With appreciation to the Washington State Department of Commerce, the Washington State Microenterprise Association (WSMA) has awarded $1.6 million relief/program funds to 43 existing and emerging Microenterprise Development Organizations (MDOs) in WA this Spring of 2021. MDOs are non-profit organizations that offer essential business training, technical assistance, microloans, and connections to economic development partners in their region. Typically, MDO’s serve businesses with five or fewer employees and limited resourced entrepreneurs, both with capital needs under $50,000.
Notably, 52% of the 43 non-profit organizations that WSMA funded were BIPOC (Black, Indigenous and People of Color) led organizations. In addition, 30% of the grants went to nonprofits serving businesses in Washington’s rural communities. WSMA is committed to ensuring that equal opportunity is provided to businesses most affected by the pandemic, especially BIPOC entrepreneurs, veterans, women, people with disabilities, and many others throughout the state.
Despite the COVID pandemic and the uneven economic recovery, these nonprofits worked overtime, serving more businesses, with more services than they had ever provided before, under the best of conditions. They stretched their services to the limit, while dealing with the loss of staff, donations, rental income, sponsorships, grants and other sources of revenue. These new and existing MDOs consistently provided quality business services to local business owners suffering from the pressure of the pandemic and government closures.
Every day, the Washington State Microenterprise Association (WSMA) helps MDOs throughout Washington with networking, capacity building support, resource coordination and grants. WSMA enables MDOs to help business owners to strengthen their business skills, access financing, innovate, create jobs and build wealth, helping grow local economies in every region of the state.
For more information contact Lisa Smith at email@example.com.