Amount:
$250,000
Type of Program:
Loan
Description:
Wellington Waterloo Community Futures provides rural women in business loans that help with startup funds or expansion plans. The maximum loan size is $250,000.00 to be used for the purchase of fixed assets, leasehold improvements, inventory, expansion, start-up or working capital or a combination of any along with some consolidation.
Comments on Funding:
Funding is up to $250,000.
Loan terms and conditions:
- 1The loans have very flexible amortization and repayment terms.
- 2There are no prepayment penalties.
- 3A $250 fee will be charged on approved loans.
- 4Applicants are responsible for all legal costs to complete the loan securitization package. These funds can be paid for from the proceeds of the funds to be borrowed.
When It Ends:
Ongoing
Deadline:
Rolling deadline
Eligibility:
Applicant must:
Applications Steps:
Applicant must:
download the Application Form and Business Plan Template;
submit a completed Business Plan & Business Loan Application;
discuss with a loan manager to clarify points in business plan or application as needed;
sign the Letter of Offer and return it to the Wellington-Waterloo CF, if approved. Funds are normally made available within 2 – 3 weeks after the signed Letter of Offer is returned to the Wellington-Waterloo CF
Documentation Needed:
Applicants must submit:
- 1a Business Plan & Business Loan Application;
- 2an up to date resume which includes work history, educational background and refers to any transferable skills the business owner has;
- 3other supporting documents, such as:
