Some people think that a business is easy to put up. They have gotten it all wrong. If you want to establish a restaurant, it has to go beyond grandma's recipe handed down from generation to generation. It is a wise strategy to look at loan programs, ideas from reliable sources and testimonials about the mistakes and advices on starting a business. Go for a loan program which is one of the most successful means that Community Futures (CF) have in fostering entrepreneurship in BC is their ability to provide business loans to entrepreneurs who have had trouble accessing capital from traditional lenders.
In addition to providing individualized business counseling, the Community Futures operation can lend up to $500,000 to new and existing businesses for the following: capital purchases, operating capital,
inventory, start-up costs, top-up financing, and expansion. You don't have to worry because loans received from a Community Futures are fully repayable and are offered at a competitive interest rate. In over ten years of lending to entrepreneurs in British Columbia, the CF'S, on average, have recorded an unprecedented financial institution repayment rate of 96%.Community Futures can help you arrange financing for your business through regular channels (banks, credit unions, and the Business Development Bank of Canada). In addition, Community Futures can provide business development loans from their own funds, as well as by accessing specialized loans programs that target segments of the BC population that may face additional obstacles in securing business financing.
Unique Loan Programs:
(1) Forest Communities Business Program
The Forest Communities Business Program was established in 1996 to make additional capital available for investment in the forestry sector. The former Forest Renewal BC loan fund was established as a CFDC-FRBC matching investment fund where local Community Futures administer loans to clients operating forestry-related businesses. Contact our office for details by email or call 250-567-5219.
(2) Aboriginal Business Development Funding
Community Futures Stuart Nechako works with organizations such as Aboriginal Business Canada and First Nations Agriculture Lending Association to help meet the business development needs of First Nations entrepreneurs throughout our service region. The criteria to obtain a loan, specific financing criteria must be met, including completing a Business Loan Application.