Peer Loan

Grow your business

Small business loans up to $3,500

The Peer Loan program draws recent graduates of Ventures’ Business Basics Course together to form Peer Loan Cohorts. Participants in the cohorts meet regularly and present their loan request to their peers. The cohort will deliberate and vote on whether or not to approve the loan. The Peer Loan does not require physical collateral or a good credit score to apply.

Peer Loans are a great opportunity for accessible capital as well as networking, relationship building, and collective support among entrepreneurs. Members of Peer Loan Cohorts attend regular meetings, support each other to set business goals, and providing feedback to other group members.

We provide Peer Loans for:

  • Start-up expenses
  • Marketing materials
  • Supply and inventory
  • Equipment
  • Other approved expenses

Loan Description

  • Amount: $500 – $3,500
  • 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 size of the loan
  • Eligible Uses: All loans must be used for business purposes only. You must work with a Ventures Business Coach to complete the loan process and determine the eligibility of your proposed use of funds
  • Limits: For the Peer Loan, startup small businesses can apply for up to $2,000, while small businesses that have been in business and making sales for at least a year can apply for up to $3,500

Participation Requirements

Loan Requirements

  • 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 Peer Loan

Make sure you meet the prerequisites, then:

  • Step 1: Attend the Peer Loan Orientation following your graduation for the Business Basics Course.
  • Step 2: Join the Peer Loan Cohort
  • Step 3: Work with your Business Coach to complete your feasibility plan
  • Step 4: Present your Loan Presentation to the cohort
  • Step 5: Attend Peer Loan meetings to support others in your cohort

Closing fee

  • $15*

*This is a one-time, non-refundable closing fee