Muslim Community Finance Coalition
The Seattle Public Library is one of a group of organizations working to support Muslim business owners. Community lenders and business assistance organizations have been meeting with members of our local Muslim communities to talk about improving access to riba-free (interest free) financing options that meet their needs.
About the Muslim Community Finance Coalition
Access to capital is one of the most important factors in a small business’ growth. For devout Islamic businesses, access to western forms of traditional interest-bearing loan products is not an option. This leaves these businesses at risk for failing, not starting up in the first place, or capping their growth potential.
To meet the growing need for Islamic Financing to Muslim-owned businesses in Seattle, a coalition of local Community Development Financial Institutions (CDFI’s) has come together to improve access to financing that is Sharia-compliant. These efforts are being led by Craft3, Business Impact NW, The Seattle Public Library, Verity Credit Union, Rainier Valley Community Development Fund, and many dedicated community members.
The group works alongside community members and religious leaders to better understand needs and bridge barriers to riba-free (interest free) financing. Look for upcoming programs on our calendar or contact us for ways you might get involved.
If you are a Muslim business owner, the Muslim Community Finance Coalition (MCFC) wants to hear from you so they can develop better ways to serve you. Below is a link to a three minute survey that helps us understand your needs. We appreciate your time in filling this out. Responses will be shared with the MCFC planning team to inform the development of sharia-compliant finance products.