Columbia Basin Trust — Impact Investment Fund
Highlights
This program is designed for businesses like yours in the Columbia Basin Trust region. If you have a credible business opportunity but struggle to secure conventional financing, this fund can help. The Impact Investment Fund offers loans to support projects that provide significant positive and measurable community benefits.
Why apply?
- Access to financing: Get the funds you need when traditional lenders say no.
- Community impact: Your project will contribute to the well-being of your community.
- Flexible terms: Tailored repayment plans to suit your business needs.
What’s in it for you?
- Financial support: Secure a loan to grow your business.
- Positive community impact: Enhance your reputation and contribute to local development.
- Ease of qualification: If your business meets the criteria, you have a strong chance of approval.
By being approved, you can move forward with your business plans, knowing you have the financial backing to succeed. Contact your nearest Community Futures office to learn more and start your application.
Financing Details
Type of Financing: Loan
Repayment Terms:
- Interest Rate: Competitive interest rates based on current market conditions.
- Term Length: Flexible repayment terms up to 10 years.
- Repayment Schedule: Monthly payments of principal and interest.
Eligible Expenses:
- Purchase of equipment and machinery.
- Leasehold improvements.
- Working capital.
- Intangible assets such as patents and trademarks.
Ineligible Expenses:
- Personal expenses.
- Real estate purchases.
- Refinancing existing debts.
- Any non-business-related costs.
Fees:
- Application Fee: $150, non-refundable.
- Origination Fee: 1% of the loan amount, which can be financed as part of the loan.
- Late Payment Fee: 2% of the overdue amount.
Qualifications
- Must be a First Nations organization, social enterprise, non-profit, or business.
- Must be located in the Columbia Basin Trust region.
- Must have a credible investment opportunity with significant positive and measurable community impacts.
Must be able to repay the loan.
Disqualifications:
- Businesses that can secure conventional financing.
Description
This program offers your business a unique opportunity to secure a loan when conventional financing isn't an option. You can borrow funds to support credible investment opportunities that bring significant positive impacts to your community.
You can use the loan for:
- Expanding your business operations
- Purchasing new equipment
- Funding community-beneficial projects
The loan amount varies based on your needs and the potential community benefits of your project. Repayment terms are flexible, ensuring that your business can manage the loan comfortably.
This program is designed to help businesses like yours grow and contribute positively to the community. By participating, you gain access to necessary funds while also making a meaningful impact.
Program Steps
Review the Program Guide: Familiarize yourself with the program details and requirements by reviewing the Program Guide.
Prepare Documentation: Gather the necessary documents for your application. These typically include:
- Business plan
- Financial statements (balance sheet, income statement, cash flow statement)
- Proof of business registration
- Details of the investment opportunity
- Evidence of community impact
Contact Community Futures: Reach out to your nearest Community Futures office for guidance and to discuss your application. Use the contact information provided:
- Community Futures Central Kootenay: [email protected], 1.250.352.1933
- Community Futures East Kootenay: [email protected], 1.250.489.4356
- Community Futures Fraser Fort George: [email protected], 1.800.661.2055
- Community Futures South Kootenay: [email protected], 1.250.364.2595
- Community Futures Revelstoke: [email protected], 1.250.837.5345
Complete the Application Form: Fill out the application form provided by Community Futures. Ensure all sections are completed accurately.
Submit the Application: Submit your completed application form along with the required documentation to the Community Futures office you contacted.
Follow Up: After submission, follow up with the Community Futures office to confirm receipt and address any additional information they may require.
Review and Approval: Wait for the review process to be completed. If approved, discuss the loan terms, including interest rates, repayment schedule, and any associated fees.
Loan Disbursement: Upon approval and agreement on terms, the loan funds will be disbursed to your business for the intended investment opportunity.