Revolving Line of Credit

for food and beverage processors

Financing Your Business with a Revolving Line of Credit

 

Craft3 knows that local food and beverage processors are vitally important to a thriving regional economy. We also understand that you need flexible capital to take advantage of opportunities and act on good ideas. 

Our lending team has deep experience working with and financing food and beverage businesses. We take the time to get to know you and make sure we understand the opportunity, the risks, and how you’ll repay the loan.   

As a non-profit, mission-driven lender, we’re different. We specialize in working with businesses that can’t access traditional bank financing. And we understand that many capable entrepreneurs with strong businesses lack the credit, equity and/or collateral needed to access conventional financing.

Flexible capital to get you where you want to go

With a Craft3 revolving line of credit you have access to the capital you need, when you need it. This means you can respond to opportunities as they arise.
 
rates
 
RLOC
 
no reporting
Competitive interest rates
$25,000 to $100,000 revolving credit line
Zero reporting requirements

 

For entrepreneurs of color, Craft3 is pleased to offer special terms and rates.
  • Fixed rates as low as 5%
  • No loan origination fee
  • Closing costs of $200 plus 3rd party costs, (example, appraisal or legal fees, etc.)
     

Rates and Terms*

*Entrepreneur of color-owned businesses may qualify for lower rates and special terms.

Loan size Up to $100,000
Rates Fixed rate 9.5%*
Fees Loan origination fee of 2% of loan total*
Closing costs $650
Term 15 months

Repayment terms

 Interest only monthly payments on principal balance. Balance due at maturity

Process

Obtaining a business loan is more involved than taking out a home mortgage. At Craft3, we support entrepreneurs every step of the way. Below you can see the main steps in the process.
 
 
apply online
Introduce Your Business
Complete a brief online form to help us learn about you and your business. We can then determine whether Craft3 financing might be a good fit for you.
 
 
 
call
Talk with our Lending Team
If it looks like a potential fit, a Craft3 lender will reach out to talk about your intake form and determine whether we can proceed. At this stage, topics of discussion may include: your business plan, uses of funds, projections, and collateral. Put simply, we want to learn who are you, what you want to do with the funds and how will you pay the loan back.
 
 
 
submit application
Apply
Work with one of our lenders to complete and submit your full loan application package.
 
 
 
budget
Application Review
We’ll review your full application package and give your request the careful attention it deserves. The review process usually takes 1-2 weeks, although sometimes it can be longer.
 
 
 
review process
Funding Decision
You’ll receive a decision from us and, if you receive a conditional approval, we’ll tell you what closing conditions are required to close your loan.
 
 
 
Hand Money
Disburse
When closing conditions are met, we disburse the funds.
 
 
 
Repay
Repay
Repay your loan with automated payments from your bank account.
 

 

Get Started Today

Related Stories

Financing National Distribution for Young Mountain Tea

Food and Agriculture Loan

Financing National Distribution for Young Mountain Tea

Warehouse build out for Chesed Farms

Food and Agriculture Loan

Warehouse build out for Chesed Farms

A Homecoming for Jackson’s Catfish Corner

Food and Agriculture Loan

A Homecoming for Jackson’s Catfish Corner

Stay Connected with Craft3

 



eho-logo-transparent

Craft3 is an equal opportunity lender and employer. NMLS ID 390159 NMLS Consumer Access.
The completion of an application does not guarantee loan approval or receipt of loan funds.
Craft3 is a 501(c)(3) and all donations are tax deductible. EIN 91-1662698.
Copyright © 2015-2022 Craft3 ALL RIGHTS RESERVED. Craft3 and the Craft3 logo are registered trademarks of Craft3.