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!

* The Business Loan Application Process Step-by-Step

  1. Applicant completes the online application and uploads their completed Business Plan, past financial statements, 12-month cashflow projection and two pieces of ID.
  2. Documentation is reviewed by the Lending Consultant.
  3. Lending Consultant and applicant have discussions to clarify points in business plan or application as needed. 
  4. If it is recommended to the Community Futures Huron Board of Directors for approval, Community Futures Huron will complete a credit check.
  5. Application is presented to the Community Futures Huron Board of Directors for approval.
  6. If approved, a Letter of Offer is extended to the applicant for signature and return to Community Futures Huron. 
  7. 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.

Community Futures Huron is located at 435 Turnberry Street, Brussels, Ontario. Come see us in this new location.

Office hours are Tuesday to Friday from 10 am to 3 pm. Phone: (226) 889-8256; emailpnichol@cfhuron.ca.

Areas we serve: Howick, Wingham, Blyth, Brussels, Dungannon, Goderich, Clinton, Seaforth, Hensall, Zurich, Bayfield, Exeter.

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