Give Business Skills to Low-Income People in WA
Prior to lending out microloans to low-income families, Washington CASH provides supportive community business training and capital to help individuals with limited financial resources to gain self-sufficiency through small business ownership. Your support of Washington CASH can help improve the economic conditions of Seattle's lower income population.
Many individuals are trapped in low-wage jobs that fail to provide them with the resources that they need to support themselves and their families, let alone to improve their economic situation. Some could escape low income situations by starting their own business and working for themselves. Unfortunately, the effects of poverty (such as poor or no credit history, few assets, lack of collateral) often lead commercial banks to deny loan applications to people with low incomes or who are just starting their own businesses, and often puts business training out of financial reach. The need for microlending services is particularly significant in Washington, where approximately 26% of the population is considered "working poor" and struggling to live at 200% of the federal poverty threshold (U.S. Census Bureau). In addition, Washington is the fourth largest refugee resettlement state in the U.S., and is the state with the highest number of secondary migrants - refugees who come to Washington from other states.
About Washington Community Alliance for Self-Help (CASH)
Partner since August, 2009
Founded in 1995, Washington CASH is a microenterprise development organization and Certified CDFI dedicated to fostering economic self-sufficiency through self-employment training and lending to low-income individuals. Washington CASH serves residents in three Washington state counties by providing business development training, microloans, mentoring, marketing assistance, individual technical assistance and Individual Development Accounts (IDAs). Washington CASH (WC) serves individuals who are at or below 200 percent of the poverty threshold. Four locations provide a full suite of microenterprise development services in the Puget Sound region to 310 clients per year.
Key products and services include: 1) Business training course for small business development; 2) lending from $1,000-$5,000 provided in a peer-group format; 3) Individual Loans from $5,001-$50,000; 4) peer lending support and mentorship; 5) Individual Development Accounts; 6) group business advanced workshops; 7) one-on-one technical assistance; and 8) marketing assistance.