Frequently Asked Questions about Getting a Loan from Cascadia
Who can get a loan?
Cascadia makes loans to small businesses based in Washington or Oregon that, for many reasons, can not qualify for traditional bank financing and support.
Cascadia lends to many different kinds of small businesses. Each applicant is evaluated on a case-by-case basis. Former and current borrowers include, but are
not limited to, the following:
- businesses owned by low-income people, women, minorities, and immigrants
- child care businesses
- businesses that create family-wage jobs in low-income communities
- businesses in rural communities
- nonprofit community building organizations
- cooperatives
- businesses that work to preserve or restore the environment.
For more information on Cascadia’s borrowers, see selected borrower stories.
If you would like to discuss the possibility of obtaining a loan from Cascadia, call us in Washington at (206) 447-9226, in Oregon at (503) 235-9635, or in Central Oregon at (541) 318-1120.
Our lenders will be happy to discuss your business and send you the information you need to apply.
Quick loan facts
We offer term loans and asset-based lines of credit.
The maximum amount for a term loan is $500,000. Lines of credit range from $50,000 to $500,000.
Loan interest rates are fixed and are generally higher than bank rates.
Loan terms range from one to five years, although certain loans can be amortized for longer periods.
Collateral is usually required, although Cascadia’s requirements are more flexible than those of commercial banks.
For what purposes will Cascadia lend?
Cascadia lends money for a variety of purposes. They include, but are not limited to:
- equipment and inventory
- working capital
- building improvements
- debt refinancing.
Cascadia does not make personal loans to individuals.
Does Cascadia lend to start-ups?
Cascadia prefers to see at least six months of operating history at, or close to, break-even. In order to lend to a start-up, we need to see a solid business
plan with financial projections and an explanation of your business management skills and industry experience.
Give one of our lenders a call in Washington at (206) 447-9226, in Oregon at (503) 235-9635, or in Central Oregon at (541) 318-1120 to discuss your business idea.
What will Cascadia accept as collateral?
Cascadia accepts business assets and personal assets as loan collateral. Borrowers are sometimes able to find friends or family members
who will cosign the loan or will pledge their assets as collateral on the borrower’s behalf.
How does Cascadia differ from a bank?
Cascadia’s typical borrower has one or more weaknesses that prevent it from accessing traditional bank financing. These weaknesses may
include insufficient operating history, imperfect credit history, or inadequate collateral. Cascadia is designed to be more flexible than commercial banks.
Our lenders work with applicants to ensure that the applicant will benefit from a loan and that he or she understands what it involves to become bankable.
Once a loan is closed, Cascadia’s business consultants provide intensive, ongoing technical support to assist the borrower in developing a strong, viable business.
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