What is SNEDA?

Spokane Neighborhood Economic Development Alliance (SNEDA) is a neighborhood-based, nonprofit organization that aims to help businesses and nonprofits improve their profitability or sustainability, and create jobs and affordable housing. We do this by connecting businesses and nonprofits to existing resources and providing financing to entrepreneurs and nonprofits who have been unable to access it through traditional means. Our ultimate goal is to create new and higher paying jobs that will help revitalize low-income neighborhoods. As we provide in-depth business counseling and access to funding, we will create, retain and improve jobs and affordable housing for neighborhood residents, including low-income and Welfare-to-Work families.

SNEDA has been designated by the U.S. Treasury as a Community Development Entity and a Community Development Financial Institution. We are the only CDE in the Spokane area and one of only 15 CDFIs in the state.

Please visit guidestar.com for more information about SNEDA.

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How did SNEDA get started?

In the late 1990s, Spokane's four social service community centers in the SNEDA area of service (East Central, West Central, Northeast and Peaceful Valley) recognized that no economic development group focused on the low-income neighborhoods they serve. The centers formed SNEDA in 1999 to concentrate on economic development activities that would complement their social services. SNEDA is the only organization in Spokane that goes into the neighborhoods to counsel business owners. SNEDA serves an area with more than 84,000 residents and a poverty rate of 26 percent.

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What is SNEDA's revolving loan fund?

SNEDA provides loans to healthy businesses and healthy nonprofits that have been unable to qualify for conventional bank financing. By developing co-lending relationships with local and regional banks, we help nonprofits and companies with solid business plans and reasonable financial strength to realize their potential and get the funding they need. The goal is to pass these establishments to conventional financial institutions for long-term banking needs.

SNEDA has developed some new sources of financing, including a revolving loan fund that has almost $220,000 available for local business lending and almost $250,000 for local nonprofit lending. We are also working with several regional and national organizations that could augment our loan fund or loan directly to businesses here. Click here for more information on our loan fund.

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How does SNEDA receive its funding?

SNEDA's funds are a collaboration of support from private enterprises, individuals, government, and foundations. Here is a list of those who have supported SNEDA over the years.

Avista Corp.
Bank of America
Banner Bank
City of Spokane
Sali Combelic
Corporation for National and Community Service
Cowles Publishing Company Development Company
Rob Daugherty
Department of Health and Human Services - Administration for Children and Families
Loren Dixon
Mary Ann Evans
Al French
Foundation Northwest
Foundation Northwest Buder Memorial Fund No. 2
Foundation Northwest The Larson Family Fund 
Jean Farmer
Kim Pearman-Gillman
Diane Jackson
Eric Loewe
Picsha Foundation
Tom Power
Kerri Rodkey
Sahlin Foundation
Sterling Bank
Treasury - Community Development Financial Institution
US Bank
Chris Venne
Wells Fargo Bank

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How can I access a copy of SNEDA's Income Tax Statement?

For a copy of SNEDA's latest Income Tax Statement (IRS 990), please go to www.guidestar.com.

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What neighborhoods does SNEDA target?

For a map and description of our target boundaries, please click here.

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What other loan funds are there in Spokane?

Other local non-traditional lenders include AHANA, SNAP, City of Spokane Brownfields Redevelopment, SIRTI, Business Development Corporation of Eastern Washington, and NWBDA. Also, SBDC's SBA-backed loans.

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