Customized Training Program (CTP): interest-free training loan with a B&O tax credit
In-kind: custom training up front, paid first by SBCTC. You repay the cost interest-free, and a state B&O tax credit returns 50% of each repayment.
You repay 100% of the training cost: 25% when training ends, the rest over 18 months. Credit equals 50% of each payment. Per-trainee limit is $3,000 for businesses with 50 or more positions in Washington and $6,000 for fewer than 50.
The college or licensed private career school receives the training funds from SBCTC. You receive the training, repay SBCTC, and take the tax credit.
- Private business located in, or newly relocating to, Washington
- A Washington B&O taxpayer
- An agreement with a public community or technical college, or a licensed Washington private vocational school
- Short-term training, less than 12 months
- Businesses with fewer than 50 employees get funding priority