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Small Business Loans

Small Business Revolving Loan Fund (RLF)

The City of Tacoma Revolving Loan Fund program started in 1979 to assist small and moderately sized businesses located or locating to Tacoma. The City of Tacoma’s Revolving Loan Fund can provide gap financing over $25,000 and up to $500,000 where private financing is unavailable. This program is designed as gap financing. The funds provided are available to fill a financing gap that exists between a project’s total cost and the sum of owner equity and a loan from a senior lender. The Small Business RLF funds typically do not exceed 33% of a project’s total cost. If a bank or other first lender has committed to providing the full financing needed to complete your project you are not eligible for funds through this program. To learn more about the Small Business RLF loan please fill out a pre-application form and you will be contacted by the Community and Economic Development Department to schedule an appointment.  The Small Business RLF application includes a checklist of all documents required. 


Download the Small Business RLF Application


A small business operating within the City of Tacoma limits with all licenses and permits required who can show that most of its operations take place in Tacoma. The applicant has to show that he or she is unbankable due to for example lack of collateral. An applicant also qualifies if there was an attempt to access funds from a bank and the request was partially funded or rejected. An email from a bank officer, a bank commitment letter, or a loan rejection letter can serve as proof of this requirement.  Start-ups and existing businesses are both eligible. 


Interest Rate

The lower of a fixed 4% or 75% WSJ prime rate.


Loan Term

Amortized up to 25 years based on asset life and up to seven years for working capital – all with a five-year call.



The process requires that the applicant fill out a Small Business RLF application and submit all required documents. Failure to provide any information requested may be grounds for denial.  Completed applications along with documents may be mailed to:


Small Business RLF 
Attn: Dierdre Patterson
747 Market Street, Room 900
Tacoma, WA 98402-3793

Once all information is received, the Community and Economic Development Department underwrites the loan application before submitting it to the Tacoma Community and Redevelopment Authority (TCRA) Board for approval. You will then be notified by TCRA whether your loan was approved or denied. 

Helpful Info
  • The City of Tacoma uses the (5 C’s of financing) to evaluate your loan application. 
  • The City of Tacoma can connect you with a free business mentor if you need assistance reviewing or understanding the components of a business plan. To view available business coaches, click here. You may contact our Community and Economic Development staff at (253) 591-2012 to help connect you with available resources. 
  • For additional financial lenders, please view the Growing a Business Brochure listing other lenders under the section “Business Loans & Capital.”

For more information about the City of Tacoma’s business loans, please email Dierdre Patterson at dpatterson3@cityoftacoma.org or call (253) 591-5621.