Business Builder Loan
Grow your business
Small business loans up to $35,000+
A Business Builder Loan gives you capital to grow your small business. During the Business Builder Loan process, you work closely with the Ventures financial team on a loan proposal. We help you review your business plan, dig into your financials, and test the ability of your small business to repay the loan. The goal of the Business Builder Loan process is to strengthen your small business’ foundation and get you ready for the next level.
We provide Business Builder Loans for:
- Start-up expenses
- Marketing materials
- Supply and inventory
- Other approved expenses
- Amount: up to $35,000.
- Interest Rate: Interest rates on all of our loans start at 7.25% for a first-time loan. If a loan is paid in full and on time, interest rates for subsequent loans decrease by .25%.
- Terms: Terms depend on the use of the loan funds. If loan funds are used for something short term such as inventory, loan terms will be shorter. If loan funds are being used for something longer term such as equipment, the loan terms will be longer. Our loan terms can vary between 6 months to 6 years.
- Eligible Uses: some startup expenses, equipment, inventory, and marketing materials. All loans must be used for business purposes only. You must work with a Ventures Financial Advisor to complete the loan process and determine the eligibility of your proposed use of funds.
- Limits: Loan amounts range from a few thousand to $35,000. For a start-up small business with less than two years of sales history, a business can apply for up to $10,000. Loans applications over $10,000 need to have at least two years of sales history. Loans above $35,000 may be considered on a case by case basis.
- Graduated from the Business Basics Course
- Met with a Ventures Business Coach and enrolled in Specialized Services
- At least 18 years of age
- Reside in Washington State
- Possess all required city and state business licenses
- Do not owe any back child support
- Not delinquent on any federal loans or taxes (without a repayment plan in place)
- Do not presently have an active bankruptcy
- Have a business checking account
Apply for a Business Builder Loan
Make sure you meet the prerequisites, then:
- Contact your Business Coach
- Meet with your coach to review and turn-in your loan application and packet
- Present your business plan and request for funding to the Ventures Loan Committee
$25* for loans under $5,000, $50* for loans over $50,000.
*This is a one-time nonrefundable application fee. There may be additional loan closing costs, depending on the type of collateral used.