are not used to secure any of the indebtedness). Note: Investment capital cannot be borrowed.

U.S. Department of Agriculture Rural Development–Yakima (USDA-RD)
509-454-5743

The U.S. Dept. of Agriculture Rural Development offers a number of programs that support rural communities and agricultural producers. These include the following:

Business and Industry Loan Guarantees: Funds may used for enlarging, repairing, modernizing, or developing a business; developing land, buildings, or facilities; purchasing equipment, leasehold improvements, machinery, supplies, or inventory; and refinancing debt (when it improves cash flow and creates jobs). Funds may NOT be used for lines of credit, housing, golf courses, gambling facilities, church, charitable, or fraternal organizations, projects over $1 million resulting in the relocation of 50 or more jobs, or agricultural production. Collateral must have documented value sufficient to protect the interest of the lender and the USDA. Hazard insurance is required on collateral. Guarantees capped at 80 percent for loans up to $5 million, 70 percent for loans between $5 and $10 million, and 60 percent for loans exceeding $10 million with a $25 million maximum. Loan terms are capped at 30 years for real estate, 15 years or its useful life for machinery and equipment, and 7 years for working capital. There is an initial guarantee fee (currently 3 percent of the guaranteed amount), an annual renewal fee (currently 0.5 percent of outstanding principal), and usual and customary fees from the lender. Key person life insurance may be required. Personal and corporate guarantees are normally required from all proprietors, partners (except limited partners) and major shareholders (all those with a 20 percent or greater interest).
Value-added Producer Grants: Assists agricultural producers enter into value-added activities related to the processing and marketing of new products. Priority may be given to beginning farmers or ranchers, socially-disadvantaged farmers or ranchers, small or medium-sized farms or ranches structured as family farms, or farmer or rancher cooperatives. Grants are awarded through a national competition. Planning grants are capped at $75,000 and working capital grants are capped at $250,000. A 50% match is required. Eligible applicants include independent producers, agricultural producer groups, farmer or rancher cooperatives, and majority-controlled producer-based business ventures. Funds may be used for planning (e.g. feasibility studies, business plan development for processing and marketing a value-added product) or working capital (e.g. processing costs, marketing and advertising expenses, and some inventory and salary expenses) expenses related to producing and marketing a value-added agricultural product.

Small Business Administration–Seattle (SBA)
206-553-7310

The Small Business Administration offers a number of programs designed to provide finanicial support to small and start-up business enterprises. Potential borrowers may use the SBA's Lender Match to find a participating lender. The four primary programs available are:

504 Loan Program: Provides small businesses with long-term, fixed-rate financing to acquire fixed assets for expansion or modernization. Loans are typically structured with the total project cost covered 40% by the SBA, up to 50% by a participating lender, and at least 10% by the borrower. Funds may be used for constructing new facilities, renovating or converting existing facilities, purchasing machinery and other fixed assets, and refinancing debt in connection with expansion via new or renovated facilities or equipment. To be eligible, a business must have a net worth $15 million or less, have an average net income of $5 million or less (after federal income taxes), be operated for profit, and fall within the size standards set by the SBA. The maximum loan amount is generally $5 million (with limited exceptions). The business must create or retain one job for every $65,000 (common) or $100,000 (small manufacturers) guaranteed by the SBA or, in some circumstances, where it improves, diversifies, or stabilizes the local economy, stimulates other business development, brings new income into the community, assists other manufacturing firms, expands small businesses owned and controlled by women, veterans, and/or minorities, or meets other specific community development or public policy goals set forth by the SBA. Project assets are used as collateral and owners must provide a personal guaranty equal to 20% or more of the loan. Loan maturities of 10 and 20 years are available. Lenders include Ameritrust CDC, Northwest Business Development Association, and Evergreen Business Capital as well as banks with a regional presence such as Columbia State Bank, Key Bank, Umpqua Bank, U.S. Bank, and Wells Fargo.
7(a) Loan Guarantee Program: Provides loans up to $5 million through commercial lenders by offering them a guarantee up to 85% for loans up to $150,000 and 75% for loans greater than $150,000. The interest rate is negotiated, but cannot exceed the maximum set by the SBA. The maximum loan term is ten years. Lenders are not required to take collateral for loans up to $25,000. For loans in excess of $350,000, the SBA requires lenders to collateralize loans to the maximum extent possible up to the loan amount. Lenders include many well-known financial institutions (check with your bank to determine if they participate in SBA lending programs) including those with a regional presence such as Columbia State Bank, First Interstate Bank, Key Bank, Umpqua Bank, U.S. Bank, and Wells Fargo.
Community Advantage Loan Program: Sometimes called a "Small 7(a)" loan, this program offers loans up to $250,000 to finance a startup, or expand an existing, business. The SBA guarantees 85 percent of loans up to $150,000 and 75 percent of loans over $150,000 (business needing less than $50,000 should consider a "microloan"). Loan term is 7 to 10 years for working capital, inventory, business acquisitions, tenant improvements, and start-up expenses. Lenders must take a first lien on assets financed with the loan proceeds and a lien on all of the applicant's fixed assets. Lenders include many well-known financial institutions (check with your bank to determine if they participate in SBA lending programs), Evergreen Business Capital, and banks with a regional presence such as Columbia State Bank, Key Bank, and Umpqua Bank.
Microloan Program: Provides technical assistance and loans up to $50,000 to small businesses with particular focus on those owned by women, veterans, and low-income or minority persons. Funds are provided through a microloan intermediary (a non-profit community-based organizations responsible for managing the loan and providing technical assistance). Microloans may be used for working capital, inventory, supplies, furniture, fixtures, machinery, and/or equipment. The maximum term is six years. Interest rates vary, but are generally between 8 and 13 percent. Intermediaries offering microloans in Klickitat County include the Center for Business Development (Yakima), Business Impact Northwest (Seattle), and Mercy Corps Northwest (Portland).
Small Business Investment Company Program: Promotes the investment of private equity capital and long-term loan funds needed to finance small business operations, growth, expansion, and modernization. The program licenses privately owned and professionally managed funds that provide financing using privately raised capital and SBA-guaranteed leverage. To find an SBIC, review this list of SBA-licensed private equity partners.

