Craft3 — Small Business Loans
Craft3
Up to $4M+ (fixed rate)
Oregon & Washington CDFI lender
Craft3 is the largest CDFI loan fund in Oregon and Washington — a nonprofit Community Development Financial Institution that lends to small businesses, including startups and expansions, across those two states. General business loans up to $250,000 carry fixed rates of 8.00%–11.00%, and larger loans above $250,000 (up to $4,000,000 or more) carry fixed rates of 7.50%–11.00%, typically over 3–7 year terms with longer amortizations possible, interest-only payments available for the first three months, and no prepayment penalties. Loans up to $250,000 can fund in 45 days or less. Funds can purchase equipment and inventory, launch or grow a business, hire employees, improve business spaces, expand operations, or buy buildings. An origination fee of 2% (1% for nonprofits) plus closing costs applies.
- Funding type
- Loan
- Level
- Private
- Amount range
- $5,000 – $4,000,000
- Realistic amount
- Most Craft3 small business borrowers take a general business loan at or under the $250,000 f…
- Deadline
- Rolling
- Status
- active
- States
- Oregon, Washington
- Payment model
- loan
Who qualifies
- Business located in Oregon or Washington
- For-profit small business (nonprofits also eligible at reduced fees)
- Demonstrates ability to repay; startups and expansions both eligible
- Use of funds is an eligible business purpose (equipment, inventory, launch/grow, hiring, space improvements, expansion, building purchase)
What it covers
Eligible expenses
- Equipment and inventory purchases
- Business launch or growth costs
- Hiring employees
- Improving business spaces / tenant improvements
- Expanding operations
- Purchasing buildings
Ineligible expenses
- Debt refinancing (difficult to fund)
- Loans where soft costs dominate
- Personal, non-business expenses
How to apply
-
1
Complete the online inquiry form
Fill out Craft3's online form so the team can learn about you and your business and confirm Oregon/Washington eligibility.
~1 hrs
-
2
Work with a lender on the full application
A Craft3 lender follows up (typically within 1–2 weeks), helps identify the right loan size and structure, and collects financials, tax returns, and a use-of-funds plan.
~6 hrs
-
3
Underwriting and approval
Craft3 underwrites the loan based on repayment ability and the business plan. Loans up to $250,000 can be approved and funded in 45 days or less.
~3 hrs
-
4
Close and fund
Execute loan documents (origination fee 2%, 1% for nonprofits, plus closing costs) and receive disbursement. Interest-only payments are available for the first 3 months and there is no prepayment penalty.
~2 hrs
Craft3 explicitly flags food-and-beverage startups, debt refinancing, and soft-cost-heavy requests as hard for it to fund — so frame your ask around tangible assets (equipment, inventory, a building, hiring) to land in its sweet spot. Loans under $250K can close in 45 days, and the first three months can be interest-only, which helps a young business manage early cash flow.
Deadline & timing
Applications accepted on a rolling basis via an online form; applications are typically reviewed 1–2 weeks after submission, and loans up to $250,000 can fund in 45 days or less.
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Last reviewed 2026. GrantCompass is an independent funding-discovery tool and is not affiliated with any government agency. Always confirm details on the official program page.