Cascadia's Borrowers
Cascadia's goal is to provide low income people with the opportunity
to create jobs and properity for themselves through self-employment. With
the help of funding from socially concerned investors, Cascadia has made
it possible for many entrepreneurs to succeed economically, when they might
otherwise have struggled in vain. In so doing, Cascadia has increased employment
opportunities and the quality of life for residents of distressed urban
and rural communities throughout the Pacific Northwest region. Cascadia
has been instrumental in creating or preserving more than 400 jobs since
it made its first loan in 1987.
Who do we lend to?
Cascadia makes loans to small businesses based in Washington or Oregon
that can not yet qualify for traditional bank financing and support services.
We target our loan programs to low-income entrepreneurs, with an emphasis
on low-income women, minorities, and displaced workers from the decimated
timber and fishing industries. We also lend to businesses which are located
in distressed urban or rural communities; to those which have a high potential
for job creation in communities of high unemployement; and to businesses
which act to restore or preserve the environment.
Businesses to which we have lent include:
| organic farms |
child care facilities |
| retail shops |
worker-owned cooperatives |
| recycling companies |
non-profit theater groups |
| dry cleaners |
value-added wood products manufacturers |
| restaurants |
machine repair shops |
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Cascadia's Loan activity to date:
1987 - 1997
| Total dollars loaned |
$7,000,000+ |
| Total number of loans |
198 |
| Loan size range |
$300 - $150,000 |
| Median loan size |
$22,000 |
| Jobs created or preserved |
700+ |
| Percentage of businesses continuing to operate |
more than 80% |
| Total loan fund dollars repaid |
99% |
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Successful Borrowers
The success rate for Cascadia borrowers, that is, borrowers remaining
in business, exceeds 80%. In addition, Cascadia's loan loss rate is less
than 1%.
Although Cascadia's loans are typically considered high-risk, this risk
is mitigated by the time-intensive technical assistance we provide each
borrower. We monitor our borrowers closely, to detect and solve potential
problems before they become insurrmountable. We recruit pro bono legal
counsel, accounting advice, and other technical assistance from qualified
professionals, to supplement the technical assistance our loan officers
provide. This helps to ensure that Cascadia borrowers have every opportunity
to succeed.
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Business ownership financed
by Cascadia: 1987 - 1997 *
- Low income individuals 71%
- People of color 23%
- Women 35%
* Borrowers may belong to more than one category
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Recent Cascadia loans
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Cascadia Revolving Fund
119 First Avenue South, Suite 100, Seattle WA 98104
phone (206) 447-9226
facsimile (206) 682-4804
last updated: August 10, 1998