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New initiative to support small business based on community support via squares


The Washington State Department of Commerce and Community Sourced Capital, a Seattle-based company that helps connect small businesses with capital, have launched Fund Local, a campaign aimed at bringing zero-interest crowd-sourced loans to small businesses in all of Washington’s 39 counties.

Fund Local provides an opportunity for established Washington businesses to borrow up to $50,000 to expand and grow with a loan raised through their community. Members of the community who want to support their local businesses lend in $50 increments called “Squares.” The participating businesses pitch their campaign to their community over a 30-day period and once funded, pay the loan back t...

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