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BUSINESS LOANS

If you are expanding an existing business or starting a new business, Elgin CFDC can help.

Loans: Up to a maximum of $125,000
Rates:  
Vary from prime + 2 to prime +4%
Terms:   Negotiable on a case by case basis
Uses:   Equipment/Asset Purchases, expansion working capital, leasehold improvements and inventory financing
Prerequisite:   Prior to applying at the Elgin CFDC, you must first approach a minimum of 2 conventional lending institutions
    Business is based in Elgin County.

 

For further information regarding our loans program or to contact one of our business consultants, click here.

 

Loan applicants must provide:

1) Personal Investment: Applicants need to invest some money to demonstrate a real commitment to the business.
2)   A Plan: A detailed business plan is a critical tool to help achieve business success.
3)   Experience: Applicants should possess the experience and skills necessary to achieve success in the business venture.
4)   Character: Applicants must demonstrate a history of honesty and integrity in their dealing with creditors and other business contacts.
5)   Commitment: Applicants must demonstrate a serious commitment to making the business work and repaying the loan.

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300 South Edgeware Rd, St. Thomas, ON Canada N5P 4L1 | Phone: (519) 633-7597 | Fax: (519) 633-5070 | Email: [email protected]