Comments on Funding:
- up to $750,000 for Term Loans, varying terms and regular interest rate;
- up to $10,000 for ReadyCash, varying terms and regular interest rate; (EXCLUDED/to remove: 12 month term, Prime + 2%;)
- up to $100,000 for FlexLine, varying terms and regular interest rate;
Applicant must be:
Applicants must submit a a cash flow forecast with their application. It’s also common that they will be asked to provide cash flow forecasts at regular intervals until their loan is paid in full.
Other Things to Note:
The NextGen loans no longer included under Small Business Loan products.
- Nord-Aski REDC promotes economic growth in four Northeastern Ontario municipalities and the Unincorporated Territories along Highways 11 and 631. The region covers approximately 25,900 square kilometers and it includes:
a) Constance Lake First Nation,
b) Town of Hearst,
c) Township of Hornepayne, and
d) Municipality of Mattice-Val Côté.
- A FedNor investment of $455,000 will enable Nord-Aski to administers the Northeastern Ontario Investment Pool for a three-year period on behalf of the 13 partner CFDCs in the region. The Investment Pool provides term loans, patient capital and equity financing to qualifying small and medium-sized businesses in the region. This shared lending approach reduces the risk to participating CFDCs and allows them to support strategic and larger-scale projects by offering business financing up to a maximum of $500,000.