Community Futures Ontario — Access to Capital
Canada
Loan for businesses and social enterprises in rural Ontario
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|minCount
grant_single|deadlines
- grant_single|timelineUnspecified
grant_single|financingType
Loans and Capital investments
grant_single|eligibleIndustries
- grant_single|allIndustries
grant_single|grantors
- Community Futures Ontario (CFO)
grant_single|status
grant_card_status|open
grant_single_labels|preview
Get repayable financing of $150,000 or more for your SME or social enterprise, in the form of a loan, loan guarantee or equity investment, when financing from other sources is insufficient.
grant_single_labels|projects
The Community Futures Program through Community Futures Development Corporations (CFDCs) administers funding throughout various Canadian localities. The eligible geographical areas are determined at the community level by CFDC locations across Canada.
- Local areas served by individual Community Futures Development Corporations in Canada.
grant_single|admissibleProjectsExample
$150,000
Developing a stabilization plan for a community healthcare clinic
$170,000
Establishing a new farm-to-table restaurant
$150,000
Developing a job creation program for at-risk youth
$150,000
Launching a tech start-up focused on educational software
$150,000
Expanding a digital marketing agency
$200,000
Expanding a local organic food store to a full-fledged supermarket
grant_single_labels|admissibility
Eligibility for this grant is based on specific criteria that ensure the alignment of the applicant's business plans and community impact.
- The applicant must be a small business or social enterprise.
- The business must be planning for start-up, expansion, or stabilization of operations.
- The plans must aim to maintain or create jobs within the community.
- Financing must be unavailable or insufficient from other sources to qualify for CFDC support.
- All decisions are made at the community level by local boards of directors.
grant_eligibility_criteria|who_can_apply
The Community Futures Program's Access to Capital initiative is designed to support small and medium-sized businesses and social enterprises that are seeking financing for start-up, expansion, or stabilization projects with the objective of job creation or retention. This program targets companies that have difficulties obtaining financing from other sources.
grant_eligibility_criteria|who_cannot_apply
There are certain types of companies that are not eligible for this grant:
- Companies involved in illegal activities.
- Businesses that do not have a viable business plan.
grant_eligibility_criteria|eligible_expenses
This program provides financial assistance to small and medium-sized businesses and social enterprises for start-up, expansion, or stabilization, specifically to help maintain or create jobs.
- Financing new or existing small businesses.
- Support for social enterprises' start-up activities.
- Expansion projects for growth and development.
- Stabilization plans to sustain operations and employment.
- Local decision-making for financing eligibility.
grant_single_labels|criteria
The Community Futures Program provides repayable financing for small businesses and social enterprises through local investment funds. The financing decisions are made at the community level by local boards of directors.
- Business viability and potential for job creation or retention
- Demonstrated need for financing when other sources are insufficient
- Clear business plan outlining the use of funds
- Positive impact on the community or region
- Ability to repay the financing on commercial terms
grant_single_labels|register
Here are the steps to submit an application for this grant:
- Step 1: Identify Nearest CFDC
- Go to the "Find a Local CFDC" section of the Community Futures Network of Canada website.
- Use the area maps or search function to find the CFDC office nearest to your location.
- Step 2: Contact CFDC
- Contact the nearest CFDC for guidance on the specific application process and requirements.
- Reach out via the provided email address or phone number (1-888-633-2326) for further assistance.
- Step 3: Application Preparation
- Gather necessary documents including business plans, financial statements, and project details.
- Develop a comprehensive application that outlines the purpose of the funding request, the business plan, and expected job creation or stabilization outcomes.
- Step 4: Submit Application
- Submit your application to the CFDC board directly through the method specified by the local office.
- Ensure all required documents and information are included with your application.
- Step 5: Await Decision
- Wait for the CFDC board to review your application and make a financing decision.
- Be available to furnish any additional information if requested by the CFDC.
grant_single_labels|otherInfo
Here are additional relevant details for this grant:
- Financing options include loans, loan guarantees, and equity investments.
- The local boards of directors make all financing decisions at the community level.
- Projects must focus on maintaining or creating jobs in the local community.
- CFDCs provide support to small and medium-sized businesses when financing from other sources is insufficient.
- CFDCs offer repayable financing of $150,000 or more on commercial terms.
- Interested applicants should contact the nearest CFDC office for more details and assistance with the application process.
grant_single_labels|contact
1-888-633-2326
Apply to this program
Empowering Small and Medium-Sized Businesses Through Capital Access
The Community Futures Program improves economic resilience by providing necessary capital to small and medium-sized businesses and social enterprises. Specifically aimed at supporting job creation and sustainability in local communities, it ensures financial assistance when traditional funding sources are insufficient.
Supporting Local Economies with Community-Based Financial Solutions
The Community Futures Program plays a pivotal role in strengthening local economies across Canada by offering strategic financial assistance to small and medium-sized businesses, as well as social enterprises. Administered by Community Futures Development Corporations (CFDCs), this program supports enterprises that contribute to job creation and economic stability in their regions. By providing repayable financing options of $150,000 or more, the program bridges gaps in the availability of capital where traditional financial institutions might fall short.
Each CFDC operates autonomously, ensuring that the financing decisions are rooted in the understanding of local needs and economic conditions. This grassroots approach allows for tailored financial solutions, catering specifically to the growth and sustainability challenges unique to each community. The boards of directors, composed mainly of local stakeholders and business leaders, evaluate the potential impact of loans, loan guarantees, or equity investments on local employment and economic development.
The Community Futures Program is particularly valuable for start-ups seeking to launch innovative products and services, as well as existing businesses looking to expand or stabilize their operations. By offering commercial terms that are competitive and flexible, CFDCs empower entrepreneurs to pursue ambitious projects that might otherwise be hindered by financial limitations. This not only fosters business growth but also enhances community resilience by retaining talent and resources within the locality.
Moreover, the program's emphasis on community-driven decision-making ensures a diversified economic landscape that can withstand macroeconomic shifts. By laying the groundwork for sustainable business models, it nurtures an ecosystem where enterprises can thrive, adapt, and sustain long-term growth. This, in turn, translates into a more robust economy that benefits all stakeholders, from individual entrepreneurs to entire communities.
Financial support under the Community Futures Program is complemented by access to business development services, including planning and advisory services. These additional resources help businesses refine their strategies, enhance operational efficiencies, and adapt to evolving market conditions. By integrating financial and non-financial supports, CFDCs offer a holistic solution tailored to the needs of businesses at various stages of their growth journey.
In essence, the Community Futures Program stands as a pillar of support for local businesses and communities seeking to capitalize on untapped opportunities. It is a testament to the power of localized economic strategies in building resilient and diversified economic landscapes, ensuring that communities not only survive but thrive in the ever-changing economic environment.
