Economic Partners Sudbury East/West Nipissing Inc

Description

Economic Partners is actively involved in the development of small businesses in the Sudbury East/West Nipissing area. As a Community Futures Development Corporation, Economic Partners provides loans, loan guarantees and equity investments to new or existing businesses that have viable business plans; demonstrate personal commitment; will help maintain or create jobs; and cannot obtain sufficient financing from other sources. Our investments are not considered as grants and they are repayable. The recipient is responsible for the repayment of all the funds disbursed. Our Lending Committee makes all financing decisions at the community level. Eligible applicants must demonstrate a commitment to help create and/or maintain jobs and that all other funding sources have been contacted before developing their investment request application. Our staff can assist you in the preparation of a financing request. Please note that these requirements are not limited as to what is described above. Economic Partners reserves the right to require additional information to properly assess a request for funding. The minimum interest rate is never lower than what a conventional financial institution would charge on a similar deal as described in the Small Business Financing Act. The interest rate is assessed based on the client's ability to manage the business, the amount of the funds requested and the overall risk of the proposal. The total amount of funds approved will not exceed $150,000, unless approved by Industry Canada/FedNor. Under special circumstances, we may provide financial assistance up to $500,000 threw our Northeastern Ontario CFDC Pool. For more information, please contact our Loans Officer. Types of loans available

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