Community Futures Sun Country Micro-Loan
$15,000.00
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.
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:
About the author
Maurice