Renfrew County Community Futures Development Corporation (RCCFDC) Innovation Loan
$150,000.00
Loan
Description:
The Innovation Loan offers by Renfrew County CFDC is a loan package that helps entrepreneurs who are looking to develop new products or find new ways to offer existing products through innovation.
Comments on Funding:
Funding is a loan of up to $150,000:
– 5-year term,
– 15-year amortization,
– the minimum interest rate charged is charter bank prime + 2%.
Continuous Intake
Eligibility:
Applicants must:
1. be businesses;
2. seeking financing to develop new products or find new ways to offer existing products through innovation;
3. be located in the County of Renfrew.
Application Steps:
Applicants must:
1. click on the Loan Application button located at the top of the page to access the business loan application;
2. submit their completed application with the accompanying loan application fee;
3. supply any additional information requested.
Documentation Needed:
Applicants must provide:
1. Completed Loan Application;
2. Statement of Personal Assets and Liabilities;
3. Business Plan (in absence of a Business Plan, a business model canvas);
4. Cash Flow;
5. If purchasing land or building, a signed Offer to Purchase, conditional on financing;
6. A detailed listing of equipment and inventory to be purchased;
Loan Application Fee.
For existing businesses, please also attach:
1. The past 3 years’ financial statements and/or Revenue Canada
Statement of Business Activities (Form T2125)Revenue;
2. Canada Notice of Assessment (T2 for Corporations)Current HST Return for Registrants;
3. Confirmation that WSIB and Source Deduction payments are up-to-date;
4. Articles of Incorporation and/or Trade Name Registration.
Other Things to Note:
- All
- Clara and Maria
- East Region
- Hagarty and Richards
- Lyndoch and Raglan
- Non-profit Organization
- Ontario
- Product Development
- Town of Arnprior
- Town of Deep River
- Town of Laurentian Hills
- Town of Petawawa
- Town of Renfrew
- Township of Admaston/Bromley
- Township of Bonnechere Valley
- Township of Brudenell
- Township of Greater Madawaska
- Township of Head
- Township of Horton
- Township of Killaloe
- Township of Laurentian Valley
- Township of Madawaska Valley
- Township of McNab/Braeside
- Township of North Algona Wilberforce
- Township of Whitewater Region
- Working Capital
About the author
Maurice
