New program provides small businesses with easier access to credit

Apr 7, 2022
Written by WR Communications

Washington State Rep. Jacquelin Maycumber, R-Republic, says rural small businesses will get a much-needed economic boost now that Gov. Jay Inslee has signed legislation she proposed into law.

House Bill 1015 created the Equitable Access to Credit Program within the Department of Commerce for the purpose of awarding grants to qualified lending institutions. Maycumber said the program will provide small businesses with easier access to credit.

“Entrepreneurs and small businesses are a key to bringing economic stability to rural and underserved communities,” she said.

HB 1015 also creates a Business and Occupation (B&O) tax credit for contributions made to the program.

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