Small Business Capital Access Program

To be eligible for CAP, businesses must:

• Be a for-profit business, independently owned, and located within Seattle city limits.

• Have an active City of Seattle Business License.

• Be in operation for over 12 months.

• Have filed City Business and Occupation (B&O) taxes and paid taxes in full if owed or comply within two months of selection.

• Have no more than 50 full-time equivalent (FTE) employees.

• Have an annual gross revenue of no more than $2 million.

• Be in good standing with state and local agency requirements.

• Be current on loan payments at the time of the principal paydown award.

Businesses NOT eligible to apply for the CAP Award:

• Businesses located outside Seattle city limits or less than 50% of their operation in Seattle.

• “Adult entertainment” businesses regulated under Seattle Municipal Code 6.270. 

• Cannabis shops, growers and dispensaries are ineligible. 

• 501(c)(3), 501(c)(6) or 501(c)(19) nonprofit entities. 

Terms of CAP Award:

• Eligible small businesses can receive up to $30,000 or 20% of loan principal amount (whichever is less).

• Awardee must be in status (no delinquent loans) at the time of award.

• Award eligibility will be determined by the lender.

• See participating lenders here.

Small businesses interested in a Capital Access Program award will not complete a separate application form. Eligibility will be determined by participating lenders.

Eligible applicants will need to provide the following documentation to their respective lender:

• Unified Business Identifier (UBI) number (nine digits).

  • Businesses will receive a Unified Business Identifier number when they apply for their Washington state Business License. This can be done through the Department of Revenue online or by mail. Applicants can search for their Unified Business Identifier number online.

• City Business License number (six digits).

  • Anyone doing business in Seattle must have a Seattle Business License tax certificate, also known as a City Business License number, City Customer number or general business license. Business owners must renew this certificate each year by Dec. 31.

  • This City Business License number is separate from the Washington state business license. If businesses cannot find their number on the City Business License Find a Business search tool, they may only have a Washington state license.

  • Businesses can apply for a City Business License and renew online or by mail.

• Business and Occupation (B&O) taxes.

  • Every business must file and report to the city, even if there was no activity or do not owe any tax. The Seattle business tax is not the same as the Washington state business tax; businesses must file Seattle taxes separately from state taxes.

  • Businesses do not owe general Business and Occupation (B&O) tax if their annual taxable gross revenue is less than $100,000, but businesses still need to file.

  • Businesses can file and report online or by mail. For additional questions about these taxes, businesses can reach out to Seattle Finance at tax@seattle.gov.

What can I use a Small Business Flex Fund 2 loan or other paydown-eligible financial product for?

Small Business Flex Fund 2 loans and other financial products can be used for a full range of business operating needs such as payroll, rent, utilities, supplies, and other day-to-day expenses. However, please contact your respective lender for specific use of loan funds.

You can also review Small Business Flex Fund 2 frequently asked questions here.

How will CAP Loan Capital Paydown be awarded?

Eligible businesses will receive CAP awards in two installments: upon completing 12th and 24th monthly payments. 

Who are the participating Community Development Financial Institutions?

The Office of Economic Development is collaborating with various local Community Development Financial Institutions for the Capital Access Program. Please review the list of participating lenders in each Award Category.

What happens if I don’t qualify for a loan?

We encourage all applicants who meet the eligibility requirements listed above to apply. Compared to other banks and conventional lenders, community lenders have more flexibility when evaluating loan requests.

Still, there may be circumstances where a small business does not qualify for a loan or other financial product. If your small business does not qualify, you will be connected with one of CAP's technical assistance providers to see if you qualify for other financing options from the City.