Industrial Development Revenue Bonds
Tax-exempt bond financing for employment generating manufacturing facilities is available through the Economic Development Corporation of Pierce County. Eligible costs may include the acquisition of land, new machinery & equipment, construction or renovation of a building, architectural design, engineering work and financing arrangements. Borrower must be credit-worthy and able to get a Letter of Credit to back the bonds. Up to $10 million in bonds can be issued for projects with total capital investment of $2 million to $20 million.
Susan Suess, Economic Development Board | 253-383-4726
City of Tacoma Loan Programs
The City of Tacoma offers their own finance programs to assist business in accessing the capital for land/building, equipment, working capital, with loans ranging in size, rate and requirements. Click here to learn more, or contact:
Jacinda Howard, business loan specialist | 253-591-5221
Pierce County Loan Programs
Pierce County oversees several loan programs that can offer competitive financing for the purposes of business retention and expansion. They are primarily in the form of gap financing. To learn more about these programs, visit their website and click on the brochure for Finance Programs. Click here to learn more, or contact:
Sheree Clark | 253-798-6916
State Financing Programs
The federal Small Business Jobs Act of 2010 directed $1.5 billion to state programs that improve access to capital for small businesses so they can grow and create new jobs.Washington state will distribute $19.7 million through three new Small Business Credit Initiative programs. Working with private partners, the state expects to leverage these funds and by 2016 drive around $300 million in new capital to Washington small businesses. Click here for more information.