How do I find out if I am eligible for a Community Futures loan?

The best place to start is to schedule an appointment with the Business Analyst at our office by calling 780-849-3232. General eligibility criteria include:

• Your business must be located in our region
• You must be involved in the day-to-day operations of the business
• You must be of legal age and a resident of Canada
• You must contact a bank first. If you are unable to secure appropriate financing under reasonable terms elsewhere, contact your local Community Futures Office.

Can I combine Community Futures financing with other borrowing?

If you are looking for a loan for your business, you must contact a bank first. Then, if you are unable to secure appropriate financing under reasonable terms elsewhere, you may be able to get financing through Community Futures.

Do I need to have a certain amount of money, assets and/or resources before applying for a business loan?

If you are interested in applying for a Community Futures business loan, you must be prepared to make a personal investment. We ask that you provide cash plus security (such as vehicles, equipment, land, buildings, etc.) to back the loan. This shows that you are committed to making your business work. For more information, contact your local Community Futures office.

Will my credit rating be considered before applying for a business loan?

Yes. All financial institutions including Community Futures will run a credit check on you or your incorporated company to see if you have dealt responsibly with past loans and debt. A bad credit rating is a concern to most lenders, including Community Futures. If this is an issue, there are a number of things you can do to improve your credit rating. Feel free to contact us to discuss options.

Am I required to provide a business plan to apply?

Yes. A business plan provides important information about your company's management expertise and viability. Almost all financial institutions, including Community Futures, requires that you prepare a business plan – and we can help you write it, or provide you with useful tips and tools. A good place to start is to complete the forms available for download on this page aboxe and work through the Loan Application and Business Plan Template. We are here to help walk you through every step of the business planning process. Learn more from the helpful experts at our Community Futures office by calling today at 780-849-3232

Typically, how long does it take to receive a decision on a loan application?

Community Futures strives to provide a decision for each loan application within 10 business days from the date the completed loan application (including all required support information and documentation) is received by the office. Contact our office to discuss loan products. The Loan Application package and checklist are available on this page for download.

Does the business need to be located in my community?

Community Futures loans and services are available for businesses located within our region both in town limits and rural locations.

How do I appeal a declined loan application?

Rejected Applications/Appeal Process: The General Manager or Business Analyst will inform the client immediately following the Investment Review Committee decision meeting. The applicant will be sent a letter outlining the reason(s) for the rejection of the application. Appeals will be addressed by the Investment Review Committee only. All appeals must be made in writing Upon an Appeal request:

• Investment Review Committee meets and review the loan application
• Committee analyzes the loan application and makes their final decision.
• Client is advised by authorized personnel within 24 hours of the decision.
• Only one appeal permitted per proposal, with the Board’s decision being final

Want to start a new business? Our NewBiz business loan can help:

A great place to start is by getting in touch with one of our experienced Business Analysts. We love hearing about your business dreams and helping turn them into reality. We will help you to take advantage of free business advice and counselling and to begin the loan application process. We also provide fee-based services such as business coaching, financial planning and training. Our NewBiz Business Loan is designed with you in mind:

• Borrow up to $150,000 to start a business in rural Alberta
• Borrow only what you need, when you need it. Many Community Futures clients start with one kind of loan product and over the years take advantage of our other great loans and programs.
• Loan qualification and repayment terms are affordable and flexible. We take a broader view of your assets, income and skills than traditional lenders such as banks.
• Get access to a wide range of business supports from Analysts who know rural business like no one else, including free business advice and counselling usually up to 4 hours. Afterwards, hourly low-cost fees may apply for additional business coaching, business plan help, training programs and technical assistance.

Found a business to buy? Our BizBuyOut business loan can help:

Whether you are a first-time business owner or experienced entrepreneur, buying an existing business can be a smart investment. Our experienced rural Business Analysts can quickly help you access the information and financing you need. We will help you to take advantage of free business advice and counselling and to begin the loan application process. We also provide fee-based services such as business coaching, financial planning and training. Our BizBuyout Business Loan is designed with you in mind:

• Borrow up to $150,000 to buy an existing rural Alberta business
• Borrow only what you need, when you need it. Many Community Futures clients start with one kind of loan product and over the years take advantage of our other great loans and programs.
• Loan qualification and repayment terms are affordable and flexible. We take a broader view of your assets, income and skills than traditional lenders such as banks.
• Get access to a wide range of business supports from analysts who know rural business like no one else, including free business advice and counselling usually up to 4 hours. Afterwards, hourly low-cost fees may apply for additional business coaching, business plan help, training programs and technical assistance.

