About Cascadia
What is Cascadia Revolving
Fund?
We are a private, non-profit community development loan fund which provides
loans and technical support to small businesses which have been unable
to access financing through traditional sources. We lend to women, minority
and low-income entrepreneurs; and to businesses which are located in distressed
urban and rural communities, have a significant potential for job creation,
or act to preserve or restore the environment.
Our goal is to help entrepreneurs start and grow successful businesses,
in an effort to bring much needed jobs and economic prosperity to distressed
communities throughout the Washington and Oregon.
In its eleven year history Cascadia has lent more than $7 million to
more than 160 businesses, creating or preserving more than 400 jobs. 71%
of our borrowers have been low-income according to HUD guidelines.
Cascadia is funded by both donations and investments from the philanthropic
community. We provide the opportunity for individuals to make high impact
socially responsible investments. If you would like to invest
in Cascadia, or otherwise support its activities, becoming
a member is the first step.
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How successful has Cascadia been?
Cascadia has been lending since 1987. We have lent over $7 million to
nearly 140 businesses, creating or preserving more than 350 jobs. 80% of
our borrowers are still in business, and our total loan loss rate has been
less than 3%.
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How has Cascadia built such a successful
track record?
We offer a continuum of credit and support, through a delivery strategy
that emphasizes both community partnerships and portfolio diversity. We
draw borrowers from a large geographic area, helping to promote industry
diversity throughout the region. This is a critical component of revitalization
for rural Washington and Oregon communities, traditionally dependent on
the now declining timber and fish industries. Our partnerships with local
community organizations allow us to combine the credit and specialized
technical skills we provide with knowledge of the local economy and the
local support network that is so crucial to the success of a business.
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Where does Cascadia get its money
to lend?
Cascadia's loan fund capital comes from nearly 200 investors, more than
80% of whom are individuals. It is important to note that a major portion
of our loan capital comes from private, rather than public sources. Cascadia
appeals to a broad spectrum of individuals and institutions, primarily
because we act as a conduit through which they can put their money to work
in their community.
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Tell me about investing.
Washington and Oregon residents can make high-impact socially responsible
investments in Cascadia. Investments may range from $500 to more than $100,000,
must be for a minimum term of one year, and may earn a rate of return between
0% and 3.5%. Each investor chooses his or her own investment terms within
the guidelines described above. We strongly recommend that potential investors
read Cascadia's Offering Circular before making an investment.
As a non-profit organization, Cascadia is exempt from registration with
the Securities and Exchange Commission, and is therefore prohibited from
offering investment opportunities to non-members. Call us at (206) 447-9226,
or send e-mail to request a
complete investor information packet, or become a member
right now!
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Is Cascadia a government entity?
No. Cascadia Revolving Fund is a private, non-profit organization. Individuals
and organizations who want to see their money put to work in the community
invest it in Cascadia. We pool those dollars and lend them back to our
borrowers. When our borrowers pay back their loans, we are able to relend
the money and/or repay our investors.
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National recognition
Although Cascadia is a relatively small organization, with a staff of
eight full-time and four part-time employees, it has become a national
leader in the field of community development lending. In recent years Cascadia
has received the attention of the national press. Publicly recognized events
have included:
- Receiving a first-ever Presidential Award for
Excellence in Microenterprise Lending , presented to Cascadia by President
Clinton in a White House ceremony with the President and Mrs. Clinton on
January 30, 1997.
- Honoring outgoing Executive Director Patty Grossman as "Person
of the Week" on ABC World News Tonight with Peter Jennings on January
31, 1997 for her work in community development lending.
- Receiving a philanthropic donation of $30,000 from Wells Fargo Bank
that was publicly announced on February 18, 1997. Wells Fargo joins SeaFirst,
U.S. Bank, Washington Mutual, Enterprise Bank, Washington Federal, Citibank,
Bank of America, Columbia Bank, and Key Bank who have made significant
investments as well as donations to Cascadia and whom we see as essential
partners in addressing our communities' needs.
- Being awarded a contract to manage the King County Loan Fund to provide
small business loans and technical assistance to minority and women owned
businesses in King County.
- Being one of only 31 (out of 268) organizations nationwide to win a
national award and financial support from the Community Development Financial
Institutions Fund in its first round of funding.
- Winning a second award of financial assistance in the amount of $1.17
million (including a $170,000 grant and a $1 million investment) in the
Community Development Financial Institutions Fund's third round of funding.
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Cascadia's Board of Directors
Members of the Cascadia Revolving Fund Board are a collection of individuals
with a diverse set of skills, talents, experiences, and viewpoints who
collectively represent our community. These trustees commit their time,
energy, enthusiasm, resources and connections to strengthen Cascadia's
mission. The Board has governing responsibility for a $675,000 annual operating
budget and oversight responsibility for a loan portfolio of approximately
$3.1 million.
