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Community Futures Highwood provides financing to
entrepreneurs and existing business owners who are unable to obtain
conventional financing. Businesses financed by CFH must operate
in the CFH region .
Loan proposals are presented to the Investment Review Committee
(IRC) by CFH staff on the client's behalf. The process can take
30 - 120 days. The IRC is a sub-committee of the Board of Directors
and assesses proposals based on the following:
- Business viability
- Management expertise
- Owners equity and level of commitment
- Realistic financial projections
- Security available
- Jobs created or maintained
- Program criteria
|
Loans Program |
Eligibility Criteria |
Maximum Loan Amount |
Interest
Rate |
|
Student Business Loans |
Must be in or returning to study in
grades 9 to 12 or be enrolled to attend a post secondary
institution full-time
Client must be 14 to 29 years old |
Up to $3,000 |
Interest Free from May - October,
prime + 1% after October 31 |
|
Youth Loans |
29 Years and Under |
$25,000 |
Prime + 1% |
|
Entrepreneurs
with Disabilities Program (EDP) |
Self identified physical or
mentally disability |
$150,000 |
Prime + 5% |
|
General Loans
/ Agriculture Loans |
Turned down by a traditional
lender/bank
Should have 10% equity |
Normally up to $150,000 |
Prime* + 5% |
|
Community Business Initiative
Loan Program |
Enables existing business owners to
renovate and upgrade the exterior of the buildings and landscaping
to comply with municipal design guidelines or downtown
redevelopment program |
$25,000 |
Prime + 2% |
* The Bank of Canada prime rate is used to calculate
interest rates.
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