The Washington State Department of Commerce awarded $4.36 million to 11 lending organizations through its Equitable Access to Credit program, the state said. The grants support community development financial institutions and other qualified lenders that serve historically underserved communities, helping borrowers who face barriers to traditional financing.
The 2026 grant recipients include Business Impact NW ($441,317), Chehalis Tribal Loan Fund ($633,686), Community Impact Loan Fund ($339,474), Craft3 ($640,792), Enterprise Community Loan Fund ($492,917), IRC's Center for Economic Opportunity ($158,421), MoFi ($678,949), Northwest Access Fund ($339,474), Pacific Northwest Tribal Lending ($384,738), SNAP Financial Access ($164,758), and Taala Fund ($81,474).
The program, established by the Washington State Legislature in 2022 through House Bill 1015, operates through a tax credit mechanism. Businesses with state business and occupation tax liabilities can contribute to the program and receive a dollar-for-dollar tax credit, up to $1 million per company annually. The program has an overall annual cap of $8 million.
At least 65 percent of annual grant funding must support Native community development financial institutions or grantees serving or investing in rural counties, the state said.
In 2024, the program's inaugural year, it awarded $1 million to eight institutions, supporting 36 investments across 16 Washington counties. In 2025, 11 organizations received approximately $5.6 million.
The deadline for 2026 contributions is December 31. Tax credits received in exchange for contributions can be claimed in the current year or carried over for up to two years.