Community Futures Program
ON, Canada
Provides business loans and support for economic development
grant_single|update February 28, 2025
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|maxCount
grant_single|deadlines
- grant_single|timelineUnspecified
grant_single|financingType
Loans and Capital investments
grant_single|eligibleIndustries
- Other services (except public administration)
- Public administration
grant_single|grantors
- Nventure
grant_single|status
grant_card_status|open
grant_single_labels|preview
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.
grant_single_labels|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.
grant_single_labels|projects
- Providing financing for start-up businesses.
- Business stabilization efforts.
- Business expansion projects.
- Purchase, upgrade, or renovation of commercial properties.
grant_single|admissibleProjectsExample
$ 200,000
Develop an AI-driven financial advisory platform
$ 80,000
Implement eco-friendly packaging for local artisanal goods
$ 250,000
Establish a tech incubator for startups in rural areas
$ 150,000
Create a cultural exchange program for artists
$ 120,000
Launch a local organic produce delivery service
$ 180,000
Initiate a renewable energy project in urban schools
grant_single_labels|admissibility
- The business must be located in Alderville First Nation or Northumberland County.
grant_eligibility_criteria|who_can_apply
- 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
grant_eligibility_criteria|who_cannot_apply
- Businesses not located in Alderville First Nation or Northumberland County.
grant_eligibility_criteria|eligible_expenses
- Purchase of equipment and inventory.
- Costs associated with commercial property upgrades or renovations.
grant_eligibility_criteria|zone
- Alderville First Nation
- Northumberland County
grant_single_labels|criteria
- 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.
grant_single_labels|register
- Step 1: 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.
- Step 2: Gather Necessary DocumentationCollect 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.
- Step 3: Submit Full ApplicationUse the Reviewr common application platform to submit your full application.
- If an alternative application format is preferred, send a request via email.
- Step 4: Follow-up by Loan OfficerA Loan Officer from Nventure will contact you regarding the next steps in the process.
- Step 5: Approval and OfferIf approved, receive a Letter of Offer from Nventure outlining loan terms.
- Step 6: Closing and Fund AdvancementComplete the closing process with the possibility of advancing funds within two weeks of approval.
grant_single_labels|otherInfo
- 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.
