Business Loans & Financing
High-Relationship, Community Based Lenders.
We love lending!
Community Futures Boundary has been lending money to small businesses throughout the area since 1992.
We are a high relationship, community based lender. And that means we want to work with you in a way that makes sense for your business. The goal of our loan portfolio is to balance risk and foster sustainable community economic development.
We aren’t like other financial institutions! We are extremely flexible, dependable, and often times incredible. That is what many of our clients have told us over the past 25+ years.
What matters most:
At Community Futures Boundary we believe that …
- Nobody will ever out-work our organization
- Nobody will do more for their clients than we do
- Nobody will be more authentic, humble, genuine and unique
- Nobody will conduct their work with more passion and empathy than we do
- Nobody will be more flexible and innovative in finding solutions for you and your business.
Doing business as normal is not something we have much interest in embracing. That means that we do business both differently and better. Every single day. No excuses. No days off. No exceptions. None.
Plan For Your Success
All new entrepreneurs require a map to keep them on track and get them to where they want to be. A well constructed business plan will assist you in the development and operation of your business. Our business consultants can help you consider the major components of a business plan.
Our Business Planning Workshop is designed to assist you in the preparation of a comprehensive business plan prior to establishing your business. The business plan is an essential tool for you as a business owner, and may also be required by investors, suppliers or financial institutions.
A Business plan will help you:
- Organize your ideas
- Analyze the viability of your business
- Provide an operating guide and sales tool
Business Loans Manager
Community Futures Boundary
T: 250-442-2722 ext: 222
1. Got An Idea? Let’s Make It Happen!
Community Futures has been lending money to small businesses throughout the Boundary since 1992. During that time we have approved loans to well over 600 businesses.
Community Futures has loan funds available to start, buy, or expand your business. If you have a commercially viable business or project in the Boundary region, Community Futures Boundary may be able to arrange the financing you need.
Community Futures Boundary also lends to eligible not-for-profits and social enterprise entities.
Starting or expanding your business requires a lot of research and planning. Community Futures Boundary can provide you with the tools and guidance you need.
Business Development Loans
Loans are available to a maximum of:
- $150,000 through our regular loan process
- $500,000 through our partnerships with other Community Futures offices throughout the province.
- $10,000,000.00 with our Rural Partnership Agreement with Business Development Bank of Canada (BDC).
Funding is available for start-ups, expansion, additional working capital, equipment purchases, real estate purchases and maintenance.
2. Business Loan Application Process
- Either contact our office via phone or email to start the process with the Loans Manager or apply directly on our loans portal.
- Community Futures Boundary will provide you the tools and guidance needed to create your business and projected cash flow projections. If required we will direct you to one + one coaching through our business advisory program.
- We will verify your credit history and information provided on your loan application. Further clarification and/or additional information may be requested to strengthen the application.
- Once the Loans department has determined that you have provided a clear picture via your business proposal it will be summarized and presented to the Community Future’s Boundary loans committee with all the supporting documentation you provided.
- If approved, you will be presented with a letter of offer outlining the terms and conditions. Once you have accepted we will execute the agreed upon security and loan documentation.
- More complex deals will take more time and investigation. We will work with you to try and get to “yes”. Simply put your success is our success!
What We Offer:
- Support for new or existing business.
- We specialize in “start-up ventures”.
- Competitive interest rates.
- Flexible repayment schedules
- No penalties for early repayment of any business development loan.
- Ongoing support for your business with access to counselling, training and business advisory services.
- Every business is unique. We understand that and we work to find equitable solutions for our entrepreneurs.
Loans Appeal Procedure
- If the applicant’s proposal is rejected, and there is significant additional information provided by the applicant, then the applicant shall have the option of appealing the decision back to the Loan Committee. If the application is subsequently rejected by this second review, the applicant shall have redress to appeal to the full Board of the Community Futures Boundary. Further, if the applicant requests a further appeal, there is a Provincial Committee that would review the loan process.
- Applicants have the option of re-applying for financing with a new and complete application package at any point following a rejection. The application will be considered as a new application.
3. MICRO Loan Program
Community Futures Boundary offers Micro Loans of $200 – $10,000 at a fixed interest rate of 12% to eligible individuals for business needs.
Micro Loan clients who make all loan payments on time and as agreed will receive 25% of the total interest they paid as a rebate once the loan is paid in full.
Applicants with less than stellar credit records may still apply as each case is considered on an individual basis. Loan approval is based on the whole picture, character, business potential, job creation, market conditions, capacity to repay and security.
If you are 19 or older, legally entitled to work in Canada, a resident of the Boundary Area, you can apply for a Micro Loan at our Grand Forks office.
“We have been dealing with Community Futures Boundary’s Loans Department for some time now. They have been so helpful with navigating programs, and updating us when a new program comes in that might fit our business. Really, they have helped us with everything and have been quick to respond! A big thumbs up to Community Futures Boundary. They do a great job!”
Chelsey and Keenan Wiebe – “Toka Pines” Big White