Community Futures Alberta — Financial Supports
Highlights
This program is designed for small business owners in rural Alberta who need financial support to grow their business. Whether you are starting a new venture, buying an existing business, or expanding into new markets, this program offers flexible loan options tailored to your needs.
Why Apply?
- Flexible Loan Criteria: We are known for saying "yes" when other lenders say "no."
- Competitive Interest Rates: No hidden fees or penalties, just a simple interest rate.
- Customized Support: Up to $150,000 in financing with personalized guidance and mentoring.
Benefits for Your Business
- Versatile Use of Funds: Loans can be used for starting a business, buying a franchise, investing in technology, or giving your business a facelift.
- Local Support: With 27 locations across rural Alberta, you have access to local advisors who understand your community and business needs.
- Easy Qualification: Our flexible criteria make it easier for you to qualify and get the support you need.
By applying, you gain access to financial resources and expert advice that can help your business thrive. Visit your local office to learn more and start your application process today.
Financing Details
Type of Financing: Loan
Repayment Terms and Interest Rates:
- Loans up to $150,000.
- Simple interest rate, competitive in today's market.
- No hidden fees or penalties.
Eligible Expenses:
- Starting a new business.
- Buying an existing business.
- Expanding into new markets.
- Opening a franchise.
- Investing in technology.
- Giving your business a facelift.
Ineligible Expenses:
- Funds cannot be used for personal expenses.
- Funds cannot be used for non-business-related activities.
Fees:
- No hidden fees.
- No penalties for early repayment.
Qualifications
- Must be a small business.
- Must be located in rural Alberta.
Can apply for loans up to $150,000.
Disqualifications:
- Businesses not located in rural Alberta.
Description
This program offers flexible business loans up to $150,000 for small businesses in rural Alberta. You can use the money for various purposes, such as:
- Starting a new business
- Buying an existing business
- Expanding into new markets
- Opening a franchise
- Investing in technology
- Renovating your business
There are no hidden fees or penalties. The interest rate is competitive, making it easier for you to manage your finances.
Our goal is to help you succeed. We offer customized loan options and are known for saying "yes" when other lenders say "no". This program is designed to meet you where you are and help your business grow.
Program Steps
Find Your Local Office: Locate the nearest Community Futures office in rural Alberta. You can find this information on their website or by contacting their main office.
Book an Appointment: Schedule a meeting with an advisor at your local office. This can be done via phone or through their online booking system.
Prepare Documentation: Gather the necessary documents to support your loan application. These typically include:
- Business Plan
- Financial Statements (past 2-3 years)
- Cash Flow Projections
- Personal Financial Statements
- Details of Intended Use of Funds (e.g., quotes for equipment, renovation costs)
Meet with Advisor: Attend the scheduled meeting with your advisor. Discuss your business needs and goals. The advisor will provide details on the available loan options and help you choose the best one for your business.
Complete Application: Fill out the loan application form provided by your advisor. Ensure all required fields are completed accurately and attach the prepared documentation.
Submit Application: Submit the completed application and all supporting documents to your local Community Futures office. This can usually be done in person or via email.
Attend Training Sessions (if applicable): Some loan programs may require you to attend business training sessions or workshops. Your advisor will inform you if this is necessary.
Application Review: The Community Futures office will review your application. They may contact you for additional information or clarification during this process.
Approval and Loan Agreement: If your application is approved, you will be notified and asked to review and sign the loan agreement. This will include details on the loan amount, interest rate, repayment schedule, and any other terms and conditions.
Receive Funds: Once the loan agreement is signed, the funds will be disbursed to your business account. You can then proceed with using the funds for the approved purposes, such as starting a new business, expanding, or investing in technology.