Business Impact NW is a nonprofit Community Development Financial Institution (CDFI) dedicated to serving underbanked entrepreneurs. They provide coaching, classes, and access to capital to community small businesses, with an emphasis on working with traditionally underserved populations – entrepreneurial low/moderate income earners, women, BIPOC, veterans, immigrants or members of the LGBTQ+ community.
Business Accelerator Plus offers the following services for regional business entrepreneurs:
Accelerator: Grow & Thrive is a structured mentor program with expert guidance and advice, perfect for any business owner who wants to take their business to the next level. Participants will develop a 3-5 year strategic plan with defined objectives working with their current financial statements, operating manuals, and marketing materials. Business Impact NW will deliver the 10-week accelerator curriculum. The Seattle Metro Chamber will utilize its connections across the region with other economic development institutions to help recruit underserved businesses into the accelerator.
Near-Guaranteed Capital: Business Impact NW will all but guarantee access to capital for businesses that graduate from the accelerator and obtain a procurement contract from private corporations, municipalities, or the state.
Corporate Connections: The Seattle Metro Chamber will bring corporations and public entities (e.g., Puget Sound Energy, Starbucks, Alaska Airlines) in at the outset to document their specific procurement needs. This will allow Business Impact NW to tailor the accelerator and ensure that graduates have all necessary capabilities and certifications, with assistance from entities such as PTAC and the Mountain Minority Supplier Diversity Council. Graduates will not only be more competitive as a result of the accelerator – the corporations and public entities will agree up-front to grant additional points on contracting applications to graduates. Business Impact NW will provide ongoing wraparound support for the businesses throughout their contract.