Request for Qualifications | Blended Capital Enhancement Grants | Community Reinvestment Project

The Washington State Department of Commerce has a new way to help people and businesses through the Community Reinvestment Project (CRP). It’s called the Blended Capital Enhancement grant, and it aims to support by-and-for lending agencies, businesses, and organizations reduce wealth disparities within Black, Latine, and tribal communities through asset building.

This program will help fund programs that:

Make it easier for people to buy a home.
Provide grants and loans for small businesses and entrepreneurs.
Money management training
Fund training and support for small businesses.
Assist with buying commercial property, business assets, and vehicles.
Help people reduce debt and save more using matching funds.

The goal of this grant is to make it easier for Black, Latine, and tribal communities to get financial support from local organizations and businesses in their community.

Who is eligible to apply?

Commerce is looking for applications from lending agencies, businesses, organizations, and tribal governments who are interested in providing financial support, grants, and loans to Black, Latine, and tribal communities across Washington state. Eligible applicants must be led by-and-for Black, Latine, and tribal communities, or partner with an organization that is by-and-for.

Please note that Commerce is not a lending agency. Only organizations, businesses, lending agencies, and tribal governments who provide financial support, grants, and loans are eligible to apply for the Blended Capital Enhancement Grant.

If you are individual or small business looking for funding for your own project, please sign-up for our mailing list to be notified when providers are offering financial services you are eligible for.

Minimum Qualifications

You must be one of these types of organizations:
- Federally recognized tribal government, tribal-led 501(c3), or tribal-led community based organizations; OR
- Organizations who are led by Black, Latine, and tribal communities in WA; OR
- Organizations who partner with Black, Latine, and/or tribal community-led organizations AND can provide tangible evidence of their relationship to those communities.
You must be licensed to do business in the State of Washington (except for Tribes)
- Licensed to do business in the State of Washington, OR
- Submit a statement of commitment that it will become licensed in Washington within thirty (30) calendar days of being selected as the Apparent Successful Contractor

Please review the Request for Qualifications. Applications are due no later than 3:00 p.m., Pacific Time, July 1, 2024.

Pre-Application Q&A Conference on Zoom

Commerce is hosting a pre-application Q&A on June 12, 2024 from 3 to 4pm. Join us on Zoom and bring your questions. Attendance is optional, but registration is required to attend the meeting.

Questions? Please email us!