The path to starting or growing a small business often hinges on understanding funding. Many entrepreneurs feel overwhelmed when navigating loans and investment options, but a new workshop could provide essential guidance.

What the Workshop Offers

On May 5 and 6, the Economic Development Council (EDC) will host a free workshop called “Capital Readiness” in collaboration with Business Impact NW. These two sessions aim to help small business owners and startup entrepreneurs become more familiar with loans and how to prepare for them. The first session will be held at Friday Harbor House on May 5 from 5:30 to 7:30 p.m., while the second will take place at the Lopez Island Library on May 6 from 10 a.m. to noon. For those who cannot attend in person, virtual registration options are available.

This workshop will cover essential topics regarding funding. Attendees will learn how to identify their capital needs, understand the types of funding available for different business stages, and discover what lenders typically require. By providing this knowledge, the EDC aims to equip business owners with tools necessary to secure funding effectively.

Expert Guidance

Gwen Kohl, a business advisor from Business Impact NW, will lead the sessions. Business Impact NW is a nonprofit organization focused on helping small businesses across Alaska, Idaho, Oregon, and Washington. They offer coaching, classes, and loans that are designed to assist entrepreneurs at every step. Since 1997, they have supported both new and established business owners alike.

Kohl specializes in coaching small business owners on preparing for loans, understanding cash flow, and making financial projections. Her goal is to help clients comprehend their financial situations, which is critical for launching or scaling a business sustainably.

Support and Accessibility

The EDC encourages participation as the workshops are completely free, though pre-registration is required through their website. This initiative has significant backing, with a special thanks to the Washington State Microenterprise Association for providing a statewide grant that makes these workshops possible.

Moreover, local government and community foundations have also supported the EDC’s mission. Key partners include San Juan County, the Town of Friday Harbor, the Washington State Department of Commerce, as well as several community foundations dedicated to assisting local businesses. This broad support underscores the community’s commitment to fostering a thriving business environment.

What this means for you

If you’re a small business owner or thinking about starting one, attending this workshop could be a game-changer in understanding how to access necessary funds. Learning about loans can help you avoid pitfalls when seeking financing. If you ever need to review loan documents or funding agreements, legal-document-to-plain-english-translator/”>AI legalese decoder can help translate them into plain English in seconds.

Source: https://www.islandsweekly.com/2026/04/21/edc-and-business-impact-nw-to-host-two-free-workshops-on-capital-readiness-for-businesses/