SUPPORTING THE NEXT GENERATION OF MUSLIM-OWNED BUSINESSES

Wakalah Working Capital

Grow your business without compromising your faith

Starting a business is hard. Growing one can be even harder. For Muslim entrepreneurs, there are additional challenges.

Craft3’s Islamic financing enables Muslim entrepreneurs to access capital without compromising their faith. This working capital financing is designed for business financing needs, including startup funding, working capital, tenant improvements, and equipment and inventory purchases. 

Lilac Learning Center Team
who we work with

Nonprofits & Businesses in Oregon & Washington

  • Nonprofit and entrepreneurs serving or representing underserved communities
  • Entrepreneurs with the skills and temperament to succeed
  • Established and growing businesses and nonprofits

  • Entrepreneurs looking to seize business growth opportunities

Transformative

Financing that expands what’s possible for your organization and accelerates your timeline.

Flexible

Tailored to meet the needs and timescale of your specific project.

Accessible

You don’t need fully committed funding to apply.

Heading

Finance Your Growing
Business

  • Partnership: Through a Wakalah agreement, you act as Craft3’s agent to invest capital on our behalf.
  • Shared Revenue: Rather than a creditor-debtor relationship, Wakalah financing is based on shared projected revenue. 
  • Predictable Payments: You make fixed monthly payments based on projected revenue, with periodic reviews with Craft3 to ensure the investment is performing as expected.

        Our Financing Can Help You

        • Purchase equipment and inventory
        • Launch or grow your business
        • Hire employees
        • Improve your space

        Features

        • Funding in as fast as 30 days
        • Borrow $50,000 to $250,000
        • No prepayment penalties
        • No reporting requirements
        Businesses owned by entrepreneurs of color may qualify for lower rates and special terms

        Rates & Terms

        Purchases up to $250,000 

        Cost
        Fixed profit rate between 7.00% to 10.99% 
        Fees
        Origination fee of 2% of total plus closing costs  

        Fees for nonprofits are 1% plus closing costs 
        Closing Costs
        $650 plus any third-party fees for appraisal, legal, etc
        Term
        Typically 3 to 7 years, with longer amortizations possible in some cases 
        Repayment Terms
        Fixed repayment amount based on amount and term of the Wakalah agreement 

        Financing With Craft3

        Craft3 supports entrepreneurs at every step of the application process.

        1
        Introduce Your Business

        When you’re ready to apply, complete the online form below to help us learn about you and your business. If it looks like a potential fit, a Craft3 lender will reach out to talk with you about your business plan, uses of funds and collateral.

        2
        Apply

        A Craft3 lender will invite you to apply and help you complete your application package. We will review your application and give your request the careful attention it deserves. Review usually takes 1-2 weeks, although it can be shorter or longer depending on the size and complexity of the request.

        3
        Decide

        If we think we can help you with your request, we will notify you and outline the financing terms and the items, if any, we need for underwriting a final decision. After that we quickly move to closing and disbursement.

        Customer Story

        When Shukri Olow, a Somali immigrant, sought to open an in-home early learning center in a high-poverty area she needed money for tenant improvements and working capital. She also desired financing consistent with Islam’s prohibition against paying interest. Craft3 financing enabled her to open her child care center which will serve up to 30 children.

        Ready to take the next step?

        Looking for more Information?

        Business Resources

        We support entrepreneurs of all stages of the business journey and offer resources to help you learn, grow, and better understand your financing options.

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        For Businesses

        Owner-Occupied Commercial Real Estate

        To purchase your building, you’ll need capital and a trusted financing partner. Learn how Craft3 can help with an Owner-Occupied Commercial Real Estate Loan.

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        For Businesses

        Debt Financing Options

        There are many types of debt financing. The terms vary greatly and it’s essential that you understand them and the tradeoffs involved.

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        For Businesses

        Glossary of Finance and Business Terms

        If you’re interested in starting or expanding a business, you’ll likely encounter lots of terms and acronyms. This glossary will hopefully help you make sense of unfamiliar words and equip you for your business journey.