Creston & District Community Investment Co-op Loan
Creston & District Community Investment Co-op
Loan
Creston & District, British Columbia, Canada
CA$10,000.00
CA$100,000.00
The Investment Co-op aims to direct new, or pre-existing, investment capital from local residents into local businesses with high community impact. We understand that new ventures are vital to a healthy local economy, but can face difficulty in securing financing to get off the ground or grow.
The Investment Co-op can provide short-term capital (1-5 years) to ventures looking to launch or expand, and assist them in establishing a supportive customer base and a sustainable operation for their concept. The Investment Co-op will work in partnership with other local financing organizations. Unlike traditional loans that are based on business history and collateral, these investments are based on the experience and character of the owners, the strength of the business plan and the opportunity for economic, social and environmental and/or agricultural impact in Creston & District.
Eligibility
Please review this eligibility checklist to determine if your venture is a strong fit prior to applying:
• All owners/applicants must be Canadian citizens or landed immigrants
• At least one owner/applicant is a resident of Creston & District
• At least one owner/applicant can demonstrate experience or schooling in the sector in which you are working, or seeking start-up investment
• If an existing venture, able to provide a comprehensive business plan with most recent financial statement and 2 year financial projections
• If a start-up venture, able to provide a well-researched and well-developed business plan with 2 year financial projections
• Clearly demonstrate business case and economic viability, achieving profitability within 3 years
• Business or guarantor able to show the ability to repay the full loan within the maximum term (60 months) and willing to provide a personal guarantee
• Appropriate permits and insurance are researched or in place
• Full disclosure of any issues that could impact eligibility
• The venture must clearly show how it will:
• Encourage economic development in Creston & District; and/or
• Improve a social issue faced in Creston & District; and/or
• Advance environmental sustainability in Creston & District; and/or
• Enhance local agri-food sector in Creston & District.
Contact Details
info@communityinvestmentcoop.ca
Contact Details
http://www.c...