Community Future Saskatchewan — Entrepreneurs with Disabilities Program
Highlights
This program is designed for business owners like you who have a disability or health condition. It offers up to $150,000 in repayable loans to help you start, buy, or grow your business. The funds can be used for various needs, including operating expenses, new equipment, and business expansions.
Why apply?
- One-on-one business consultation to discuss your specific needs.
- Business plan development assistance to ensure your business idea is viable.
- Access to valuable business resources through Community Futures organizations.
Being approved for this program means you get tailored support and financial backing, making it easier to achieve your business goals. The qualification process is straightforward, ensuring you can quickly access the resources you need.
Financing Details
Type of Financing: Loan
Repayment Terms and Interest Rates:
- Loans are repayable with a term of up to 5 years.
- Interest rates are competitive and fixed at 5% annually.
Eligible Expenses:
- Purchase of equipment and machinery.
- Leasehold improvements.
- Working capital to support daily operations.
- Intangible assets such as patents and trademarks.
Ineligible Expenses:
- Personal expenses.
- Real estate purchases.
- Refinancing existing debts.
Fees:
- Application fee of $100.
- No additional fees for document preparation or loan servicing.
Qualifications
- Must have a viable business idea.
Must have a self-declared disability or health condition.
Disqualifications:
- None specified in the provided context.
Description
This program offers up to $150,000 in loans to help your business grow. You can use this money for various purposes, such as buying equipment, expanding your operations, or improving your business space.
The loan is repayable, meaning you will need to pay it back over time. The terms are designed to be manageable, ensuring you can focus on growing your business without financial strain.
One-on-one business consultations are available to help you plan and make the best use of the loan. You will also have access to resources for creating a solid business plan, ensuring your business is set up for success.
Program Steps
Gather Required Documents: Collect the necessary documents for your application. This includes:
- Business Plan
- Financial Statements
- Proof of Disability or Health Condition
- Identification Documents
- Any other relevant business documentation
Prepare Your Business Plan: Develop a comprehensive business plan. This should outline your business idea, market analysis, financial projections, and how the loan will be used to start or expand your business.
Consult with a Business Advisor: Schedule a meeting with a business advisor from the Entrepreneurs with Disabilities Program (EDP). They can provide guidance on your business plan and help ensure your application is complete.
Complete the Application Form: Fill out the application form provided by the EDP. Make sure all sections are completed accurately and honestly.
Submit Your Application: Submit your completed application form along with all required documents to the EDP office. Ensure you keep copies of everything for your records.
Follow Up: After submission, follow up with the EDP office to confirm receipt of your application and inquire about the review process timeline.
Prepare for Additional Information Requests: Be ready to provide any additional information or clarification if requested by the EDP during the review process.
Review Loan Terms: If your application is approved, review the loan terms carefully. Understand the interest rate, repayment schedule, and any associated fees.
Sign the Loan Agreement: Once you agree to the terms, sign the loan agreement. Ensure you understand all the conditions before signing.
Receive Funds: After signing the agreement, the loan funds will be disbursed to you. Use these funds as outlined in your business plan to start or expand your business.