Comments on Funding:
Funding will take the form of loans of up to $15,000.
For approved DELIA loan recipients, additional lending solutions may be available in-house or by referral for amounts up to $250,000 or more.
Loan terms and conditions:
- interest rates starting at 0% and no more than Prime plus 2%;
- 12-24 month terms;
- no prepayment penalty;
- deferred payments in response to COVID-19;
- loan administration fee of 1.5%.
Academic institutions must:
- Advanced Manufacturing;
- Clean Technology;
- Digital Industries;
- Resources of the Future (forestry, water, etc.).
Innovative ventures are typically engaged in bringing valuable new products and processes to market that fill a gap or address a need in a way that is fundamentally different from the existing competition, representing a technological leap forward.
must submit their application online. At first, they will be taken to a rapid pre-screening portal to ensure they meet basic eligibility requirements (this portion does not effect their credit score) before proceeding to the fintech-driven lending platform powered by CORL (which will generate a credit enquiry). The credit application portion normally takes no longer than 20 minutes and sometimes as little as 5 minutes if applicants have all of their information ready.
will be instantly informed of their application status and a DELIA representative will contact them to finalize the lending process and disburse funds to successful applicants.
Applicants should have handy for their online application the following:
Other Things to Note:
Delia is a recently completed program that financed 52 women-owned and led businesses across Southern Ontario by developing an innovative new fintech product.