Community Futures Micro Loans — Boundary Region
Last updated on December 12, 2024Description
Community Futures provides financing alternatives to small and medium enterprises when access to credit is a challenge to starting or growing their business. Different than a bank, Community Futures uses different lending criteria, focusing on rural development and providing business financing to small local businesses. They also work in partnership with other business lenders, educational institutions, not-for-profits and community governments to grow and diversify the local economy.
Community Futures Boundary offers Business Loans & Development Micro Loans of $200 - $10,000 at a fixed rate of 12% to eligible individuals. Micro Loan clients who make all loan payments on time and as agreed will receive 25% of the 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. Approval is based on character and business potential. You can apply for a Micro Loan at either Greenwood or Grand Forks offices.
Special Requirements
Applicants must be:
- 19 or older
- legally entitled to work in Canada
- a resident of the Boundary Area
- unable to get money from traditional lenders
Community Futures is the only organization throughout rural BC with a mandate for small business and community economic development. Their experts offer local assistance with business planning, loans, business support services, and self-employment, from 34 offices in rural B.C.