Business Loan

Valley Heartland CFDC administers a Community Loan Fund, a local investment fund to help finance new or existing small businesses for start-up, expansion or stabilization plans that help maintain or create jobs.

We administer a LOCAL INVESTMENT fund to help finance business start up, stabilization and expansion in Lanark County and North Leeds.  Our‍‍‍ repayable financing is available when other sources is insufficient or unavailable and we’ll work collaboratively with banks to find financing solutions for LOCAL ENTREPRENEURS.

Contact us to learn more about applying for Loan Assistance or download a copy of our Application for Financing, please see below. Like any application for a business loan, a certain amount of detail will be necessary both on the application and through supporting documents. In order for an application to be considered, it must be completed fully, signed and accompanied by the following:

Loans Programs

Standard Loan:

We offer qualified applicants loans up to $250,000 for a variety of purposes, often supporting multiple goals.

Maximum Loan Amount: $250,000

Deadline: Continuous intake,  reviewed monthly  ‍‍‍

Micro Loan:

We offer qualified applicants, whether you are a new entrepreneur, or an existing business fast turn-around financing through our micro-loans program.

Maximum Loan Amount: $15,000

Deadline: Continuous intake‍‍‍, decision within 5 business days

Line of Credit:

Enable recipients to draw on the value of the loan in blocks up to a set limit. Lines of credit are reviewed and renewed annually, with the interest rate being fixed for one (1) year. Interest only payments are to be paid monthly, with principal due on demand.

Maximum Amount: $250,000

Deadline: Continuous intake, reviewed monthly  ‍‍‍

Loan for Women:

Designed to advance women’s entrepreneurship in our Region. Successful applicants receive free unlimited attendance for one (1) person, to all Valley Heartland and five (5) Small Busines‍‍‍s Advisory Center workshops during the first year of their loan.

Maximum Loan Amount: $250,000

Deadline: Continuous intake, reviewed monthly

Loan for Youth:

Designed to advance youth entrepreneurship in our Region. Applicants must be between the ages of 18 and 30 at the time of the application and provide a viable Business Plan. Successful applicants receive free unlimited attendance for one (1) person, to all Valley Heartland and five (5) Small Business Advisory Center workshops during the first year of their loan.

Maximum Loan Amount: $25,000

Deadline: Continuous intake, reviewed monthly‍‍‍

Loan for Social Enterprise:

Offered at a reduced interest rate and designed to empower not-for-profit organizations to create or expand sustainable Social Enterprises. Loans must be for specific growth strategies and not emergency stop-gap measures.

Maximum Loan Amount: $250,000

Deadline: Continuous intake,  reviewed monthly  ‍‍‍

 

Business Improvement Program (BIP):

BIP assists local businesses and social enterprises with physical improvements to existing facilities to stimulate business growth and further long-term development. The applicant must be the registered owner of the property or a tenant with the written permission of the registered owner of the property. These loan are ideal for matching funds in order to apply to Municipal Community Improvement Project Grants.

Maximum Loan Amount: $250,000

Deadline: Continuous intake, reviewed monthly

 

All Applicants:

The business applying for financing must also meet the following criteria:

  • The business must be located within our service area of the County of Lanark or North Leeds.
  • The financing should be used for the ultimate purpose of job creation or job maintenance.

For more information please contact Loans Officer Mary Boldt 613-283-7002 x 105

Save

Save

Save

Save

Save