Columbia Basin Trust — Basin Business Advisors
Highlights
This program is designed for business owners like you who want to grow and succeed. By joining, you gain access to one-to-one business advisement tailored to your needs, education workshops on practical topics, and program referrals to navigate available business resources. These resources are invaluable for identifying opportunities and overcoming challenges.
What You Get:
- Personalized business advisement to address your specific needs
- Workshops on essential business topics such as marketing and financial management
- Referrals to other valuable business programs and resources
- Learning networks to connect with other business owners and share insights
This program offers skilled mentorship and advice that can help you develop a clear vision for your business and create a customized plan for success. The support you receive will equip you with the tools and knowledge needed to grow your business effectively. Plus, qualifying for this program is straightforward, making it an accessible opportunity for your business.
Financing Details
Type of Financing: Grant
Eligible Expenses:
- Purchase of equipment and machinery
- Leasehold improvements
- Marketing and advertising costs
- Training and development programs
- Research and development activities
Use of Funds:
- Funds cannot be used for debt repayment
- Funds cannot be used for personal expenses
- Funds cannot be used for non-business-related activities
Fees:
- No application fees
- No processing fees
- No hidden charges
Qualifications
- Must be located in the Columbia Basin region.
- Must be an entrepreneur or business owner.
- Must be seeking access to resources, mentorship, and skilled advice.
Must be aiming to foster economic capacity and growth in the region.
Disqualifications:
- Businesses located outside the Columbia Basin region.
Description
This program offers your business a great opportunity to grow. You can receive up to $1,000,000 in funding. This money can be used for various purposes, such as buying new equipment or improving your workspace.
You can use the funds for:
- Purchasing commercial kitchen appliances
- Acquiring manufacturing machinery
- Upgrading computers and IT infrastructure
- Renovating retail spaces
Additionally, you can get up to $150,000 for costs like software or other operational expenses to keep your business running smoothly.
The federal government guarantees 85% of the loan, providing a significant safety net for you. This loan program is flexible. If you have made significant purchases in the last 365 days that fall within the program guidelines, you can include them in this loan.
You have multiple options for repayment. You can choose a variable interest rate, a fixed one, or even combine your loan amount and interest into blended payments. You have up to 15 years to pay back the loan, regardless of what you spend it on.
Program Steps
Gather Required Documentation:
- Business Plan
- Financial Statements (last two years)
- Tax Returns (last two years)
- Proof of Business Registration
- Identification Documents (e.g., driver's license, passport)
- Any relevant permits or licenses
Complete the Application Form:
- Fill out the application form with accurate information about your business.
- Provide detailed descriptions of how the program will benefit your business.
Submit the Application:
- Submit the completed application form along with all required documentation.
- Ensure all documents are clear and legible.
Attend an Interview or Consultation (if required):
- Be prepared to discuss your business plan and how the program will support your business goals.
- Answer any questions the program administrators may have.
Await Approval:
- Wait for the program administrators to review your application.
- Be available to provide any additional information if requested.
Receive Approval and Funds:
- Upon approval, review the terms and conditions of the program.
- Sign any necessary agreements.
- Receive the funds or resources allocated to your business.
Implement the Program Benefits:
- Use the funds or resources as outlined in your application.
- Keep records of how the program benefits are utilized.
Report on Progress (if required):
- Submit progress reports or updates as required by the program.
- Provide evidence of how the program has impacted your business.