Loans and Equity
Haida Gwaii Community Futures is a developmental lender providing Social Enterprise and small to medium entrepreneurs (SME) with business loans as a means to stimulate the local economy. Loans can be for new business start-up, existing or expanding businesses. Loans can be for as little as $1000 and up to $150,000.00. Our interest rate is 3% over prime, with a minimum rate of 7.5%. We charge a processing fee equal to 1% of the loan or $100.00 (whichever is greater) and loan terms can be matched to meet your business needs. If, as a part of the loan process, a lawyer's services are required it is up to the client to pay for the legal fees. Under special circumstances we can also look at providing venture capital equity. Borrowers typically are required to have 25% cash equity to qualify for a loan.
All information provided to Haida Gwaii Community Futures is completely confidential.
Borrowing money can take time and depends entirely on the applicant's state of readiness in preparing and presenting a viable business plan and financial information. When all this information has been properly completed Community Futures will set up a Loans Committee meeting to review the application. Please allow 6-8 weeks minimum for the loan process.
