Financial Services
Related Links: Loan Application| Frequently Asked Questions
Community Futures has loans to start, buy or expand your business. If you have a commercially viable business or project in the Okanagan Similkameen region, Community Futures may be able to arrange the financing you need. Starting or expanding your business requires a lot of research and planning. The people at Community Futures Okanagan Similkameen can also provide the guidance you need to get going.
Forestry loan funds through Forest Renewal BC
Administration FeeTargeted Loan Funds
Youth loan funds through the Canadian Youth Business Foundation
Entrepreneurs with Disabilities loan fund Lending Details
Term of Financing
CFOS provides short term loans - Average term is 3 years
Cost of Financing
Prime plus 2.5% to a minimum of 7.75%
Administration fee is based on principal amount of loan. Generally 1% of principal amount of loan amortized over the term of the loan, and any registration expenses.
Loan Repayment Terms
Regular monthly payments are required. Payments can be customized according to your business cycle for seasonal businesses.
Average Decision Turnaround
1 week to 1 month
Security for Repayment
General and/or specific security agreement including property and equipment or lease agreement. A personal guarantee is required.
Principal Prepayment
Prepayment of principal without penalty
Contact
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Partners
The Canadian Youth Business Foundation - www.cybf.ca
The Canadian Youth Business Foundation (CYBF) is a national charity providing pre-launch coaching, business resources, start-up financing and mentoring to help you start your own successful business. If you are 18-34 and have a business idea...they can help! Check them out at www.cybf.ca and get started on your business today!
The Canadian Youth Business Foundation - www.cybf.ca
The Canadian Youth Business Foundation (CYBF) is a national charity providing pre-launch coaching, business resources, start-up financing and mentoring to help you start your own successful business. If you are 18-34 and have a business idea...they can help! Check them out at www.cybf.ca and get started on your business today!
