Community Futures Wood Buffalo Capital Growth Initiative
$75,000.00
In-Kind Support, Loan
Description:
Community Futures Wood Buffalo provides ongoing support, advice, and access to low-interest loans designed specifically for women entrepreneurs, and offering flexible repayments options and forgivable loan portions if conditions are met.
Comments on Funding:
Funding is a loan starting from $10,000 up to $75,000:
– Interest Rate of Prime + 2% for a 5-year term;
– 6 months interest-only payments at the start of loan;
– Forgivable 25% portion of loan amount if 75% is repaid within the 5-year loan term;
– Flexible opportunities to manage loan repayments;
– No penalties for early repayment and/or lump-sum payments.
Continuous Intake
Eligibility:
Applicants must:
1. be a 50.1% women-owned small or medium-sized business that is registered and located in Alberta;
2. reside in the province of Alberta;
3. be a Canadian Citizen or Permanent Resident;
4. 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:
Applicants must:
1. submit an Eligibility Assessment;
2. complete the Loan Application;
3. be notified of the decision.
Documentation Needed:
Applicants must provide documents to confirm their identity, credit history, and other information as requested.
Other Things to Note:
About the author
Maurice
