Amount:

$20,000

Type of Program:

Loan


Description:

The Emergency Business Sustainability Loans supports rural businesses within Bruce County get through the financial challenges brought on by the COVID-19 pandemic.

Comments on Funding:

Funding is up to $20,000.

Loan terms and conditions:

  1. 1
    2.5% interest;
  2. 2
    no payment required for six months;
  3. 3
    repayment over 5 years with flexible repayment terms and no prepayment penalties;
  4. 4
    loans to be used for cash flow and working capital.

When It Ends:

Ongoing

Deadline:

Rolling Deadline

Eligibility:

Applicant must:

  • be rural businesses within Bruce County; 
  • be established prior to March 1, 2020;
  • be impacted adversely by the COVID-19 pandemic;
  • sign an owner's personal guarantee.

Applications Steps:

1

complete, sign, and scan the the Application along with a) prior year and b) year to date financial statements (in house is fine);

2

email all documents to bfisher@bmts.com and reference the business name in the subject line of the email.

Documentation Needed:

Applicants must provide:

  1. 1
    a completed loan application;
  2. 2
    prior year and year to date financial statements;
  3. 3
    a copy of the Master Business License or Incorporation papers;
  4. 4
    Statement of Personal Liabilities and Assets for any Guarantor;
  5. 5
    copy of Birth Certificate;
  6. 6
    copy of Driver’s Licence.

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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