Amount:

$250,000

Type of Program:

Loan & Investment


Description:

1000 Islands Community Development Corporation's Business Financing program provides commercial loans up to $250,000 to new or existing businesses in South Leeds when financing from more traditional sources is unavailable or insufficient. Funding is available for start-up, expansion or stabilization plans that help maintain or create jobs.

Comments on Funding:

Financing will take the form of commercial loans of up to $250,000.

Loan terms and conditions:
- loan rates are indicative of risk, as assessed at our sole discretion, and typically range from a minimum of prime rate + 2% to prime rate + 5% (or higher according to risk).
- loans often require security.


When It Ends:

Ongoing

Deadline:

Rolling deadline

Eligibility:

Applicant must:

  • be new or existing businesses in the 1000 Islands Region;
  • have exhausted all other avenues of financing;
  • use financing for the ultimate purpose of job creation or maintenance.

Applications Steps:

1

Applicants must submit the fully completed and signed online application form and all the supporting documents.

Documentation Needed:

Applicants must submit:

  1. 1
    personal financial statement (pdf);
  2. 2
    business plan (pdf);
  3. 3
    cash flow projection;
  4. 4
    financial statements;
  5. 5
    copy of business registration;
  6. 6
    copy of partnership agreement, if applicable;
  7. 7
    articles of incorporation, if applicable.

Other Things to Note:

1000 Islands Region includes:

  1. 1
    City of Brockville;
  2. 2
    Town of Gananoque;
  3. 3
     Township of Leeds & The Thousand Islands;
  4. 4
    Front of Yonge Township;
  5. 5
    Village of Athens;
  6. 6
    Elizabethtown-Kitley Township.

About the author 

Maurice

Maurice (Moe) Muise learned the ins-and-outs of government while an employee of the Government of Canada in Ottawa for 10 years. His current focus is helping small businesses in Ontario to identify and maximize government grants to grow their business.
Click here to learn more about Moe's background and how he can help your business.

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