September 5, 2017

Bespoke Bee Supply

Portland, Oregon

Bespoke Bee Supply

As a start-up, Bespoke Bee Supply owners Kyle Lagendyk and Bill Ryan were ineligible for conventional bank financing. Craft3 provided a loan structured with interest-only payments throughout the start-up phase.
As a start-up, Bespoke Bee Supply owners Kyle Lagendyk and Bill Ryan were ineligible for conventional bank financing. Having worked with us in the past, Craig Hill at Beneficial State Bank knew that Craft3 could provide “valuable access to capital for under-capitalized markets” - and would have the ability to structure creative financing for a start-up.

Craft3 provided Kyle and Bill with feedback on their financial projections, to get them from application to closing in less than a month. Bill was impressed that the Beneficial State Bank referral was “enough to start a dialogue about a loan” and that Craft3 could “work with us where we were” in the business-cycle.

The $60,000 loan was structured with interest-only payments throughout the start-up phase, allowing the business to focus on manufacturing for the first six months, and only accrues interest on the drawn amount.

Check out their hives at www.bespokebeesupply.com.