Community Futures Sun Country Micro-Loan

Amount:

$15,000.00

Type:

Loan

Description:

Community Futures Sun Country offers Micro-loans up to $15,000. As with all its loan, micro loan clients get assistance from our business advisors who provide guidance and resources to help start and grow a business.

Comments on Funding:

Funding is a loan of up to $15,000:
– Interest rates are competitive;
– Maximum amortization/term 48 months;
– One-time, non-refundable 1% administration fee will be appended to all
approved loan applications with a minimum of $50.

Deadline:

Continuous Intake

Eligibility:

Applicants must:
1. be 19 years or older. If the applicant is under 19 years old, CFSC may require a cosigner that is 19 years of age or older;
2. be a resident of the Sun Country service area;
3. be legally entitled to work in Canada;
4. have a business number.

Application Steps:

Applicants must complete the Micro Loan Application Form.

Documentation Needed:

Applicants must provide:
1. completed Application Form and either a business plan or complete the Micro-Loan Business Plan Overview;
2. Government issued picture ID (front and back);
3. a valid business license or approval to operate from the municipal or regional government (when required);
4. Credit Check on owner(s) and business;
5. Personal Guarantees / Co-Borrower and General Security Agreement. In case of not for profit
organizations or incorporated companies, an authorized director must sign on its behalf.

Other Things to Note:

Maurice

About the author

Maurice

Maurice (Moe) Muise learned the ins-and-outs of government while an employee of the Government of Canada in Ottawa for 10 years. His current focus is helping small businesses in Canada to identify and maximize funding to grow their business.

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