Northumberland Community Futures Development Corporation (Northumberland CFDC) – DELIA (2022)

ByMaurice
  • This program is currently closed.

Description:

DELIA is an automated lending platform for women-owned and women-led innovation-driven enterprises located anywhere in Southern Ontario. Fast forward to today, with the support of Innovation, Science and Economic Development Canada (ISED Canada), DELIA is now available across all of Canada.

Comments on Funding:

Funding will take the form of loans of up to $15,000.
Applicants can request up to $50,000 for a DELIA Microloan. The amount approved will be based on NCFDC’s analysis of applicant’s request. Approved amounts are typically $15,000.

Eligibility:

Applicants must:

  • be Canadian citizen or a legal entity owned and controlled by a Canadian citizen, including:
    a) a sole proprietorship, an unincorporated business that is owned by one individual;
    b) a for-profit small Canadian business federally/provincially/territorially incorporated in Canada that is controlled directly or indirectly by one or more resident persons;
    c) a for-profit co-operative corporation incorporated under a federal, provincial or territorial co-operative Act, or;
    d) a social enterprise that earns revenue from the regular supply of personal property/goods and services and meets the profitability and equity criteria above;
  • be businesses over 50% Women-owned. In the case of a Sole Proprietorship, the Sole Proprietor is a woman. Further, the business is managed and controlled by one or more Women, where a Woman is a signatory of the business’s legal documents and financial accounts, and which is operated independently from businesses that are not owned by Women.
  • have and maintain:
    a) a valid and separate business bank account and satisfy basic liquidity requirements,
    b) a Business Number registered with the Canada Revenue Agency.
  • Individuals submitting loan applications must be:
    a) at least 19 years of age;
    b) a Canadian citizen or Permanent Resident;
    c) residing in Canada.

Not-for-profit organizations are not eligible for loans.

Applications Steps:

Documentation Needed:

Applicants should have handy for their online application the following:

  • scanned image file of your Passport or Driver’s License for identification;
  • Articles of Incorporation/Business Registration;
  • Business Bank Account online sign in information (username and password);
  • other online account sign in information (e.g. QuickBooks Online);
  • business performance metrics (e.g. income, expenses, gross margin calculation, etc.);
  • other documentation you may wish to include, such as a business plan (a concise document outlining major planning assumptions)

Other Things to Note:

  1. DELIA’s pilot project in 2019-2020 backed 42 companies with $675,000 in targeted microloans.
  2. Its goal is to ensure that by 2024, DELIA stands as a revolving and evergreen microloan fund for all Canadian Women entrepreneurs for start up, stabilization and expansion.

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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