Mercy Corps Northwest (MCNW) is the U.S. economic development office of Mercy Corps, the Portland-based international relief and development agency. Our mission is to assist all low-income populations, including minorities, women, refugees and immigrants, prisoners, previously incarcerated and the disabled in throughout Oregon and Washington State by increasing their economic self-sufficiency and community integration through micro-enterprise development and self-employment. To help clients achieve these outcomes, we provide three primary integrated business services:
Education, Training and Business Development Services:
Asset Development Services (Individual Development Accounts – IDAs)
Address: 45 SW Ankeny Street, Portland, OR 97204
Who is eligible for your services?
Small business owners who are unable to access capital and other small business resources through traditional financial providers.
What types of loans do you offer?
Small business term loans to new and existing businesses.
What are typical loan terms?
Amounts from $500-$50,000
Repayment terms from 3 months to 5 years
Interest rates ranging from 8%-12%
What are some typical examples of business you may work with?
We work with all types of businesses, provided that they provide a legal product and/or service and that the operation of the business does not harm or denigrate others or the environment. Our clients are artisans, restaurants, manufacturers, designers, health and wellness practitioners, contractors, teachers, service provider, among many others.
How would a client a potential client access Mercy Corps NW’s services?
Either through our website, which describes all of our programs in detail and provides direct access to applications, or by calling us directly at 503-896-5070.
What stage of business should come to Mercy Corps for a loan?
A business can be a start-up or an existing business.
Start-up businesses have a maximum loan amount of $20,000.
What are the top 3 things that you would like to tell small business owners that may come to Mercy Corps for a loan?
1) Be prepared: This means having a business plan, a budget, your financial records, know your credit history.
2) Plan ahead: In order for us to understand your business, analyze your plans and obtain an approval will take several weeks. This is not the place if your funding needs are urgent & immediate.
3) Be loan ready: You should be beyond the idea phase and ready to start operating. You know where you’re going to operate, your costs, where your products or services are coming from and how you’re going to compete and deliver them. If you’re not quite there, we have plenty of classes and seminars that can help get you there.
What amount of money is available to loan?
$500 – $50,000