Community Futures Oxford – Futureoxford Legacy Fund – Community Development Support (2021)

Description:

This component provides non-repayable contributions to not-for-profit projects. The contribution is designed to explore and develop new and sustainable community opportunities that contribute to the Future Oxford Community Sustainability Plan. The goal is to enhance capacity that improves the quality of life for Oxford’s current and future generations and to balance Oxford’s collective economic, social and environmental interests.

Comments on Funding:

Funding will take the form of a grant and Community Futures Oxford’s funding will not normally exceed 50% of the total project costs.

The maximum level of total government funding (federal, provincial, and municipal funding) for projects must not exceed 85% of total project costs.

The minimum 15% non-government contribution to a project can be cash, in-kind support from the applicant’s organization or from other sources of funding, or a combination of both. In-kind support means contributions other than monetary which defray a portion of the project’s eligible costs.

Eligibility:

Applicants must be

  • community organizations;
  • not-for-profit organizations;
  • co-operatives;
  • social service institutions;
  • municipalities.
  • be involved in not-for-profit projects that contribute to the Future Oxford Community Sustainability Plan;
  • propose a project that all into one (or more) of the following:
  • Youth Initiatives;
  • Tourism Growth and Promotion in Oxford County;
  • Development of Volunteers (capacity building);
  • Social and Cultural Development;
  • Innovation and Technology;
  • Skills Development;
  • Social Enterprise Development.

Project eligibility criteria:

  • Project is innovative and encourages new projects/economic development within Oxford County.
  • Project is cost-shared and has community support.
  • The project should demonstrate self-sufficiency over time.
  •  Project applicant demonstrates ability to carry out the project and to achieve proposed outcomes.

Applications Steps:

Applicants must:

Completed Business Loan Application along with the business plan will be reviewed by the General Manager. Eligible proposals will be submitted to Community Futures Oxford’s loan review committee to determine whether the loan will be recommended for approval. Approved applications must receive final authorization from Community Futures Oxford’s Board of Directors and applicants will be notified following the Board meeting of the decision regarding their application.

Documentation Needed:

Applicants must submit a completed application package including:

  1. the Business Loan Application;
  2. a business plan describing the new business, expansion, purchase or restructuring plans. The business plan should also include at minimum a 2-year Profit and Loss forecast and Cash Flow (if applicable). Any format is acceptable as long as it clearly explains how the business will succeed.
  3. the last 3 years financials of the business, if an existing business.
  4. a Personal Statement of Net Worth (PSONW) form for each owner or shareholder.

Other Things to Note:

Applicants should contact Community Futures Oxford for further details.

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