Private Investment Networks

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Alliance of Angels (AoA)

The AoA offers growth-oriented, early-stage companies in the Pacific Northwest exposure to individual investors and representatives of investement corporations. Acting as a "matchmaker" for young technology companies and interested investors, AoA provides Program Managers that work with entrepreneurs to provide in-depth coaching. Early-stage companies that pass a rigorous screening process may be selected to present their business plans at an AoA monthly membership meeting. AoA is part of the Technology Alliance and a member of the Angel Capital Association.

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Bellingham Angel Investors (BAI)

The BAI is a group of accredited investors dedicated to providing equity capital to early and mid-stage entrepreneurial companies in the Pacific Northwest, with emphasis on those companies located in the Whatcom, Skagit and Island Counties of Washington State. Members are independent business owners and senior corporate executives experienced in financing and developing emerging enterprises. They mentor and coach the entrepreneurs in whom they invest, sometimes serve on their boards, provide contacts, and assist with team building, strategic planning and fundraising. BAI is a member of the Angel Capital Association.

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Cowen Partners Venture Fund (CPVF)

Primarily focused on pre-seed, seed, and early-stage companies in the Pacific Northwest, CPVF focuses on niche markets, community businesses, and minority entrepreneurs with a patent protected product/technology in the food, consumer, automotive, cleantech, medtech, artificial intelligence, and software segments. CPVF does not invest in retail, restaurant, or brick-and-mortar businesses. Initial investments from $10,000 to $50,000.

Craft3
360-455-4879

Craft3, a nonprofit community development financial institution, provides loans up to $5 million to small, woman-owned, and minority-owned businesses in the underserved communities of the Pacific Northwest with a particular focus on rural Washington. In addition to financial support, they also provide expertise, networking, and other advocacy services. By 2014, Craft3 had invested over $284 million in supporting economic development. Offices are located in Portland and Seattle.

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E8 Angels
425-409-9531
E-mail Address

E8 is a Washington non-profit organization that invests in and fosters cleantech companies by connecting promising entrepreneurs with experienced cleantech investors. Comprised of private investors, E8 only funds entrepreneurs in clean technology with a high value placed on firms dedicated to a cleaner, healthier, more sustainable, and prosperous world. Members are successful executives and entrepreneurs who provide investment capital, contacts, and strategic advice to help young companies achieve market leadership. E8 provides investment capital, strategic advice, mentoring and coaching, contacts, and assistance with team building, strategic planning, and fundraising.

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First Row Partners (FRP)
Contact form

Started in Seattle, FRP provides catalyst funding for early-stage startups. They invest where technology is tamed for the benefit of everyday individuals as they connect, contribute, and consume.

