January 2024
Issue 75
2023 Year in Review
SBA 504 Effective Rates for January 2024
25-year – 6.37% / 6.40% Refi
20-year – 6.43% / 6.46% Refi
10-year – 6.54% / 6.58% Refi
NWBDA had an incredibly successful year, playing a crucial role in supporting small businesses’ endeavors to acquire properties, purchase buildings and equipment, and refinance fixed asset loans. Our unwavering goal is to contribute to the success of small businesses, foster overall job growth, and fortify community economic strength. At NWBDA, we envision and strive to fulfill our mission of providing every eligible small business in the Pacific Northwest with access to capital on reasonable terms.
This wouldn’t be possible without the invaluable partnership with our third-party lenders, including banks, credit unions, and other financial institutions. Their collaboration is instrumental, and we express our deepest gratitude for their ongoing support. A standout Lending Partner for us this year has been Heritage Bank, collaborating on 10 loans and making a significant impact on NWBDA’s mission. Their valuable input has played a pivotal role in our success this year.
The SBA remains dedicated to enhancing the 504 program and updating rules to address the challenges faced by small businesses.
We look forward to fostering continued growth and success in the coming year.
2023 Grant Recipients
- Project Feast
- Nuestras Raices
- Auto Repair Transformation
- The Economic Development Alliance of Skagit County
- Familias en Acción
- SCORE (Portland, Seattle, Spokane, and CDA)
$100,000 Disbursed!
Top Third Party Lender For 2023:
10 SBA 504 Debentures Totaling $10,893,000 and Total Project Cost of $27,914,468
In 2023:
59
Loans Approved
68
Loans Funded
787
Jobs Created/Retained
Mark Mattke
Thrilled to announce the return of Mark Mattke to our board!
Mark, a seasoned professional at the Spokane Area Workforce Development Council, is bringing his wealth of expertise in economic development back to our team. We are so grateful to have him rejoin us!
Pam LaMont - 2001-2023
Wishing a joyous retirement to our dedicated team member, Pam LaMont! Pam has been an invaluable part of our workforce, and her absence will be deeply felt. We extend our heartfelt best wishes for success in all her future endeavors.
James Doehle
Introducing James Doehle, the latest addition to NWBDA’s team as a Business Development Officer! James will be dedicated to serving the Central/Eastern Washington and North Idaho regions.
Feel free to connect and welcome him at jdoehle@nwbusiness.org or (509) 394-4580.
We’re also thrilled to welcome several outstanding new additions to our team this year: Allison Harvey, Savannah Wilkinson, Lenora Johnson, Cindy Mair, Erica Pitner, David Folsom, and Jazmin Rubalcava!
Western Washington
Elizabeth Rusnak
erusnak@nwbusiness.org
(206) 930-9173
Southwestern Washington/
North Oregon
Jim Bright
jbright@nwbusiness.org
(360) 521-5704
Oregon
Evan Heriot
eheriot@nwbusiness.org
(541) 228-5015
Central Washington
Lisa Vincent
lvincent@nwbusiness.org
(509) 469-5040
Eastern Washington/North Idaho
James Doehle
jdoehle@nwbusiness.org
(509) 394-4580
Western Washington
Mark Beppler
mbeppler@nwbusiness.org
(425) 505-3263
December’s Loan Fundings
NWBDA funded 3 new
projects for a total amount
of $7,796,000
December’s Loan Approvals
NWBDA approved 2 new
projects for a total amount
of $12,170,440
In the month of December,
NWBDA helped create 22
new jobs in its local communities
info@nwbusiness.org
www.nwbusiness.org
(509) 458-8555 (800)
540-1748 (Toll Free)