Seattle's Office of Economic Development (OED) Announces Three New Lending Programs for Small- to Medium-Sized Businesses. 
 

The Office of Economic Development can help local businesses get loans for business development or expansion through three different programs.

• For small businesses and microenterprises, the City announced that $1.4 million in federal stimulus funds will be disbursed through three local lending organizations Community Capital Development, ShoreBank Enterprise Cascadia, and the Rainier Valley Community Development Fund.
   
• For small to medium-sized businesses that need capital to grow, the City announced a new $8 million Grow Seattle Fund, which is a partnership between the City, the National Development Council's Grow America Fund and the Seattle Foundation. The Grow Seattle Fund will help loosen up credit for small- and medium-sized businesses at low interest rates and will be targeted to finance business development and expansion.

• For large businesses, Nickels announced that federal stimulus dollars will allow the City to issue $19 million in tax exempt bonds for private business projects, geared toward businesses that are looking to make substantial infrastructure improvements.

 To see the press release announcing the programs, click here.

For a flyer providing more information about the Grow Seattle Fund, click here.

For more details, contact Ken Takahashi at the City of Seattle's Office of Economic Development by phone at (206) 684-8378 or e-mail at ken.takahashi@seattle.gov.

Ballard Chamber Board
Statement Regarding Appeal

After recent review, consulation, and discussion, the Ballard Chamber of Commerce Board of Directors has voted to join the Ballard industrial entities in their suit to overturn the recent decision made by the City's Hearing Examiner in the matter of the Burke-Gilman Trail.

The Ballard Chamber, as a participant in neighborhood planning since the late 1990s, has been supportive of a bicycle trail. We continue this support. 

After reviewing the appeal proceedings, it is our belief that the studies completed and the information provided by the Seattle Department of Transportation (SDOT) do not fully and accurately represent the conditions in the area of study. We do not believe the City has done its due diligence.

The Ballard Chamber of Commerce Board is of the opinion that the City needs to conduct a SEPA review. The same requirements made of any other business before beginning a major construction project should be applied equally to SDOT.

As a business advocacy group, it is our duty to ascertain the potential economic impacts on our vital Ballard businesses. The fishing industry alone, of which this community plays an important role, brings $2 billion into the area annually.

While the issues and concerns of the various entities filing the suit are both similar and unique, the Chamber’s goal continues to be the completion of the SEPA review and the studies it requires. With this, all concerned parties will have the information needed to create a trail that will serve both the Ballard business community and cycling enthusiasts.