Small Business Loan

Peruvian chef stands in a farmers market booth

We offer small business owners who are looking to start or grow their enterprise loans ranging from $500 to 50,000. These loans support businesses at all stages including owners with less than a year in operation and established entrepreneurs looking to expand operations. Our goal is to make capital available to entrepreneurs who cannot receive traditional financing from banks or credit unions. The average size of Mercy Corps Northwest's loans is around $10,000.

 

Requirements

Before you apply for a loan with our team, you will need to review the following requirements to ensure you currently, or will soon, meet all requirements:

  • Must be a resident of Oregon or Washington
  • Must demonstrate proof of regular income for loan repayments such as a recent business tax return or recent paystubs
  • Must have a registered business in Oregon or Washington and an Employee Identification Number (EIN) from the IRS
  • Must have an open business checking account at a bank or credit union
  • Must have no active bankruptcies in the last 12 months, no current delinquencies, and no outstanding collection accounts. We will review this and talk with you about your credit report. Check out out Credit Builder Loan if you do not meet this requirement.
  • Must have an individual Social Security Number (SSN) or Individual Tax Payer Number (ITIN)

If you meet these requirements keep scrolling to learn more about our loan offerings by payment tier.


MCNW client stands in front of her food cart

$500 to $10,000

This loan is frequently recommended for entrepreneurs who are just getting their enterprise off the ground and looking to build a stronger foundation. The minimum credit score to qualify is 550, however, no active credit score also qualifies.

Monthly Payments: $85 to $316
Length of Loan Payments: 36 months maximum
One-Time Closing Fee: 2% of loan amount ($10 to 200)
Total Interest: 8.5% APR (Annual Percentage Rate)

family of food truck owners stands in front of empanada truck

$10,001 to $25,000

This loan is frequently recommended for business owners who have over a year in operations under their belt, but is offered to businesses at any stage. The minimum credit score to qualify is 600, however, no active credit score also qualifies.

Monthly Payments: $317 to $608
Length of Loan Payments: 48 months maximum
One-Time Closing Fee: 2% of loan amount ($317 to 608)
Total Interest: 7.75% APR (Annual Percentage Rate)

Antonio Garcia of Abzuya Woodworking

$25,001 to $50,000

Our team offers loans of larger sizes to businesses that are looking for larger amounts of capital to grow. The minimum credit score to qualify is 650, however, no active credit score also qualifies.

Monthly Payments: $609 to $1,008
Length of Loan Payments: 60 months maximum
One-Time Closing Fee: 2% of loan amount ($500 to 1,000)
Total Interest: 7.75% APR (Annual Percentage Rate)


Start your loan journey

We are proud to offer resources that help you stay informed as you partner with our loan program to achieve your business goals.

Credit 101

Credit can be confusing.  Today, more than ever, it is critical to know what your score is and where you stand. Dive in to learn more about how you can expertly manage your credit.

Loan FAQ

Whether this is your first loan, or the next loan on your business journey, our list of frequently asked questions has information on all you need to know to get started.

Fill out a loan expression of interest.