The Capital Accelerator Fund

Eligibility: CDFIs can access

The Capital Accelerator Fund is a risk pool to provide funding to WA State Community Development Financial Institutions (CDFIs) to provide financing and financial services to underserved communities that are often neglected by traditional banks. The funding is aimed at supporting underserved individuals access lending for their education, housing, or business. Eligible lenders must work with a technical assistance provider on an asset pathway to be approved. In order to participate in the program, individuals must be endorsed by financial or business coaching.

Leveraged minimum risk pools 

• $XXM for construction loans
• $XXM for home purchases
• $XXM for consumer lending
• $XXM for business loans

Lending from this pool will be done through an intermediary for reporting and can be used for property development and site control, home purchasing loans, new construction, home improvement loans, microbusiness financing, and vehicle purchasing and refinancing. The terms of the lending will provide low interest rates and access to capital with preferable terms for businesses and communities that might not otherwise be able to secure financing from traditional sources.

Consumers currently participating in the following CRP funded program have first priority to accessing lending:

• The Savings Accelerator Fund
• The ADU Home Construction Grant
• CDFI Homeownership Mortgage Capital
• Technical Assistance Program
• The Business Accelerator Program + Job Seeker Program

The Capital Accelerator Fund is a risk pool to provide funding to WA State Community Development Financial Institutions (CDFIs) to provide financing and financial services to underserved communities that are often neglected by traditional banks. The funding is aimed at supporting underserved individuals access lending for their education, housing, or business. Eligible lenders must work with a technical assistance provider on an asset pathway to be approved. In order to participate in the program, individuals must be endorsed by financial or business coaching.

Leveraged minimum risk pools 

• $XXM for construction loans
• $XXM for home purchases
• $XXM for consumer lending
• $XXM for business loans

Lending from this pool will be done through an intermediary for reporting and can be used for property development and site control, home purchasing loans, new construction, home improvement loans, microbusiness financing, and vehicle purchasing and refinancing. The terms of the lending will provide low interest rates and access to capital with preferable terms for businesses and communities that might not otherwise be able to secure financing from traditional sources.

Consumers currently participating in the following CRP funded program have first priority to accessing lending:

• The Savings Accelerator Fund
• The ADU Home Construction Grant
• CDFI Homeownership Mortgage Capital
• Technical Assistance Program
• The Business Accelerator Program + Job Seeker Program