Congresswomen Suzanne Bonamici Release,
Congresswomen Suzanne Bonamici (D-OR) and Jaime Herrera Beutler (R-WA) announced that Craft3 has received a $750,000 grant from the Community Development Financial Institutions (CDFI) Fund to support local businesses. Craft3 is a nonprofit lender that has served Pacific Northwest businesses, families, and communities since 1994. Craft3 was founded in the Lower Columbia and currently operates from eight offices throughout Oregon and Washington.
“Businesses in Northwest Oregon and throughout the region are growing, but it takes resources and capital for them to expand and thrive,” said Congresswoman Bonamici. “This investment from the US Department of Treasury will help Craft3 continue to make business loans in our area, which adds jobs and boosts economic development. As a trusted community financial institution, Craft3 has invested close to $400 million in area businesses, creating or retaining almost 11,500 jobs. This grant will support their efforts to make our economy more vibrant and resilient.”
“Community Development Financial Institutions play an integral role in financing small, local projects in Southwest Washington, and I’m pleased that Craft3 of Ilwaco will now have $750,000 to loan to our small businesses,” said Congresswoman Jaime Herrera Beutler. “I often meet with local small businesses and job creators, and one of the most common struggles I hear about is a lack of access to financing. CDFIs like Craft3 are uniquely able to serve rural communities facing economic challenges by helping present entrepreneurs with financing options to sustain or grow their businesses. From my position on the House Appropriations Committee, I’ll make sure CDFIs can continue strengthening our rural communities.”
“This award from the CDFI Fund provides Craft3 with new loan capital for entrepreneurs and communities in the Lower Columbia and across the Northwest. This means we can continue our mission of building strong, resilient economies where small businesses thrive,” said Adam Zimmerman, President and CEO of Craft3. “We’d like to thank Representatives Bonamici and Herrera Beutler for their support of that mission – and for fighting in Congress for annual funding that helps entrepreneurs have the capital resources they need to be successful.”
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