The Olympic Microloan Fund (OMF) is a micro-enterprise loan fund organized by nine Washington counties and managed by Cascadia Revolving Fund. The fund provides loans and technical assistance to small businesses that are unable to obtain financing through conventional sources.

To Qualify

• Businesses applying for a loan from OMF must be located in Clallam, Grays Harbor, Island, Jefferson, Mason, Pacific, San Juan, Thurston (outside Olympia city limits), or Wahkiakum County.
  
• OMF borrowers may have no more than 5 full-time employees or the equivalent, (e.g. 10 half-time employees).
  
• The income level of the business owner(s) or the business’s employees must fall within certain guidelines.
  
• OMF loans range from $1,000 to $25,000.
  
• The average interest rate is a fixed rate of 10%.
  
• Loan terms range from 12 to 60 months.
  
• Borrowers will be charged a 2% loan fee which can be financed.
  
• All applicants must demonstrate an investment of owner’s equity in their business.
  
• Collateral is required for all loans. The personal guarantee of the owner and his/her spouse is also required.