|
||||||||
|
| Small Business Stimulus Loan The Prince Edward Lennox/Addington Community Futures Development Corporation is pleased to introduce the Small Business Stimulus Loan. This loan is available to all new or existing small businesses within the PELA Region. Through Canada’s Community Adjustment Funding(CAF) the federal government is providing $750,000 to PELA CFDC to assist new or existing small businesses who require access to capital. As part of this support, PELA CFDC is offering Economic Stimulus Loans of up to $25,000 to new and existing businesses in Prince Edward/Lennox & Addington Counties for the purchase of capital equipment, inventory, or hiring of new staff. Interest rates and loan terms have been adjusted to provide maximum flexibility. Rationale With the collapse of global credit markets and resulting economic recession in Canada, many small businesses in Prince Edward and Lennox & Addington Counties have paid a price in terms of employment and economic growth. Despite targeted monetary policy by the Bank of Canada and Government investments in the manufacturing sectors, most notably the Ontario auto sector, a recent poll still found that 64% of respondents think the stimulus package will have no impact on their personal financial situation and 55% feel it will make no difference to their employer’s financial situation. PELA CFDC realizes that many small businesses continue to experience difficulty in accessing capital and/or managing cashflows. The Economic Stimulus Loan is intended to provide financing to new and existing small businesses that maintain and create jobs in our community. How It Works PELA CFDC administers local investment funds to help new and existing small businesses finance start-up, expansion or stabilization plans that help maintain or create employment. Loan financing is available when funding from traditional sources is insufficient or unattainable. Who Is Eligible In order to be eligible for this lending product, businesses must be: • Located in Prince Edward or Lennox & Addington Counties • Have satisfactory credit history • Maintain or create jobs in the community • Have a Business Plan To download the application please click here. Completed applications should be submitted to gc@pelacfdc.ca |
 |
|||||||||
|
* Coin image© 2009 Royal Canadian Mint – All Rights Reserved / Image de pièce© 2009 Monnaie royale canadienne – Tous droits réservés