How much funding can be received?

Funds up to 250000% of admissible expenses.

What is the deadline to apply?

The deadline to apply is not specified.

Who are the financial supporters of the Community Futures Program?

Community Futures Program is funded by Nventure

What are Community Futures Program's eligibility criterias?

The business must be located in Alderville First Nation or Northumberland County. Applicants must demonstrate a substantial local presence and address specific assessment criteria.

Community Futures Program

Last Update: February 28, 2025

ON, Canada

Provides business loans and support for economic development

Community Futures Program at a glance

Eligible Funding

Max. $250,000

Timeline

Continuous Intakes

Financing Type

Loans and Capital investments

Eligible Industries

Other services (except public administration)
Public administration

Grant Providers

Nventure

Status

Open

Overview of the Community Futures Program program

The Community Futures Program offers funding up to a maximum of $250,000 to support business start-up, stabilization, and expansion activities in Alderville First Nation or Northumberland County. Eligible activities include the purchase, upgrade, or renovation of commercial properties, although it does not provide non-repayable contributions.

Financing terms and conditions

All loans require some type of security, which may vary depending on the amount of the loan and its usage. Physical security may not always be necessary.
For incorporated businesses, all owners must sign a personal guarantee limited to the loan amount.
The maximum loan amount available through this program is $250,000.
There are no non-repayable contributions (grants) currently available through this program.
Flexible repayment terms are offered instead of operating lines of credit.
Nventure allows for partnerships with other financial institutions or the BDC for larger deals, particularly for commercial property related loans.

Eligible projects & activities

Providing financing for start-up businesses.
Business stabilization efforts.
Business expansion projects.
Purchase, upgrade, or renovation of commercial properties.

Examples of admissible projects:

$ 80,000

Implement eco-friendly packaging for local artisanal goods

$ 200,000

Develop an AI-driven financial advisory platform

$ 150,000

Create a cultural exchange program for artists

$ 250,000

Establish a tech incubator for startups in rural areas

$ 120,000

Launch a local organic produce delivery service

$ 180,000

Initiate a renewable energy project in urban schools

Eligibility criteria of the Community Futures Program program

The business must be located in Alderville First Nation or Northumberland County.

Who is eligible?

Companies located in Alderville First Nation
Businesses situated in Northumberland County
Start-ups seeking financing
Businesses involved in business stabilization
Companies aiming for business expansion

Who is not eligible

Businesses not located in Alderville First Nation or Northumberland County.

Eligible expenses

Purchase of equipment and inventory.
Costs associated with commercial property upgrades or renovations.

Eligible geographic areas

Alderville First Nation
Northumberland County

Eligibility criteria of the Community Futures Program program

Purpose of the financing request.
Reasonable expectation of economic viability.
Creation or maintenance of jobs.
Client character including credit history.
Qualifications of the owners and/or managers.
Personal investment or financial commitment.
Security offered to protect the investment.

How to apply to the Community Futures Program program

Eligibility ConfirmationVerify your business location is in Alderville First Nation or Northumberland County as required.

Ensure your business demonstrates a substantial local presence and meets basic eligibility criteria.

Gather Necessary Documentation

Collect Articles of Incorporation or Business Registration documents.
Prepare recent financial statements and business planning documents.
Compile owner’s personal and financial information for the Owner's Statement of Personal Assets and Liabilities.
Obtain copies or scans of two forms of photo ID.
Prepare additional documents such as detailed multi-year cash flow projections, business plan for start-ups, and any CRA statements as necessary.

Submit Full Application

Use the Reviewr common application platform to submit your full application.
If an alternative application format is preferred, send a request via email.

Follow-up by Loan Officer

A Loan Officer from Nventure will contact you regarding the next steps in the process.

Approval and Offer

If approved, receive a Letter of Offer from Nventure outlining loan terms.

Closing and Fund Advancement

Complete the closing process with the possibility of advancing funds within two weeks of approval.

Additional information

All owners of an incorporated business are required to personally sign a Guarantee limited to the amount of the loan.
The maximum loan amount available for commercial properties is $250,000, with the potential to partner with your financial institution or BDC for larger amounts.
Loans require some type of security, but physical security may not be necessary based on the loan's purpose and amount.
Nventure does not currently offer non-repayable contributions or grants, but recommends checking other opportunities through Government of Canada resources and signing up for their newsletter for future alerts.