Community Futures Treaty Seven — Lending Services
Highlights
This program is designed specifically for businesses like yours, owned by Treaty Seven Members. It offers up to $25,000 in financing to help you establish or expand your business. This loan can be a game-changer, providing the funds you need to grow and succeed.
Why Apply?
- Affordable Financing: Only 10% equity required, or proof of sweat equity.
- Community Support: Loans available for businesses on and off reserve.
- Expert Assistance: A Business Analyst will help complete your loan application.
What's in it for You?
- Viable Business Plans: Only businesses with strong potential for revenue generation are approved.
- Employment Growth: Your business will contribute to long-term, full-time employment for Treaty Seven Members.
- Easier Qualification: If traditional financial institutions have declined you, this program offers a second chance.
By getting approved, you can secure the funds needed to take your business to the next level. The application process is straightforward, with support available every step of the way.
Financing Details
Type of Financing: Loan
Loan Details:
- Maximum Loan Amount: $25,000 per business.
- Equity Requirement: 10% equity or proof of sweat equity.
- Interest Rate: Not specified.
- Repayment Term: Not specified.
Eligible Expenses:
- Establishing a new business.
- Expanding an existing business.
- Business must be at least 51% owned by Treaty Seven Members.
- Businesses located on and off reserve.
- Business plans must be viable and capable of generating enough revenue to repay the loan.
Ineligible Expenses:
- Agriculture loans (ranching & farming) are not provided.
Additional Requirements:
- Community support through a Band Council Resolution (on reserve only).
- Proof of decline from a traditional financial institution.
- Business Analyst will complete the loan application upon receipt of all necessary documents.
Fees:
- No specific fees mentioned.
Qualifications
- Business must be at least 51% owned by Treaty Seven Members.
- Maximum loan per business is $25,000.00.
- All loans require equity of 10% (or proof of sweat equity).
- Loans provided to businesses located on and off reserve.
- All loans require community support through a Band Council Resolution (on reserve only).
- Only viable business plans will be approved (the business must prove that it can generate enough revenue to repay the loan).
- Business mandate to increase long-term, full-time employment for Treaty Seven Members.
Must provide proof of decline from traditional financial institution.
Disqualifications:
- Agriculture loans (ranching & farming) not provided.
Description
This program offers your business a chance to borrow up to $25,000. You can use this money to start or expand your business. The loan can help you buy equipment, hire staff, or cover other business expenses.
You need to provide 10% equity, which can be in cash or sweat equity. This shows your commitment to the business. The loan is available for businesses both on and off reserve, but you will need community support through a Band Council Resolution if your business is on reserve.
To get the loan, your business plan must show that it can generate enough revenue to repay the loan. The goal is to create long-term, full-time jobs for Treaty Seven Members. This program is a great opportunity to grow your business and contribute to your community.
Program Steps
Gather Required Documentation:
- Proof of Treaty Seven Membership (51% ownership)
- Business Plan (demonstrating viability and revenue generation)
- Proof of Decline from Traditional Financial Institution
- Equity Proof (10% equity or sweat equity)
- Band Council Resolution (for businesses on reserve)
- Community Support Documentation
Prepare Business Plan:
- Ensure it demonstrates the ability to generate enough revenue to repay the loan.
- Highlight how the business will increase long-term, full-time employment for Treaty Seven Members.
Contact Business Analyst:
- Reach out to the Business Analyst to discuss your business and the loan application process.
- Provide all gathered documentation to the Business Analyst.
Review Loan Terms:
- Understand the maximum loan amount ($25,000.00).
- Review the requirement for equity (10% or sweat equity).
- Confirm that the business is not related to agriculture (ranching & farming).
Submit Application:
- The Business Analyst will complete the loan application upon receipt of all necessary documents.
Loan Application Review:
- The application will be reviewed for viability.
- Credit checks and ratios analysis will be completed.
- Recommendations will be made to the Investment Review Committee and Board for approval.
Approval and Loan Disbursement:
- Upon approval, discuss the final loan terms.
- Once agreed upon, the loan funds will be disbursed to your business.