The Opportunities Industrialization Center of Washington has two new programs that will provide financial assistance directly to home buyers and business owners.
A Down Payment Assistance Program, or DPA, will offer first-time home buyers up to $20,000 if they complete housing counseling sessions.
Loans and microloans will be available to local business owners through a partnership with Vizions Economic Development Center.
Both programs require applicants to take classes or workshops to receive the funding.
Down payment assistance
Community members can get $20,000, or 20% of the home’s price, whichever is lower, in assistance from OIC’s DPA program if they are first-time home buyers and meet local income requirements.
According to an OIC press release, the program targets residents in certain underserved areas. In addition to applying for the program and proving they meet requirements, they must complete two housing counseling sessions.
Those interested in the program can apply by contracting Antonia Mende at 509-731-5332 or [email protected].
Business loans
OIC is partnering with Vizions Economic Development Center, a Central Washington nonprofit, to offer loans of up to $50,000 for new entrepreneurs and $250,000 for qualifying businesses, the news release said.
The loans can be used for business assets, equipment, inventory, purchasing commercial property or other capital expenses.
Applicants need to complete a one-hour technical assistance session and a business plan and provide proper documentation.
People can apply or learn more by contacting Vizions Economic Development Center at 509-453-5133 or [email protected].