- Rosemarie Anderson
First Interstate Bank, Senior Vice President (retired)
- Howard Barkhoff, Treasurer
Bloom & Associates, P.C., Tax Specialist
- Bonnie Berk
Berk and Associates
- Richard Feldman
Worker Center, AFL-CIO, Executive Director
- Christina Koons
KOBA, Inc., President
- Edie Lackland, President
King County Department of Natural Resources, Department Budget Coordinator
- Kristal McKinney
U.S. Bank, Vice President and Business Relations Manager
- Howard Phillips
Northwest Defenders Association, Attorney
- Alan Rabinowitz
Consultant on community based economic development issues
- Sheryl Symonds
Pacific Aerospace and Electronics, Inc., Attorney
- Lisa Vatske
Business owner
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Advisory Committee
- Shari Behnke
The Behnke Foundation
- Gene Brandzel
Brandzel Consulting Group
- Jon Fine
American Red Cross
- David Friedenberg
The Commerce Bank of Washington NA, Vice Chairman
- Patty Grossman
Economic Development Consultant
- Gary MacLeod
Laird Norton Trust, Chairman of the Board
- Richard McIver
Seattle City Council, Councilmember
- Jack McMillan
Nordstrom, Director
- Holly Miller
T.T. Minor, Project Manager
- Charles Riley
U.S. Bank, Executive Vice President
- Dennis Weston
Fluke Capital Management Division, L.P., Venture Capital Division
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Cascadia's staff
- Shaw Canale, Executive Director
- Kathleen Burton, Senior Commerical Loan Officer
- Barbara Chin, Office Manager
- Josh Drake, Commercial Loan Officer
- Ellen Homan, Business Consultant
- Mary Ann Johnson, Commercial Loan Officer
- David Kleiber, Associate Director
- Thea Kleiber, Development Officer
- Pam MacRae, Investor Services
- Pam Nelson, Loan Administrative Assistant
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Position Announcements
As of December 1998, we are seeking to fill two positions. Job descriptions
for each are listed below. Resumes will be accepted until the positions
are filled.
POSITION: Washington Commercial Loan Officer
DESCRIPTION: Solicit and underwrite loan applications in a manner that
supports the Fund’s mission while providing the assistance to applicants
and borrowers necessary to produce a balanced and productive loan portfolio.
JOB SUMMARY:
Lending
Marketing of the Fund’s loan products to potential borrowers and referral
sources
Preparation of credit recommendations for presentation to the Loan Review
Committee
Close and document loans in consultation with staff and legal counsel
Maintain accurate and complete loan files
Develop productive relationships and maintain close communication with
borrowers
Maintain rigorous risk management of loan portfolio to ensure repayment
of loans
Manage loan workouts when necessary
Some travel as the Fund’s borrowers reside in Washington and Oregon
Participate in training, technical assistance and organizational capacity
building efforts
Other tasks as assigned
Project Management
From time-to-time this position may be required to manage segregated funds
restricted to targeted geographic areas and/or populations.
Public Relations
Speak to media, community groups, investors and others about the goals
and achievements of the Fund.
Special Considerations
A dedication to issues of economic justice is helpful if accepting this
extremely demanding job. The position requires the usual superhuman qualities-
flexibility, perseverance, sensitivity, self-motivation and creativity.
Familiarity with the field of community economic development a plus. We
are a 10 FTE organization that works closely together while each individual
member of the group carries considerable individual responsibilities. Benefits
are not laughable.
Position is currently available. We will accept resumes until the position
is filled. Please indicate salary requirement. Send a resume and any additional
material you feel is necessary to make us feel we need to talk with you
to:
Shaw Canale, Executive Director
Cascadia Revolving Fund
119 1st Ave. S. Suite 100
Seattle, WA 98104
Cascadia Revolving Fund is an equal opportunity employer; women and
minorities are especially encouraged to apply.
POSITION: Oregon Commercial Loan Manager
DESCRIPTION: Solicit and underwrite loan applications in a manner that
supports the Fund’s mission while providing the assistance to applicants
and borrowers necessary to produce a balanced and productive loan portfolio.
This position will be based in Portland.
JOB SUMMARY:
Lending
Marketing of the Fund’s loan products to potential borrowers and referral
sources
Preparation of credit recommendations for presentation to the Loan Review
Committee
Close and document loans in consultation with staff and legal counsel
Maintain accurate and complete loan files
Develop productive relationships and maintain close communication with
borrowers
Maintain rigorous risk management of loan portfolio to ensure repayment
of loans
Manage loan workouts when necessary
Some travel, as the Fund’s borrowers reside throughout Washington
and Oregon
Participate in training, technical assistance and organizational capacity
building efforts
Other tasks as assigned
Project Management
From time-to-time this position may be required to manage segregated funds
restricted to targeted geographic areas and/or populations.
Public Relations
Speak to media, community groups, investors and others about the goals
and achievements of the Fund. This responsibility will be of particular
importance as we seek to enhance our public profile in Oregon.
Special Considerations
A dedication to issues of economic justice is helpful if accepting this
extremely demanding job. The position requires the usual superhuman qualities-
flexibility, perseverance, sensitivity, self-motivation and creativity.
Familiarity with the field of community economic development a plus. We
are a 10 FTE organization that works closely together while each individual
member of the group carries considerable individual responsibilities. Benefits
are not laughable.
Position is currently available. We will accept resumes until the position
is filled. Please indicate salary requirement. Send a resume and any material
you feel is necessary to make us feel we need to talk with you to:
Shaw Canale, Executive Director
Cascadia Revolving Fund
119 1st Ave. S. Suite 100
Seattle, WA 98104
Cascadia Revolving Fund is an equal opportunity employer; women and
minorities are especially encouraged to apply.
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Cascadia Revolving Fund
119 First Avenue South, Suite 100, Seattle WA 98104
phone (206) 447-9226
fax (206) 682-4804
last updated: January 14, 1999