Business Loans

Through Government of Canada funding, CFDCs administer local investment funds to help finance new or existing small businesses and social enterprises for start-up, expansion or stabilization plans that help maintain or create jobs.

Repayable financing of up to $250,000 is available when financing from other sources is insufficient. All CFDC financing decisions are made at the community level by the local boards of directors.

All loan applicants must apply with a business plan, cash flow projections and financial statements.

Contact us if you feel that you have a strong business idea and business plan either for a new business or the expansion of a current business. Our General Manager and / or our Business Coach will work with you, determining the feasibility of the plan and explore all possible alternatives that are open to you.

We support loans for: Rural Women in Business, Business Succession, Small Farm Enterprise, Micro Enterprise, Community Improvement Plans, Innovation, Not-for-Profit Social Enterprise, Newcomer Business and Youth Business.

For more information, please contact Paul Nichol, General Manager or apply for a loan with Tina Heathers, Lending Consultant.

Next Steps?

Contact Tina for more information or apply for a business loan now!

* Apply for a Loan

* The Business Loan Application Process Step-by-Step

Applicant completes the online application and uploads their completed Business Plan, past financial statements, 12-month cashflow projection and two pieces of ID.
Documentation is reviewed by the Lending Consultant.
Lending Consultant and applicant have discussions to clarify points in business plan or application as needed.
If it is recommended to the Community Futures Huron Board of Directors for approval, Community Futures Huron will complete a credit check.
Application is presented to the Community Futures Huron Board of Directors for approval.
If approved, a Letter of Offer is extended to the applicant for signature and return to Community Futures Huron.
Funds are normally made available within 2 weeks after the Letter of Offer is returned to Community Futures Huron.

Costs

There is a 2% loan development and maintenance fee (to a maximum of $2,000) that is paid up front after the loan is approved.
Applicants are responsible for all legal costs to complete the loan securitization package. These funds can be paid for from the proceeds of the funds to be borrowed.

Loan Information

Maximum loan size is $250,000.00 to be used for the purchase of fixed assets, leasehold improvements, inventory, expansion, start-up or working capital or a combination of any along with some consolidation.
Flexible repayment terms and no prepayment penalties.

Need Help?

If you get stuck in the application, just contact Tina, and she’ll help to get you on track.

Facade Improvement Loans

Community Futures Huron Facade Improvement Loans are designed to correspond with business investments leveraged by municipal Community Improvement Plans.

Innovation Loans

Are YOU an innovator? Do you think out of the box? Innovation is a buzz word and touchstone for most, if not all federal and provincial business development programs.

Micro Enterprise Loans

Offered by Community Futures Huron, micro enterprise loans are available to Huron County based entrepreneurs. What’s a micro enterprise?

Small Farm Loans

Thinking about a smaller farming operation? We can help with a Small Farm Loan of up to $250,000.

Not-For-Profit Social Enterprise Loans

Community Futures Huron has been an active proponent of not-for-profit social enterprise for years, reaching back to successful initiatives like the Rural Social Enterprise Constellation.

Succession Loans

It is estimated that over 2,000 Huron County business owners will retire over the next decade. The question becomes: Who will take these businesses over?

Youth Business Loans

CF Huron believes in the importance of priming a pipeline for new entrepreneurs in the area so we are happy to provide these youth loans for ages 15 to 29.

Rural Women in Business Loans

CF Huron helps Women Entrepreneurs follow their dreams of small business ownership by providing Rural Women in Business Loans to assist with new business startup or expansion plans.