Ready to expand into new markets? Our GlobalReach Business Loan can help:

If you need to grow your customer base and/or expand into new markets, we’re here for you. Our experienced rural Business Analyst can quickly help you access financing to broaden your reach. We will help you to take advantage of free business advice and counselling and to begin the loan application process. We also provide fee-based services such as business coaching, financial planning and training. Our GlobalReach Business Loan is designed with you in mind:

• Borrow up to $150,000 to expand your existing rural Alberta business
• Borrow only what you need, when you need it. Many Community Futures clients start with one kind of loan product and over the years take advantage of our other great loans and programs.
• Loan qualification and repayment terms are affordable and flexible. We take a broader view of your assets, income and skills than traditional lenders such as banks.
• Get access to a wide range of business supports from advisors who know rural business like no one else, including free business advice and counselling usually up to 4 hours. Afterwards, hourly low-cost fees may apply for additional business coaching, business plan help, training programs and technical assistance.

Need cash to seize an opportunity? Our Opportunity Business Loan can help:

We offer working capital solutions that keep your business moving forward. The Opportunity business loan is designed to protect your cash flow and help you innovate and grow. Our experienced rural business analysts can also assist with financial management and business expansion coaching. We will help you to take advantage of free business advice and counselling and to begin the loan application process. We also provide fee-based services such as business coaching, financial planning and training. Our Opportunity Business Loan is designed with you in mind:

• Borrow up to normal maximum of $25,000 (but our range is $150,000) to enhance an existing rural Alberta business
• Borrow only what you need, when you need it. Many Community Futures clients start with one kind of loan product and over the years take advantage of our other great loans and programs.
• Loan qualification and repayment terms are affordable and flexible. We take a broader view of your assets, income and skills than traditional lenders such as banks.
• Get access to a wide range of business supports from analysts who know rural business like no one else, including free business advice and counselling usually up to 4 hours. Afterwards, hourly low-cost fees may apply for additional business coaching, business plan help, training programs and technical assistance.

Young and business minded? Our NextGen Business Loan can help:

Today’s young people brings fresh thinking and out-of-the-box solutions to the world of business. If you’re 18- 39, the NextGen business loan can help turn your ideas, energy and drive into reality. Our experienced rural Business Analysts are ready to help you to take advantage of free business advice and counselling and to begin the loan application process. We also provide fee-based services such as business coaching, financial planning and training. Our NextGen Business Loan is designed with you in mind:

• Borrow up to normal maximum of $25,000 (but our range is $150,000) to start a rural Alberta business
• Borrow only what you need, when you need it. Many Community Futures clients start with one kind of loan product and over the years take advantage of our other great loans and programs.
• Loan qualification and repayment terms are affordable and flexible. We take a broader view of your assets, income and skills than traditional lenders such as banks.
• Get access to a wide range of business supports from analysts who know rural business like no one else, including free business advice and counselling usually up to 4 hours. Afterwards, hourly low-cost fees may apply for additional business coaching, business plan help, training programs and technical assistance.

Have a disability and a business idea? Our BizAble Business Loan can help:

The Alberta Entrepreneurs with Disabilities Program (EDP) offers people with disabilities an opportunity to be a business owner on their own terms. With business support from our experienced rural business analysts, and flexible BizAble business loans, we can help you start, expand and develop a viable business that is a perfect fit for your abilities and talents.Our experienced rural Business Analysts are ready to help you to take advantage of free business advice and counselling and to begin the loan application process. We also provide fee-based services such as business coaching, financial planning and training. Our BizAble Business Loan is designed with you in mind:

• Borrow up to $150,000 to start a rural Alberta business
• Borrow only what you need, when you need it. Many Community Futures clients start with one kind of loan product and over the years take advantage of our other great loans and programs.
• Loan qualification and repayment terms are affordable and flexible. We take a broader view of your assets, income and skills than traditional lenders such as banks.
• Ask us about our enhanced support service program for persons with disabilities