Our mandate is to assist in the creation of new businesses and expanding or modernizing existing businesses by providing management training, business advice and loans up to $150,000.
Technical assistance usually takes form of guidance and coaching, and sometimes advocating on behalf of our clients to other lending establishments or regulatory agencies.
- For new ventures and business maintenance or expansion
- Loans up to $150,000 per project in house; Community Futures can partner with other institutions to access more capital for clients needing higher funding
- Projects should indicate a potential for community economic benefit and individual commercial viability.
The regular loan fund is available for investing in new and existing small businesses to a maximum of $150,000. These funds are repayable by the client and are considered available as an alternative to traditional lending sources.
- Loan application flat fee of $75.00
- Prior Bankruptcy- Applicants with prior bankruptcy must be discharged for a minimum of three years before applications can be considered for business financing.
- Interest rates are comparable to traditional sources. Security and terms are negotiable to a maximum of 10 years.
- For persons with disabilities seeking entrepreneurial opportunities
- Loans with flexible terms, designed for a client's specific needs
- One-on-one assistance, counseling, mentoring and business planning, training and development.
The disability loan fund follows the same guidelines as the regular with the exception of two points. The first is that the interest rate is lower and the second is that the advances are only available to individuals with a disability who are starting or expanding a small business.
Community Futures Wood Buffalo partners with the Canadian Youth Business Foundation to provide youth, age 18-34, who have a great business idea and require financing, mentoring and the right business resources to start a business.
Interested clients can access a CYBF access code from Community Futures and can get start on their business application.