Business Financing
ONLINE LOAN APPLICATION PLEASE CLICK HERE
- General Loan Fund
- Entrepreneurs with Disabilities Program
- Youth Entrepreneur Program
- Frequently Asked Questions
General Loan Fund
In addition to providing excellent business counseling, Community Futures Lloydminster and Region can lend a maximum of $150,000 to new and existing businesses. We can also support project requiring more capital. Please contact a Business Analyst for more information. These loans are made available to community members with viable business ideas that are seen to contribute to the economic and social well being of their community, we also focus on projects that diversify our economy. Loans received from Community Futures Lloydminster and Region are fully repayable and are negotiated at competitive interest rates.
Loans can be used for:
- Starting or expanding a business
- Applying new technology to your business
- Upgrading facilities and equipment
- Developing marketing and promotions material
- Establishing working capital for anticipated sales increases
Entrepreneurs with Disabilities Program
This program is designed to make it easier for entrepreneurs with disabilities to pursue their business goals and contribute to economic growth within their rural community.
To qualify for the Entrepreneurs with Disabilities program you must:
- Live in the LloydminsterRegion
- Have a disability that impairs your ability to perform at least one of the basic activities of self-employment or entrepreneurship
The program offers:
- Assistance in developing a business plan
- Training through small business courses
- Business loans up to $125,000, the terms of which are specifically tailored to address each individual entrepreneur's needs and are repayable at competitive rates
Loans can be used for:
- Starting or expanding a business
- Applying new technology to your business
- Upgrading facilities and equipment
- Developing marketing and promotions material
- Establishing working capital for anticipated sales increases
Youth Entrepreneur Program
To qualify for a Youth Entrepreneur program you must:
- Have a creative, viable business idea or plan
- Be between 18 and 29 years old
- Live within the Communtiy Futures Lloydminster and Region.
- Assistance in developing a business plan
- Training through small business courses
- Access to a wealth of information about everything from export and trade, to selling to government markets, to accessing other loan programs and government business services
- Business loans of up to $25,000 the terms of which are specifically tailored to address each individual entrepreneur's needs and are repayable at competitive rates
- Starting or expanding a business
- Applying new technology to your business
- Upgrading facilities and equipment
- Developing marketing and promotions material
- Establishing working capital for anticipated sales increases
Frequently Asked Questions
Q: Do I need a down payment to borrow money from Community Futures Lloydminster and Region?
A: Each loan request is analyzed on its own merits. Therefore, the equity requirement to secure a loan with our office is flexible, depending on other factors pertaining to the loan request. Generally speaking, the more equity provided the better the chances are that the loan may be granted.
Q: How long does it take to get a loan through Community Futures Lloydminster and Region?
A: Once we have a completed application (all information required to make a decision) we strive to have confirmation within 10 working days.
Q: Are there any grants (i.e.. non-repayable loans) available for starting a small business?
A: Depending on the type of business you wish to start, there may be grants available. Check out the Canada Business website to find out if you may qualify.