Loan Guarantees & Equity Participations
no fixed amount
Investment, Loan Guarantee
Description:
Nord-Aski REDC provides loan guarantees and equity participation to area businesses who contribute to the creation and/or maintenance of long term employment in the communities it serves.
Comments on Funding:
No other details available.
Continuous Intake
Eligibility:
Applicants must be:
1. businesses in the Nord-Aski REDC’s service area;
2. businesses planning to locate, start or expand business operations within the boundaries of Nord-Aski REDC.
Application Steps:
Applicants must:
1. complete applications along with an original signature and submit it;
2. meet with a Business and Financial Analyst to discuss the application and the financing options.
Documentation Needed:
No specific documentation has been identified.
Other Things to Note:
1. Nord-Aski REDC promotes economic growth in four Northeastern Ontario municipalities and the Unincorporated Territories along Highways 11 and 631. The region covers approximately 25,900 square kilometers and it includes:
a) Constance Lake First Nation,
b) Town of Hearst,
c) Township of Hornepayne, and
d) Municipality of Mattice-Val Côté.
2. A FedNor investment of $455,000 will enable Nord-Aski to administers the Northeastern Ontario Investment Pool for a three-year period on behalf of the 13 partner CFDCs in the region. The Investment Pool provides term loans, patient capital and equity financing to qualifying small and medium-sized businesses in the region. This shared lending approach reduces the risk to participating CFDCs and allows them to support strategic and larger-scale projects by offering business financing up to a maximum of $500,000.
About the author
Maurice