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Founders' Co-op (FC)
E-mail Address

Founders' Co-op is a seed-stage venture fund created by founders, funded by founders, and designed to put founders first. Since 2008 they have invested in over 100 companies in the Pacific Northwest. The fund operates on these principles: tell the truth; be fast; give first; it�s your company; and be human.

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Grubstakes
E-mail Address

Grubstakes funds and mentors startups in the Pacific Northwest. Its mission is to foster an engaged, collaborative, and smart angel investor community, and to ensure founders are well financed and succeed through exit. Its focus is on companies led by extraordinary teams.

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Keiretsu Forum – Northwest
206-529-3687

The Keiretsu Forum is made up of private equity investors, venture capitalists, and corporate/institutional investors. Close relationships with venture capital (VC) firms, universities, and Investment Banking institutions facilitate access to the capital, talent, technology, and resources needed to build a successful venture. Members invest in opportunities that focus on emerging technologies, life science, healthcare, and bio-technology, but includes any segment with a high growth opportunity. Presenting entrepreneurs have exposure to 100 potential investors as well as resources, customers, board members, advisors, referrals, and feedback. Early-stage capital investment ranges from $250k to $2M.

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Madrona Venture Group (MVG)
206-674-3000
E-mail Address

The MVG specializes in investing in seed and early-stage companies that leverage technology to create or disrupt huge markets. Their philosophy is that it is never too early to make connections regardless of whether a fully realized business plan exists or just the technology and a vision.

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Oregon Venture Fund (OVF)
503-727-2197
E-mail Address

The OVF seeks to annually invest in 4-7 highly scalable companies at any stage and located in Oregon and Southwest Washington. To be considered for an investment by OVF, entrepreneurs must provide a business plan.

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Venture Northwest (VNW)
503-222-2270

Part of the Oregon Entrepreneurs Network (OEN), Venture Northwest (formerly Venture Oregon) is an annual conference that draws institutional investors and investment bankers from across the Western U.S. who are interested in emerging Northwest businesses and the region's growth segments. A great way for investors to connect with the area's hottest emerging Northwest businesses, companies that have presented at Venture Northwest have raised over $1.3 billion in venture capital since 1996 and over $68 million in angel investment.

Outlines Venture Group
E-mail Address

Started in 2013, the OVG invests in and mentors early stage technology companies in return for board seats and equity. Primary interest is in women-led start-up companies.

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Puget Sound Venture Club (PSVC)
Contact form

The PSVC was founded in 1985 with the mission of creating a small, focused community of accredited investors. Its goal is to provide companies with capital, insight, and experience in an effort to both help them find success and offer high returns to its members. The PSVC offers opportunities for education, provides monthly speakers in areas such as corporate formation, investment vehicles, and regulatory updates, and more. Over the last 35 years, it has invested more than $169 million in over 1,150 companies.

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SeaChange Fund (SCF)
E-mail Address

SCF invests in early-stage companies located in the pacific northwest. Operating with a full-time professional team, it provides funding up front in amounts typically between $500,000 and $900,000. They also partner with funded companies to provide board-level mentors, industry connections, strategy advisors, and access to talent.

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Seven Peaks Ventures (SPV)
E-mail Address
Contact form

Founded in 2013, Seven Peaks� mission is to help entrepreneurs throughout the Pacific Northwest build and scale their businesses by providing access to capital, expertise, and networks that can help them execute on their vision. Their interest is in mission-driven entrepreneurs with courage, resilience, genius, and an ability to attract great people.

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Spokane Angel Alliance (SAA)
509-953-2989
E-mail Address

Established in 2003, SAA is a nonprofit alliance of investors with a common interest in businesses that can emerge as industry leaders and located in Eastern Washington, Idaho, and Montana. Opportunities are targeted to privately held companies headquartered in the Inland Northwest. Companies with significant growth potential and a defensible competitive advantage are preferred. Any company meeting the investment criteria may submit their company information for consideration and the opportunity to present their investment opportunity to the members. Investments are typically structured as preferred stock, common stock, or convertible promissory notes.

W Fund
206-543-9522

The W Fund is n early-state venture fund managed by a private group of angel investors interested in promising start-ups spinning out of the University of Washington and other research institutions across the state. Its purpose is to help the most promising research and student-generated start-ups realize opportunities, gain traction more quickly, and reach venture-fundable milestones.