Small Business Resilience Fund

Business Resilience Loans

Craft3 is working in partnership with Washington County, Oregon to provide Business Resilience Loans to help stabilize and reopen the region’s diverse business community.

How to Apply

If your business meets the eligibility criteria for a Business Resilience Loan in Washington County, please follow these steps. Note that you should not apply through the Apply Now link at the top of this page.

1) Send an email expressing interest to WaCo.COVID@Craft3.org. Please note that we cannot consider businesses for loans if they do not meet eligibility criteria listed on this page.
2) We'll reply with a short PDF application. Fill it out and return it to us with your 2018 business tax returns and/or 12/31/19 financials.
3) Once you submit your PDF application and documentation, we'll begin underwriting your application.
4) If we're able to approve your application, signing of loan documents will occur electronically and funding your loan generally happens five days after that.

Rates and Terms

Loan Size

$10,000 to $25,000

Rates

5.00% fixed for the life of the loan

Fees

2 percent, no other closing costs

Term

48 months

Repayment frequency

  1. Fully deferred payments for months 1, 2, 3
  2. Interest-only monthly payments for months 4, 5, 6
  3. Principal & interest payments on the balance amortized over the remaining 42 months

All payments to be made via automatic bank withdrawal

 Prepayment

There are no prepayment penalties; loans can be repaid at any time

Security / Guarantees

Personal guaranty required for anyone owning 20% or more of the business

Loan secured by a filing on general business assets, which may include inventory, fixtures and equipment