LAMBAC Community Futures Development Corporation Standard Loan
no fixed amount
Loan
Description:
LAMBAC CFDC offers a Standard Loan to an existing small business owner wanting to expand their business or an entrepreneur wanting to start a business in the LaCloche Manitoulin region.
Comments on Funding:
Funding takes the form of a loan.
Continuous Intake
Eligibility:
Applicants must:
1. be new businesses;
2. be existing businesses;
3. be in any of these legal structure:
a) Corporation;
b) Partnership;
c) Proprietorship;
d)Other business structure.
4. be located in LaCloche Manitoulin region.
Application Steps:
Applicants must submit the completed loan application to LAMBAC two weeks before that month’s meeting in order to be circulated to the Board of Directors with sufficient time for them to review before they make a decision.
Documentation Needed:
Applicants must provide:
1. a completed loan application form,
2. business plan, and
3. other information as requested.
For existing businesses:
1. Municipal Tax Certificate showing taxes are current;
2. Proof of Payment of government remittances;
3. Statement showing GST is current;
4. Statement showing PST is current.
Other Things to Note:
About the author
Maurice
