How much funding can be received?

Funds up to 15000% of admissible expenses.

What is the deadline to apply?

The deadline to apply is not specified.

Who are the financial supporters of the OCLF — Small Business Loans?

OCLF — Small Business Loans is funded by Ottawa Community Loan Fund (OCLF)

What are OCLF — Small Business Loans's eligibility criterias?

Eligibility criteria not mentioned

OCLF — Small Business Loans

Last Update: July 22, 2025

Ottawa, ON

Offers loans for small business startup or expansion

OCLF — Small Business Loans at a glance

Eligible Funding

Max. $15,000

Timeline

Continuous Intakes

Financing Type

Loans and Capital investments

Eligible Industries

All industries

Grant Providers

Ottawa Community Loan Fund (OCLF)

Status

Open

Overview of the OCLF — Small Business Loans program

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.

Financing terms and conditions

Loan amounts up to a maximum of $15,000.
Interest rates are set at the current bank prime rate plus 2% to 6% maximum.
Repayment terms typically range from 12 to 60 months.
A one-time due diligence fee of 3% of the loan value, capped at $250, is charged upon approval.
Applicants must provide proof of identity, a business plan with cash-flow projections, two references, a current resume, and business registration documents if applicable.
The OCLF will conduct a credit check and assess eligibility on a case-by-case basis, even considering those with past credit difficulties.

Eligible projects & activities

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 criteria of the OCLF — Small Business Loans program

Who is not eligible

Businesses planning to use funds for debt consolidation.

Eligible geographic areas

City of Ottawa

How to apply to the OCLF — Small Business Loans program

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