Alberta Women’s Economic Recovery: Capital Growth Initiative Loan

By mmuise
Description:

The Community Futures Alberta provide flexible low-interest small business loans, ongoing support and advice for women entrepreneurs in rural Alberta. Women entrepreneurs will be able to apply for unsecured conditionally repayable loans ranging from $10,000 to $75,000.


Comments on Funding:

Funding takes the form of loans ranging from $10,000 - $75,000.

Loan terms and fees:
1. Interest Rate of Prime + 2% for a 5-year term;
2. 6 months interest-only payments at the start of loan;
3. Forgivable 25% portion of loan amount if 75% is repaid within the 5-year loan term;
4. Flexible opportunities to manage loan repayments;
5. No penalties for early repayment and/or lump-sum payments.

Deadline: Continuous Intake
Eligibility:

The applicant must:

  • be a 50.1% women-owned small or medium-sized business that is registered and located in Alberta;
  • reside in the province of Alberta;
  • be a Canadian Citizen or Permanent Resident;

    As per the Terms and Conditions of the Community Futures Program, SMEs are defined as having less than 500 employees and annual sales revenue of less than $20 million, and produce goods and services for the market economy, regardless of their business structure (e.g. sole proprietorships, social enterprises, cooperatives, etc.).
Application Steps:

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Documentation Needed:

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Other Things to Note:

If your business is located in the urban or metropolitan areas of Calgary, Edmonton, St. Albert or Fort Saskatchewan, please visit our partner organization: Alberta Women Entrepreneurs - Capital Growth Initiative Loan.

About the author
mmuise