About this programme
Craft3 is a nonprofit community development financial institution (CDFI) lending to small businesses and nonprofits across Oregon and Washington. Over 30 years it has made $714 million in loans to more than 2,100 businesses in the Pacific Northwest.
The general business loan product covers financing for equipment and inventory purchases, business launch or expansion, hiring, building purchases and improvements, and working capital. Craft3 also runs separate loan lines for bridge financing (capital campaigns and grant gaps), owner-occupied commercial real estate, construction, Shari'a-compliant Islamic financing, and lending in Indian Country, where it has invested more than $50 million in tribal communities over 20-plus years.
As a nonprofit lender, Craft3 says it carries a higher tolerance for risk and uncertainty than a traditional bank, and can approve loans that banks decline, particularly for entrepreneurs from underserved communities.
How it works
Loans up to $250,000 go through a fast-track process with fixed rates from 8.00% to 11.00%. Loans above $250,000, up to $4,000,000 or more, carry fixed rates from 7.50% to 11.00% with more flexible terms.
Typical terms run 3 to 7 years, with longer amortization schedules possible. Borrowers repay monthly principal and interest, or can start with interest-only payments for the first 3 months. Loans up to $250,000 carry no prepayment penalty.
An origination fee of 2% of the loan amount applies (1% for nonprofits), plus closing costs of $650 plus any third-party fees such as appraisal or legal, and a $100 recording fee on larger loans.
Who can apply
Businesses and nonprofits located in Oregon or Washington. The programme targets established and growing businesses as well as entrepreneurs seeking growth capital, with a stated focus on those serving or representing underserved communities.
Food and beverage startups, straight debt refinancing, and businesses with active collections are flagged as harder to fund, though not automatically excluded.
How to apply
- Fill out the online intake form on Craft3's site.
- A Craft3 team member reaches out within 3 business days to schedule a call and determine fit.
- If qualified, you are invited to submit a formal loan application.
- Craft3 reviews and underwrites the application; loans up to $250,000 can close in 45 days or less, larger loans typically close in about 30 days but may take longer.
Documents you’ll typically need
- Established businesses: three years of business and personal tax returns, three years of financial statements plus year-to-date statements, and personal financial statements from any owner with a 20% or greater stake.
- Startups under 24 months old: 24-month financial projections, a business plan, and personal financial statements from owners with a 20% or greater stake.
Frequently asked
How much can I borrow from Craft3?
Craft3 offers a fast-track option up to $250,000, and larger loans up to $4,000,000 or more with more flexible terms.
What interest rate will I pay?
Fixed rates run from 8.00% to 11.00% on loans up to $250,000, and from 7.50% to 11.00% on loans over $250,000.
Where does Craft3 lend?
Craft3 lends to businesses and nonprofits in Oregon and Washington.
How long does approval take?
Loans up to $250,000 can fund in 45 days or less. Larger loans typically take about 30 days to close, sometimes longer.
Is there a penalty for paying off the loan early?
No, loans up to $250,000 carry no prepayment penalty.
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Reviewed 2026-09-25. Programmes change, so check eligibility, amounts and deadlines on the official page before you apply. CapEasy is a private firm and is not part of any government body.