HBCDE

In 2021, we created the Heritage Bank Community Development Entity (HBCDE) which will encourage investments in low-income communities through a subsidized loan fund offering payment amounts that average 50% of conventional loan alternatives.

The program was funded with million dollars from Heritage Bank and encourages investment in small businesses and commercial real estate located in often underserved communities. As one of only a handful of community development entities in Washington and Oregon that's able to facilitate these loans, we can offer better rates and terms with more flexibility than the market.

Approximately 60% of our loans serve small- to medium-sized businesses, that range from manufacturers to distributors to professional services. We understand the decision-making process that businesses go through when deciding how to grow and where to locate. When considering moving to a low-income community, many businesses cite unproven demand and uncertainty around finding workers as key impediments. Businesses that qualify for a loan through the program must offer accessible jobs to ensure the local community members are benefiting from the project.

More details as well as information about the Advisory Board are available on our website here: https://www.heritagebanknw.com/home/about/hbcde