Small businesses are essential to our economy and at the heart of our communities. They play a vital role in driving economic growth, creating jobs, and fostering innovation. As economic challenges continue to burden these entrepreneurs, credit unions work to ensure that small businesses have sufficient access to capital to not only stimulate economic prosperity but also enhance the quality of life for everyone they touch.
The GoWest Foundation has become increasingly engaged in catalyzing our credit union network around the issue of supporting small businesses. The Foundation’s work incorporates different forms of grant funding to support the design of attainable small business products and services which can include rate buy-downs, offsetting of origination fees, or matched saving incentives. The GoWest Foundation works with credit unions and community partners throughout our region to provide solutions to pressing issues impacting the financial health of the people and communities they serve, and aims to bring innovative solutions to issues like access to capital for small businesses.
Implementation and planning grant applications are currently being accepted. If your credit union is interested in a small business support grant, please apply or submit your interest below.
Credit Building Pilot Program
Thirteen credit unions collaborated on a Credit Building Pilot Program to support over 600 small businesses across Washington State with collateralized 4% interest business loans using a streamlined application process. This pilot resulted in a Small Business Resiliency Loan product co-created by credit unions, 29 non-profit partners, and the state of Washington.
Learn more about this impactful program in our Credit Building Pilot Program 2025 Report.
Small Business Support Grants for Credit Unions
GoWest Credit Union Association member credit unions that are interested in addressing the needs of the small businesses in your membership are welcome to apply for a planning grant of up to $20,000 or an implementation grant of up to $100,000 to support your efforts.
Interested in Supporting Small Businesses?
If you are a GoWest member credit union interested in learning more about the Small Business Initiative, or if you have a project in mind and would like to know if it qualifies for grant support, please submit your questions here.