Community Futures Lesser Slave Lake Region Loan Program
Community Futures Lesser Slave Lake provides a variety of customized, affordable, loan options for small business owners and entrepreneurs, ranging from $500 to $150,000.
We are known for saying “yes” when other lenders say “no.” Community Futures offices apply flexible loan criteria and options to help you start a new business, buy a business, open a franchise, expand into new markets, invest in technology, give your business a face-lift and help young entrepreneurs get their first loan.
Our goal is to help you succeed so that our community becomes a better place to live and work. Connect with a business advisor today by calling 780-849-3232.
We take the time to really understand your business dreams and goals, and then help you work out a plan to turn them into reality. These success stories showcase businesses in our region and what they are achieving with our support!
Our Business Loan Program
One of the most successful ways that our Community Futures office can foster entrepreneurship is by providing business loans to entrepreneurs who have had trouble accessing capital from traditional lenders.
In addition to providing business advisory services, our Community Futures office can lend to new or existing businesses for:
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Capital purchases (i.e. equipment, land or building)
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Operating capital (i.e. salaries, marketing, insurance)
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Inventory
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Start-up costs (i.e. franchise fees, leasehold improvements)
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Expansion (i.e. new equipment, additional leasehold improvements, additional product lines, marketing costs)
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Purchase of an existing business
Loans received from our Community Futures office are fully repayable and are offered at a competitive interest rate to entrepreneurs with businesses in our region.
Arranging Financing
Community Futures can provide business development loans from their own funds, for those individuals that have difficulty securing business loans.
Our office provides two types of loans:
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Term loans, usually 5 year terms for capital purchases, start-up costs, expansions, inventory
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Lines of credit, 12 month terms for inventory or working capital, to help with initial expenses during the first year of operation
In addition, Community Futures can help you arrange financing for your business through commercial lenders, such as the banks, credit unions, or the Business Development Bank of Canada (BDC).
Do I Qualify for a Loan?
Community Futures Lesser Slave Lake Region may help finance viable business ventures for start-up, expansion or the purchase of an existing business. We are happy to accept loan applications for financing businesses within the Lesser Slave Lake Region.
Loan Eligibility:
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The applicant must be 18 years of age or older and a resident of Canada
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The business must be located within the Lesser Slave Lake Region
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Employment should be created or maintained in the region
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Applicant has the ability to repay the loan from business income
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The business is economically viable
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The business has competent management and staff, with the relevant operational skills
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The applicant or business provides adequate security for the loans
Usually applicants will not be considered in any of the following situations:
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The applicant is in bankruptcy
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The applicant has an outstanding court judgment
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The applicant is unable to provide proof of residency
How Do I Apply for a Community Futures Loan?
Complete the forms in the Loan Application package and a Business Plan. Upon completion of these forms, please email to our Business Analyst at balsl@albertacf.com.
Please feel free to contact our Business Analyst at 780 849-3232 extension 03, or by email at balsl@albertacf.com to arrange business counselling sessions for assistance in the completion of the Loan Application package and Business Plan.
Click each document below to download.
The complete Loan Application package consists of:
The Business Plan consists of:
Small Business Checklists and Guides
These checklists will guide you through the essential things that you should take into consideration when starting or purchasing a new business.
