WASHINGTON STATE – Lenders known as Community Development Financial Institutions (CDFIs) are receiving a boost from the Washington State Department of Commerce. These institutions provide loans, investments and assistance to borrowers who might not qualify for standard bank loans.
Eleven CDFIs across Washington are splitting $5.6 million through the Commerce’s Equitable Access to Credit Program. This initiative is in its second year.
In its first year, the program aided eight businesses, turning awards into 36 investments across 16 counties in Washington.
