Two Rivers Community Development Centre Business Financing (2022)

ByMaurice
  • This program is currently closed.

Description:

Two Rivers Community Development Centre provides general business and operating loans to Aboriginal business.
Loans can be used for the purchase of buildings, equipment, and even the acquisition of an existing business, provided the transaction is at “arms length”. Operating lines of credit are also available to finance the working capital requirements of the business.

Comments on Funding:

Funding is up to $300,000.

Loan terms and conditions:

  • term loans and operating loans of up to $300,000;
  • fixed for term loans and fixed for 1 year period for operating loans;
  • interest rate: minimum of 8%. Interest rate will reflect the risk and repayment term of the proposal.

Eligibility:

Applicants must:

  • Be Aboriginal businesses (51% Aboriginal ownership or more),
  • Have at least 15% cash equity,
  • Be operating in Two Rivers, Ontario.

Applications Steps:

Documentation Needed:

The applicant must:

  • Submit a loan application, 
  • Submit a credit check on all proposed business owners
  • Provide a detailed business plan to follow the application, including a minimum of 3 years projected financial statements and identify all other potential business funders.

Other Things to Note:

Program no longer active at the beginning of 2021.

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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