Goodwill Industries – Impact Loan
Description:
Impact Loan offers financing of up to $5,000 to local enterprises that want to start or grow their business.
Comments on Funding:
Funding is up to $5,000, with the option of an additional $5,000 Step-Up Loan after one year. The yearly interest rate is Libro Credit Union’s Prime Rate + 2%.
Eligibility:
The applicant must:
- be located in southwestern Ontario;
- have difficulty obtaining traditional bank financing.
Applications Steps:
The applicant must:
2
gather required documents and complete a formal application. A credit check will also be performed.
Documentation Needed:
Applicants must submit the following:
- financing application,
- business plan,
- their credit report,
- supporting documentation as required.
Other Things To Note:
Same status in January 2021, January 2022 and November 2022: Due to COVID-19, we are currently not taking any new applications until further notice.
When It Ends:
Ongoing
Deadline:
Rolling deadline