Loan Guarantees & Equity Participations

By mmuise
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.

Deadline: Continuous Intake
Eligibility:

Applicants must be:

  • businesses in the Nord-Aski REDC's service area;
  • 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
mmuise