W Fund Nabs $5M from State to Top Off $25M Investment Pool
Summary
The program, administered by the Department of Commerce, is one piece of a broader five-year, $19.7 million plan the state has devised to make it easier for small businesses to get access to credit.The state has found its way to participate by routing money it has obtained through the federal Small Business Jobs Act, passed in September 2010.“They’ve broadened what they’ll look at in terms of deal flow in return for us coming in as a partner,” Weed said in an interview Friday at his Seattle office.“This issue of access to credit and investment capital is a crying need I’ve been hearing about for two years now,” Weed says.“I don’t know how many jobs it will create, but the important thing is that small business will have more access to credit and capital at a critical time.”