About this programme
Craft3 is a nonprofit, mission-driven lender that describes itself as serving entrepreneurs with good ideas and strong businesses who don't qualify for traditional bank financing. Its general business loans cover start-up capital, equipment purchases, and business acquisitions across Oregon and Washington.
Craft3 runs on what it calls a 'pay it forward' lending model: loan repayments are recycled into new loans, which is how the organization says it has made more than 1,200 loans to entrepreneurs since 1994. Beyond straight lending, Craft3 positions itself as more than a lender, offering resources and advice alongside capital.
Craft3 also runs several more specialized lines: bridge loans (mostly for nonprofit capital campaigns and grant funding gaps), owner-occupied commercial real estate and construction loans, Shari'a-compliant Islamic financing, tribal community lending in Indian Country, and septic-system repair loans for homeowners in Oregon and Washington.
How it works
Loans up to $250,000 go through a fast-track process, with fixed rates from 8.00% to 11.00% and funding in 45 days or less.
Loans over $250,000 (up to $4,000,000 or more) carry fixed rates from 7.50% to 11.00% and take longer to close, typically after a standard 1 to 2 week review period.
Loan terms typically run 3 to 7 years, repaid monthly, and borrowers can opt for an interest-only period for the first 3 months.
Fees include a 2% origination fee (1% for nonprofits), closing costs of $650 plus third-party fees, and a $100 recording fee on larger loans.
Who can apply
Craft3 works with established businesses, growing entrepreneurs, and nonprofits based in Oregon and Washington, particularly those overlooked by traditional finance.
Craft3 does not typically fund food/beverage startups, debt refinancing, requests heavy on soft costs, or businesses with active collections.
How to apply
- Use the 'Get Started' option on the Craft3 site or contact Craft3 directly to begin.
- You don't need fully committed funding in place before you apply.
Frequently asked
How much can I borrow from Craft3?
General business loans up to $250,000 go through a fast-track process; loans over $250,000 can go up to $4,000,000 or more.
What interest rate should I expect?
Fixed rates run 8.00% to 11.00% on loans up to $250,000, and 7.50% to 11.00% on loans above $250,000.
How fast can I get funded?
Loans up to $250,000 can be funded in 45 days or less; larger loans take longer.
What won't Craft3 fund?
Craft3 typically does not fund food/beverage startups, debt refinancing, requests heavy on soft costs, or businesses with active collections.
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