Quality Jobs, Waterfront Revitalization

Oregon
Owner-Occupied Commercial Real Estate
Small Business Assets and Growth
  • 35 jobs created in high-poverty area
  • $14.7 million real estate locally-owned
  • $13 million other project funds leveraged

For Fort George Brewery + Public House it’s always been about more than the beer. Co-founder Chris Nemlowill explains, “Our work is about supporting the community … It’s about creating a future for our kids and our town. Astoria was a depressed community when I was growing up. I love … being part of a team that’s creating something.”

Since its founding in 2007, Fort George has played a big part in Astoria’s revitalization. Early success and rapid growth inspired Nemlowill and co-founder Jack Harris to purchase two historic buildings spanning an entire city block. Craft3, seeing potential community benefits and a strong business, has been a financing partner since their early days.

In 2020, we used a $12 million New Markets Tax Credit investment to provide capital for Fort George to develop a waterfront campus on the site of the former Samuel Elmore Cannery. This major project brings 35 quality jobs to Astoria, Oregon and will be an enduring community resource.

For Craft3, it’s always been about more than simply making loans. We’re a trusted advisor and advocate. We learn about the businesses we serve, connect entrepreneurs to resources, and support them after their loan closes. We also focus on projects like this one that offer broader community impacts — good jobs, lasting economic development, and a connection to place and history.

Coaching Clients to Loan Readiness

Our stories tend to focus on the loan and what that loan enables, whether it’s a community center, a retail shop, or a construction project. For business owners, however, it’s often a lot of work to successfully apply for and receive a loan. This is especially true as many of the clients we serve are unable to qualify for bank financing and may need to do additional work to demonstrate loan readiness.
Oregon
General Business Loan

Olympia Community Solar Delivers Local Clean Energy and Savings

Olympia Community Solar wanted to help Thurgood Marshall Middle School transition to clean energy and lower its utility bills. A Craft3 bridge loan provided the funds upfront to install the solar project. Not only did this provide an environmentally friendly solution, but also it reduced the neighborhood’s energy burdens, allowing the school and residents to reinvest in their buildings, education, and students.
Washington
Bridge Loan

Feeling at Home at OHSUN Banchan Deli & Cafe

Sara Upshaw wanted her business to feel like a cozy home, but she herself didn’t feel at home in the world of business, which she found to be secretive and opaque. Determined to launch her business, Sara connected with Craft3 for coaching and loan support. The loan she received covered tenant improvements and startup costs, and provided an opportunity for a new entrepreneur to feel at home.
Washington
General Business Loan

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Craft3 is an equal opportunity lender and employer. NMLS #390159. Completing an application does not guarantee loan approval or funding. Craft3 (EIN 91-1662698) is a 501(c)(3): all donations are tax deductible. Copyright 2024 Craft3. All rights reserved.