FINANCING

Industrial Revenue Bonds

The Port of Skagit offers industrial revenue bonds, which provide tax exempt financing, to qualifying companies.

The Washington Economic Development Finance Authority (WEDFA) can issue taxable non-recourse economic development bonds, a form of financing similar to tax-exempt industrial revenue bonds.  WEDFA has the authority to issue non-recourse economic development bonds on both a taxable and tax-exempt basis in support of qualifying projects — manufacturing and processing facilities and projects categorized as "exempt facilities" under federal tax law.  These may include wastewater, solid waste disposal, mass commuting, and some types of recycling and cogeneration projects. WEDFA cannot assist retail projects. For more information, click here.

Revolving Loan Funds

The Skagit Council of Governments offers three revolving loan fund programs designed to support the financing needs of small businesses owners and entrepreneurs otherwise unable to obtain conventional bank financing.  For more information, click here.

Community Economic Revitalization Board (CERB) Program

This Washington State program provides low-cost financing for public facilities improvements required for private development. Low-interest loans and occasional grants are available to cities, counties, ports, and special utility districts to offset infrastructure costs and assist in the development and retention of jobs.  Eligible projects include access roads and sewer and water extensions as well as other public improvements required to make sites attractive for private sector development.  Infrastructure funded by CERB must serve either basic industries (manufacturing, processing, assembly, production, warehousing, and distribution) or external services (businesses that support the trading of goods and services outside state borders).  More information is available at: www.choosewashington.com.

Energy Efficiency Loans

The Washington State Housing Finance Commission offers Sustainable Energy Trust loans of up to $1 million for clean energy projects, as well as energy efficiency projects for multi-family housing and non-profit organizations, and on new construction of highly efficient single-family housing.  More information is available through the WSFHC.

Clean Energy Fund

Washington State’s Clean Energy Fund supports the development, demonstration and deployment of clean energy technologies that save energy, reduce energy costs, reduce harmful air emissions and increase energy independence.  Programs include financing opportunities for renewable energy manufacturing facilities, matching funds for renewable energy research and development, and grants supporting non-profit revolving loan fund programs.  More information is available through the Washington State Department of Commerce.

New Farmer Loans

The Washington State Housing Finance Commission, in partnership with Northwest Farm Credit Services, provides low-interest loans to help new farmers get started with land, equipment, buildings, and even animals.  More information is available through the WSFHC.