Type of Program:
Wakenagun CFDC’s Investment Fund - "A Helping Hand" Loan provides funding for business start up. Funding may be used for seasonal businesses, craft material purchases, minor capital items.
Comments on Funding:
Loan is up to $10,000.
A 10% cash equity is required.
Interest rate is equal to the prime rate published by the Bank of Canada at the time of application, plus an increase between 2-7% depending on the amount of risk determined.
The applicant will pay interest and other fees, if applicable. No repayment penalty is applicable.
Loan is repayable in 3 years.
When It Ends:
Applicants must submit:
Other Things to Note:
Wakenagun can provide financing up to a maximum of $150,000 from our Investment Fund in the form of a loan to start or expand a business with a well-documented business plan. These loans are non-forgivable.
The program guidelines are from 2016.