Craft3 

We are headquartered in the rural coastal community of Ilwaco, Washington and have offices in Seattle and Port Angeles, Washington and in Astoria and Portland, Oregon. Craft3 is growing into a regional institution supporting long-term, place-based strategies that link rural and urban communities of the Pacific Northwest.

Our loan portfolio of $144 million consists of loans to businesses, private and public non-profit organizations, individuals, child care providers, municipalities and innovators of all kinds. This fund is supported by banks, corporations, government resources, religious and philanthropic organizations and individuals. Since inception in 1995, Craft3 has invested over $243 million in the people and communities of the Pacific Northwest. Investments range from $5,000 to $10 million.

Craft3 Business Loans
Craft3 lends to great people, doing great things, throughout Oregon and Washington. We specialize in helping borrowers who cannot get needed financing from traditional sources. We are always seeking opportunities to invest our resources in businesses and non-profits that promote our triple bottom line mission and commitment to economic, ecological and family resilience.

We lend to businesses, individuals, government agencies and non-profits who believe in our mission, and whose own vision aligns with our vision for the region.

We make loans to businesses to finance real estate, working capital and/or financing for the acquisition of additional or replacement furniture, fixtures, equipment and related personal property. Our team believes businesses have the opportunity to make a significant impact on the resilience of our region, by creating jobs, bringing revenues into the region, providing much-needed products and services, creating environmentally friendly products and much more.

At Craft3, our business loans are tailored to your unique situation. Whether you have an existing business, or a plan for a new business.

Energy Efficiency Loans
Craft3 Energy Efficiency Loans were developed to provide affordable financing to implement energy efficiency measures in homes and businesses, to reduce carbon emissions, expand ‘green collar’ jobs, reduce energy costs and support tenure.

• Energy Efficiency Loans for Home Upgrades In partnership with the City of Seattle’s Community Power Works (CPW) and Clean Energy Works Oregon (CEWO), we offer energy efficiency loans specially designed to provide broad access to credit and to enable you, as a homeowner, to finance 100% of the upgrades with no money down. Loans are provided at fixed interest rates and amortized for up to 20 years. You can repay the loan through your regular utility bill.
  
  Typical upgrades include new insulation, installing a high-efficiency furnace or water heater, or sealing up openings, around doors, windows, air ducts, attics and crawlspaces. Depending on the upgrades you select, your home will be less drafty, the temperature will be more comfortable, and the indoor air quality will improve.
• Energy Efficiency Loan for Small Business - The Craft3 Energy Efficiency Loan is available to commercial tenants, property owners, and owner-operators in the City of Seattle. We are flexible in qualification requirements, and repayment terms. With an energy upgrade, your business can reduce operating costs, qualify for substantial utility rebates, and create a more comfortable, attractive customer environment.
• Companion Financing for Contractors - Craft3 offers loans to energy efficiency contractors working with Clean Energy Works Oregon and Community Power Works. Our goal is to lower barriers to entry and participation, especially among woman and minority owned contracting firms. We provide contractors with 50% upfront advances for program-eligible projects. Depending on the number of jobs allocated and started, outstanding credit advances to could range from $50,000 to $100,000. As a contractor, you are not required to participate in the advance program.
• Weatherization Training and Loan Program
  In partnership with the Community Action Team (CAT) and Clatsop Community College's Small Business Development Center (SBDC), Craft3 developed the Weatherization Training and Loan Program. This supports the growth of small general contractors located in Clatsop, Tillamook, Columbia (OR) and Pacific (WA) counties by providing the skills and tools to successfully complete weatherization work for the energy efficiency market. CAT provides contractors with the necessary weatherization training, we provide financing in the form of a weatherization equipment loan and/or working capital financing, and SBDC provides business counseling support to contractors as they tackle this new line of work

Clean Water Loans
Craft3 believes improving water quality is important to creating ecological resilience. This was the motivation for Craft3 to partner with local government agencies to deliver low interest loans to repair and replace failing septic systems. The loan is made possible with the support of the State of Washington, and the Bill and Melinda Gates Foundation.

We understand the alarm property owners experience when faced with the unexpected and often substantial costs associated with the repair or replacement of a failing septic system. Many people simply cannot afford to pay this expense “out of pocket.” We can help.

Craft3 Clean Water Loans are available to help reduce the financial barriers preventing you from repairing or replacing your failing septic system. Loan proceeds can cover up to 100 percent of the costs of designing, permitting, installing, and maintaining a septic system.

You are eligible for a Craft3 Clean Water Loan if you own property in the Washington Counties of Clallam, Jefferson, Kitsap, or Mason; the Port Gamble S’Klallam or Skokomish Tribe. If your property is located in a priority area of Willapa Bay within Pacific County, Washington, you may also be eligible.

In 2011, Craft3 was selected by the State of Washington Department of Commerce to partner through their State Small Business Credit Initiative program. As a participant, Commerce awarded Craft3 its largest program allocation and Craft3's largest capital grant of $8.72 million to capitalize an off-balance sheet fund to make loans to small businesses and entrepreneurs poised for growth, but unable to access capital through traditional sources. Because of the type of capital provided, Craft3 is able to leverage these dollars and significantly grow capital resources available to this important customer segment. In less than 18 months, Craft3 has invested $14 million in 11 businesses, which has supported, among other outcomes, the creation/ retention of 515 jobs in Washington.

In 2008 and 2011, the Opportunity Finance Network conducted a CARS™ Audit of Craft3. Using the CARS rating system described below, we are proud to have received a AAA2 CARS™ rating each time. CARS™, the CDFI Assessment and Rating System, is a comprehensive, third-party analysis of community development financial institutions that helps investors and donors decide where to make investments. CARS™ use a comprehensive methodology for rating Community Development Financial Institutions (CDFIs), like Craft3, in the areas of Impact Performance and Financial Strength and Performance. Craft3 has received stable ratings in each of its annual reviews, including 2012.