Rural Women in Business Loans

By mmuise

The Wellington Waterloo Community Futures provides rural women in business loans that help with startup funds or expansion plans. The maximum loan size is $250,000.00 to be used for the purchase of fixed assets, leasehold improvements, inventory, expansion, start-up or working capital or a combination of any along with some consolidation.

Comments on Funding:

Funding is up to $250,000.

Loan terms and conditions:
1. The loans have very flexible amortization and repayment terms.
2. There are no prepayment penalties.
3. A $500 fee will be charged on approved loans to cover administration costs such as registering security and bookkeeping review.
4. Applicants are responsible for all legal costs to complete the loan securitization package. These funds can be paid for from the proceeds of the funds to be borrowed.

Deadline: Continuous Intake

Applicants must:

  • be women entrepreneurs who want to start or grow their businesses (business structure: sole proprietor, partnership, incorporation);
  • have their business in Wellington County or Waterloo Region, in the areas served by Wellington Waterloo Community Futures ( );
  • have a strong business plan.
Application Steps:

Applicants must:

1. download the Application Form and Business Plan Template;

2. submit a completed Business Plan & Business Loan Application; 3. discuss with a loan manager to clarify points in business plan or application as needed;

4. sign the Letter of Offer and return it to the Wellington-Waterloo CF, if approved. Funds are normally made available within 2 – 3 weeks after the signed Letter of Offer is returned to the Wellington-Waterloo CF.

Documentation Needed:

Applicants must submit:
1. a Business Plan & Business Loan Application;
2. an up to date resume which includes work history, educational background and refers to any transferable skills the business owner has;
3. Personal Financial Statement for each partner/shareholder;
4. copy of their Business Registration and/or Articles of Incorporation;
5. copy of their Income Tax Return;
6. copy of Birth Certificates for each partner/shareholder;
7. other supporting documents, such as:
a) partnership agreement;
b) letters of intent from customers;
c) existing contracts;
d) letters with terms of purchase from suppliers;
e) promotional literature;
f) photographs of product or location.

Other Things to Note:


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