The Program is made up of two separate programs — a grant and a loan. Applications for the grants are not currently being accepted.
Small Business Resilience Loans
- $450,000 for Business Resilience Loans is available for our community.
- Loan amounts range from $10,000 to $50,000.
- 5% fixed interest rate, 48-month term
- No principal or interest due for the first 3 months, then interest-only payments for 3 months. Following that, loan balance will be amortized over the remaining 42 months.
- For businesses that have been impacted by COVID-19.
- Businesses that have been in business for minimum of 2 years
- Profitable in 2019
- Applicants will first be screened by a local review committee. Businesses that meet eligibility requirements will then be invited by Craft3 to apply. Only businesses referred by the committee will be considered for financing.
- Eligible businesses need to fill out a full application, submit financial documents, and be underwritten according to Craft3’s credit standards. Due to limited funding and credit requirements, not every business will receive a loan.
Small Business Emergency Grants
- $117,000 of grants are available for businesses in the city of Walla Walla.
- Grants range from $1,000 to $10,000.
- Sole proprietors, microenterprises, small businesses with up to 10 employees are eligible.
- Businesses open for less than 12 months are eligible to apply.
- Applicants will need a photo ID and your most recent business tax return or financial document.
At this time, we are no longer accepting applications for Small Business Emergency Grants. If additional funding is available to re-open the program for new applications, we will post about it here.