Community Futures Southwest is a developmental lender offering loans and financial guarantees to entrepreneurs operating within our service region. Our mandate is to support economic development and help entrepreneurs achieve their goals.
As a developmental lender, programs delivered by the corporation are intended to assist new and growing, viable businesses. Funds are not provided for:
- Debt consolidation/refinancing
- Continued operating shortfalls.
- Existing businesses that are challenged due to credit over-extension.
- Grants and forgivable or interest rate-reduced loans are not available.
Why work with Community Futures?
- We’re fast – 10 day lending turnaround
- We’re flexible – solutions are tailored to your needs, not our products
- We’re affordable – reasonable interest rates
- We’re local – decisions are made in the community
- We care – our passion is to help you succeed
Application Process
There is no application fee. It is required the borrower(s) be 18 years of age, or in the case of minors, a co-signor may be required. Potential borrower(s) must declare if they are related to any employee or Board Member. Loan funding is considered under several programs.
Criteria
Following the review of a comprehensive business plan and cash flow information, applications will be evaluated using the following criteria:
- Business outlet is located within our service area illustrated below.
- Anticipated financial viability.
- Responsible management.
- Personal financial or equity investment.
- Available security.
Community Futures Map of Service Area in Southwest Saskatchewan
Investment Loan
Community Futures Southwest invites new and existing business owners who have a business or wish to start a business or expand in our service region to apply for Investment Loans or Guarantees or Equity positions.
ReadyCash – Quick turnaround short-term loans of up to $10,000 – so you can react to a great opportunity.
Flexline – Flexible line of credit loans from $10,000 to $50,000 – money that’s there when you need it.
Trailblazer – Loans for value-adding, innovation, enhancing productivity and developing new products and markets.
Growbiz – Loans to assist with the purchase of an existing and successful rural business.
BizBuyout – Loans to assist with the purchase of an existing and successful rural business.
NewBiz – Financing to start a business in a community served by Community Futures.
NextGen – Loans for young entrepreneurs ages 18 to 29 with a great business idea.
Disabilities Loan
Community Futures Southwest offers a financial assistance program specifically tailored to entrepreneurs with disabilities. This program includes:
BusinessAble – Loans for persons with a disability seeking to start or expand a business.
- Funds are reserved for applicants having one or more physical or mental impairments.
- $150,000.00 maximum to any one entity.
- Interest rate established at time of application.
- Amortization based on durability of security.
- No prepayment penalties.
- The borrower pays professional and legal fees.
Small Business Loan
Community Futures Southwest, through its Small Business Loans Program, can provide small business loans up to $15,000.00 to one particular business entity. Any potential entrepreneur residing in our service region can apply through our organization for this funding.
This program includes:
- $15,000.00 maximum to any one entity.
- Interest rate established at time of application to a maximum of 10% per year.
- Amortization based on durability of security to a maximum of five years.
- No prepayment penalties.
- The borrower pays professional and legal fees.
- Funds are reserved for applicants acquiring capital assets or inventory. This program does not accommodate agricultural, direct selling, or multi-level marketing ventures.
- An SBLA fee of $60.00 is required.
Youth Loan
Community Futures Southwest understands the importance of retaining and attracting youth to our communities and we have lending programs oriented to young entrepreneurs with promising business intentions.
