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Community Futures Network of Canada

Up to $1,000,000,000
Type
LOANS AND CAPITAL INVESTMENTS
EXPERT ADVICE
Application Difficulty
MEDIUM
Time To Complete4 weeksProgram Budgetno cap
See If You Qualify

Highlights

Hello,

If your business is located in a rural community, there's a fantastic opportunity waiting for you. The Community Futures Program is here to offer financing and business support services tailored just for businesses like yours. Whether you're looking for a loan, expert advice, or a chance to connect with other businesses, this program is designed to support your growth. It's available across Canada and open to small businesses in all sectors, with no restrictions on the number of employees or revenue. This means your business can benefit, no matter its size.

What makes this program stand out? It offers flexible loans and capital investment options, making it easier for you to manage operations and plan for the future. Plus, you'll have access to partnering and collaboration opportunities and expert advice to help you navigate challenges and seize new opportunities. With the support of your local Community Futures organization, you can tap into resources often hard to find in rural areas. This is your chance to strengthen your business with the backing of a community-focused initiative.

Applying is straightforward, and the local board considers factors beyond what traditional banks might, leading to a faster and more efficient process. By being approved, you'll gain a partner in your business journey, helping you not just survive but thrive in your community. Don't miss out on this opportunity to grow and succeed with the support of the Community Futures Program.

Financing Details

Loan: The financing provided is in the form of a loan, specifically designed to support rural businesses that may require additional help to recover from the COVID-19 pandemic and have been unable to access existing support measures.

Repayment Terms and Interest Rates:

  • The loans are offered with flexible repayment terms to accommodate the unique challenges faced by rural businesses.
  • Interest rates are competitive and are designed to be affordable to small business owners.
  • Specific details regarding the duration of the loan and the interest rates can be obtained directly from your local Community Futures office, as they may vary by region and individual business circumstances.

Eligible Expenses:

  • The loan can be used towards a variety of business-related expenses including but not limited to operational costs, equipment purchases, and property improvements.
  • It aims to provide the necessary capital for businesses to maintain operations, expand services, or adapt to new market conditions.

Restrictions on Use of Funds:

  • The funds cannot be used for refinancing existing debts.
  • They are also not applicable for non-business related expenditures, ensuring that the financial aid is utilized strictly for business enhancement and sustainability.

Fees:

  • There may be minimal processing fees associated with the application for the loan.
  • It is advisable to check with the local Community Futures office for detailed information on any applicable fees.

Qualifications

  • Location Requirement: Your business must be located in a rural community within Canada.

  • Business Size: The program is targeted towards smaller employers and businesses.

  • Existing Support Measures: Your business should not have qualified for the recently announced wage subsidy or loans, or still requires assistance despite existing support measures.

  • COVID-19 Impact: The program is aimed at businesses that need help recovering from the financial impacts of the COVID-19 pandemic.

  • Community Futures Network: Your business should be able to work with the local Community Futures organization, which operates as an individual non-profit corporation with its own volunteer board of directors.

Description

If your business is in a rural community, there's a great opportunity for you. The Community Futures Program offers financing and business support services tailored to help businesses like yours thrive. Whether you need a loan, expert advice, or want to connect with other businesses, this program is designed to support your growth.

The program is available across Canada and is open to small businesses in all sectors. There's no limit on the number of employees or revenue, so your business can benefit regardless of its size. Flexible loans and capital investment options are available, making it easier for you to manage operations and plan for the future.

Additionally, the program provides partnering and collaboration opportunities and expert advice to help you navigate challenges and seize new opportunities. With the support of your local Community Futures organization, you can access resources that are often hard to find in rural areas. This is your chance to strengthen your business with the backing of a community-focused initiative.

Program Steps

  1. Contact Your Local Community Futures Organization
    Reach out to your nearest Community Futures office. They will guide you through the application process and provide specific details relevant to your area.

  2. Prepare the Required Documentation
    Gather the necessary documents to support your application. You will typically need:

    • A business plan outlining your goals and strategies
    • Financial statements for the past two years
    • Tax returns for the past two years
    • Identification documents (e.g., business registration, personal ID)
    • Any additional documents requested by your local Community Futures office
  3. Complete the Application Form
    Fill out the application form provided by your local Community Futures organization. Ensure all information is accurate and complete.

  4. Submit Your Application
    Send your completed application along with the required documentation to your local Community Futures office.

  5. Follow Up
    After submission, follow up with the organization to confirm receipt and inquire about the timeline for review.

  6. Prepare for an Interview (if required)
    Be ready to discuss your application in more detail. This may include explaining your business plan and how the funding will help your business grow.

  7. Receive Notification of Approval
    Wait for the decision on your application. If approved, you will receive details on the next steps and how to access your funding.

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