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photo2Investment in Small Business

South Temiskaming Community Futures Development Corporation is actively involved in the development of small businesses in the South Temiskaming area. As a Community Futures Development Corporation, South Temiskaming Community Futures Development Corporation provides loans, loan guarantees and equity investments to new or existing businesses that have viable business plans, demonstrate personal commitment, help maintain or create jobs, and cannot obtain sufficient financing from other sources. Our investments are not considered as grants and they are repayable. The recipient is responsible for the repayment of all the funds disbursed.

Our Investment Review Committee makes all financing decisions at the community level.

Eligible applicants must demonstrate a commitment to help create and/or maintain jobs and that all other funding sources have been contacted before developing their investment request application. Our staff can assist you in the preparation of a financing request.

Assessment of applications is based on:

  • The business plan (CFDC staff can provide advice);
  • Personal contribution of time, money and skills;
  • Experience of the people involved in the business;
  • Other lenders who invest;
  • Security;
  • Ability to repay the investment;
  • Job creation/maintenance in the community.

The following information is normally required to help assess the request for funds:

  • An up-to-date business plan;
  • Financial statements (for at least two years, if available);
  • Forecasted financial statements;
  • Market and competitive analysis;
  • Proof of citizenship.

Please note that these requirements are not limited as to what is described above. South Temiskaming Community Futures Development Corporation reserves the right to require additional information to properly assess a request for funding.

The minimum interest rate is never lower than what a conventional financial institution would charge on a similar deal as described in the Small Business Financing Act. The interest rate is assessed based on the client’s ability to manage the business, the amount of the funds requested and the overall risk of the proposal.

The total amount of funds approved will not exceed $150,000, unless approved by Industry Canada/FedNor.