The OCLF Small Business Loans program offers funding up to a maximum of $15,000 to support individuals in starting or expanding their businesses. Eligible activities include business establishment or growth within Ottawa, excluding debt consolidation.

At a glance

Funding available

Financing goals

Develop strategic partnerships

Eligible Funding

Maximum amount : 15,000 $

Timeline

Unspecified

Eligible candidates

Eligible Industries

All industries

Location

Ottawa
Ontario

Legal structures

Non-profit
Public or Parapublic institution
For-profit business
Sole proprietorship
Non-financial cooperative

Annual revenue

All revenue ranges

Organisation size

All organization sizes

Audience

Canadians
Startups

Non-profit candidates

Sector of operation

Economic, Social and Community Development
Business Associations

Target groups

Business owners / entrepreneurs

Revenue structures

All structures

Scope

Local
Municipal
Regional

Activities funded

Starting a new business in the City of Ottawa.
Expanding an existing business in the City of Ottawa.
Investing in business operations where the applicant owns at least 51% of the business or has the necessary co-signers.

Eligibility

Who is not eligible

Businesses planning to use funds for debt consolidation.

Eligible geographic areas

City of Ottawa

How to apply

Gather Required Documentation

Ensure you have proof of identity such as a driver's license or passport.
Prepare a comprehensive business plan with a two-year cash-flow projection.
Collect two references from business or academic contacts.
Update your current resume.
If needed, obtain business registration documents.

Verify Eligibility Criteria

Confirm you are 18 years or older and have permanent legal status in Canada.
Ensure the business is located in or around Ottawa.
Verify ownership requirements for your business structure.
Check that you agree for OCLF to be the first secured party for pledged assets.
Make sure there are no outstanding debts with payment defaults.

Application Submission

Compile all necessary documents organized and completed according to OCLF's requirements.
Submit the application package directly to the OCLF.
Await feedback regarding loan approval and due diligence fee payment.

Additional information

OCLF's lending partners may have additional terms or requirements as part of their assessment process.
The due diligence fee is non-refundable and is applicable only upon the approval of the loan.
Interest rates on the loans will vary depending on the applicant's creditworthiness and market conditions.
Securing a loan may enhance or improve the applicant's credit history if repayments are made regularly.
The loan can be used for business operations but not for the repayment of existing debts.
OCLF's review process includes a credit check, which may impact the applicant's credit score.

Apply to this program

Frequently Asked Questions about the OCLF — Small Business Loans Program

Here are answers to the most common questions about the OCLF — Small Business Loans. This section explains what the program is, how much funding is available, eligibility requirements, application deadlines, and other important details to help you determine if this grant is right for your business.