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SNEDA is seeking to provide access to finance to companies with the capacity to grow and employ local people. SNEDA’s loans have ranged in size from $3,000 to $505,000.
SNEDA works with businesses that are not yet ready for conventional bank financing or, due to a change in the economy, may no longer have access to conventional bank financing. We help companies with solid business plans and reasonable financial strength to realize their potential and get the funding they need from SNEDA’s own revolving loan fund, banks and/or other lenders. more
According to US Census Bureau and US Department of Commerce there are 428,667 microenterprises in Washington accounting for 17% of all employment in the state.
Microenterprise Development Organizations (MDO’s)
There are approximately 20 microenterprise development organizations in Washington State providing business training, technical assistance and access to capital to disadvantaged populations.
Impacts
A four year study conducted by a Washington State MDO and published by the US Department of Health and Human Services demonstrated the impact microenterprise program can have on disadvantaged populations. Of 240 individuals served, 86 new businesses were formed, 105 jobs were created by the new businesses and 120 individuals became self-sufficient. The cost per job well below $8,000 and public savings in excess of $2.2 Million (based on family of 4 receiving 19,000 annually in public assistance). more
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