CFDC Business Supports COVID-19
Updated: Apr 9, 2020
The Business Help Centre of Middlesex County -
Emergency Microloan Product
The Board of Directors for Community Futures Middlesex recently approved a COVID-19 Emergency Microloan Product (EMP). Lower interest rates and deferred principal payments can be offered to existing or new clients in need of additional funds for working capital, existing inventory or employee-related expenditures. Our goal will be to make these funds available within 48hrs of approving a completed application.
Please reach out to a member of our team by phone (519-641-6100) or email (firstname.lastname@example.org) to learn more about this product and the specific lending criteria. Disbursements will considered up until July 2 2020.
Community Futures Oxford - Emergency Response Microloan
Message from Community Futures Oxford:
We understand this has been a challenging time for small business owners in Oxford County. Many of you are experiencing unprecedented business interruptions as we all work together to stop the spread of COVID-19. We want to thank each of you for the sacrifices you have made to keep our community safe. Together, we will get through this.
In the meantime, we know that the cash flow in your business has been significantly stressed. To help you manage your monthly financial obligations at this time, Community Futures Oxford has introduced the $30,000 Emergency Micro Loan Program.
Details of business loan:
Eligible businesses must be located within Oxford County
Funding to be used for monthly cash flow requirements
Loan can be used to cover business rent/lease payments of up to $2,500/month for one year
Loan of up to $30,000 per client
No interest for the first 6 months (limited time offer)
Expedited application and approval process
Please contact our office regarding all terms and conditions of the loan
To discuss the needs of your business and begin the application process, you are encouraged to book a consultation with our Business and Loans Consultant to ensure this is the right option for your needs. We are here to help.
To learn and to contact Community Futures Oxford, visit their website at: https://cfoxford.ca/emergency-response-fund/
Venture Norfolk - COVID-19 Cash Infusion Program
A message from Venture Norfolk:
A combined effort from both our staff and our dedicated board of directors has resulted in what we call the COVID-19 Cash Infusion Program. It involves a full principal and interest payment deferral for the next 3 months effective April 1st 2020. This is a deferral of interest, not a postponement of interest. We also will be looking at March’s payment performance with a compassionate view when this Pandemic has run its course.
If you are seeking to continue your payments regardless, you will need to send the payment via Email Money Transfer to email@example.com. Please be sure to send us a password in a separate email.
Enterprise Brant - Emergency Loan Relief
A message from Enterprise Brant:
In an effort to help our community businesses during these difficult times, we have developed a new loan opportunity for businesses that need working capital.
Loan Amounts From $2,500 To $15,000
5 Year Amortization
Fixed Interest Rate Of 2.45% For The First Year
Interest Only Payments For The First Year
Fixed Interest Rate Of 3.45% For Years Two Through Five
Repayable Anytime In Part Or In Full Without Penalty
The deadline to apply is May 31, 2020
For more details and to apply visit: https://www.enterprisebrant.com/services/loans-2/
Elgin Business Resource Centre - Emergency Loans
A message from Elgin Business Resource Centre:
We are offering Emergency Loans and deferred payments to ALL businesses, both existing clients and new.