Ottawa Community Loan Fund – Small Business Loans


Ottawa Community Loan Fund (OCLF) offers eligible applicants support including business plan and cash-flow development when they apply for the Alterna Savings micro-finance program. The program provides loans of up to $ 15,000 to small and developing business.

Comments on Funding:

  1. Funding is a loan of up to $15,000.
  2. Interest rates on the loans are usually current bank prime rate plus 2% to 6% max.
  3. Loan repayment terms normally range from 12 to 60 months.
  4. Upon approval of a new loan, OCLF will charge a one-time due diligence fee of 3% of the value of the loan, up to a maximum of $250.


Applicants must:

  • be 18 years or older;
  • live in the City of Ottawa and have permanent legal status in Canada;
  • own no less than 51% of the business in the case of the corporation and have the signature of all the shareholders; in the case of a partnership all partners must be willing to co-sign for the loan; in the case of a non-profit, the President and two officers with signing authority will make an application to OCLF and in the case of a co-operative, all members will make application to OCLF;
  • demonstrate an ability and commitment to repay the loan as confirmed by credit checks and references;
  • have been discharged from bankruptcy for at least 2 years, as confirmed by a credit check, if applicable;
  • agree that OCLF will be the first secured party for existing equipment and vehicles that may be pledged as security for the loan;
  • have no outstanding debts on which there are payment defaults;
  • submit a business plan including start-up costs and a monthly cash-flow projection for the next two years. In the case of an expansion of an existing business, financial statements will be required;
  • have businesses:
    a) located in or around Ottawa;
    b) legally registered or in to be registered as sole proprietorships, partnerships, corporations or co-operatives.
  • use the funds to start or expand business operations.
  • not be using the funds to consolidate debt.

Applications Steps:

Applicants must fill out the online contact form if they are ready to apply.

Documentation Needed:

Applicants must provide the following requirements:

  1. Proof of identity (driver’s license, passport or similar photo identity document);
  2. Business plan including a two-year cash-flow projection;
  3. Two References (business or academic contacts only);
  4. A current resume;
  5. If applicable, provide business registration document.

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