Micro Enterprise Loans

Offered by Community Futures Huron, micro enterprise loans are available to Huron County based entrepreneurs. What’s a micro enterprise? A micro enterprise is a business that operates on a very small scale, usually with a sole proprietor and less than 6 employees.

Modeled after the Rural Enterprise Loan Fund launched by WRED and local credit unions in the 1990s, micro‐loans provide an opportunity for clients to establish a credit history by operating small‐scale ventures that are often home‐based. Community Futures Huron clients can apply for up to $10,000 in micro enterprise funding.

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.