Individual Development Accounts and Microloans
Mercy Corps Northwest provides grants and loans to new and existing businesses who may not qualify for traditional bank financing. Mercy Corps Northwest believes in investing in motivated individuals and hard-working families who are ready to act on their potential. That with access to the right resources and training, people can create opportunity for themselves.
The Mercy Corps Northwest IDA Program is broken down into four steps:
How does the process work?
The Center for Inclusive Entrepreneurship (CIE) provides accessible and affordable “first step” entrepreneurship training, one-on-one consulting, and other support. CIE is critical to our joint mission of building resilient, sustainable, and equitably shared community wealth by providing the technical assistance necessary to help entrepreneurs prepare and qualify for financing from Mercy Corps Northwest.
The City of Seattle provides the primary funding for the Mercy Corps Northwest IDA Business Grant program and 0%-Interest Microloan program. Through the Office of Economic Development, the City has outreach teams on the ground in disadvantaged and underserved areas working with Mercy Corps Northwest to deliver the technical assistance and financial services entrepreneurs need to launch, maintain, and grow their businesses.
Whether you are a new entrepreneur, an experienced business owner, or managing a company, the Seattle Public Library has services that can help you succeed. Staff meet one-on-one with you to size up your industry, discover customer demographics, find information about markets, improve your business skills, and find referrals to other business assistance organizations.