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Businesses in Oxford County that will be creating new jobs or preserving existing jobs for residents in Oxford County may be eligible to receive loans of up to $250,000.

FUTUREOXFORD LEGACY FUND

FutureOxford

ACCESS TO CAPITAL

The goal of this component will be to cultivate entrepreneurship throughout Oxford, thereby building a vibrant and sustainable economy. Priority sectors include youth entrepreneurship and employment, arts, culture, tourism, high-tech manufacturing, green technology, and locally grown and processed agriculture products. Access to capital provides flexible repayment terms, negotiated to encourage the long-term viability of the borrower.

WHO CAN APPLY
  • Community organizations
  • Not-for-profit organizations
  • Co-operatives
  • Social service institutions
  • Business organizations
  • Municipalities
  • Private enterprise
TERMS

Successful applicants will receive business financing up to $100,000 through a repayable loan from the Oxford Small Business Support Centre Inc.
The loan will consist of up to a 5-year term and will be amortized over 5 to 10 years. Interest rates and monthly payments will be decided on a case-by-case basis and may include such conditions as one year of no payments or interest only payments for a defined period.
Credit applications will be evaluated according to the business plan, cash flow forecasts, security available, sustainability of the project and projected outcomes.

Access to Capital Program

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Loans of up to $250,000 are available to new or existing businesses in Oxford County. The Community Futures Oxford’s role is that of a complementary lender. We specialize in providing loans to businesses that have been unable to secure traditional financing under reasonable terms or conditions, or in supplementing financing where the amount provided by a traditional lender is insufficient. Community Futures Oxford will consider taking a subordinated security position.

   Application   

 

 

Micro Loan 15K

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Loans up to $15,000 are available only to existing businesses in Oxford County. The goal of this program is to expedite the loan process and ensure a fast turnaround of application decisions.
Micro Loans can be used for the following:

  • New and used equipment purchases
  • Inventory
  • Working capital

   Application   

 

 

Sand Plains Community
Development Fund:

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Access to Capital Program

Sand Plains Community Development Fund

Loans of up to $250,000 are available to new or existing businesses in Oxford County. The goal of this Fund is to foster entrepreneurship in the region by increasing the availability of patient capital for small business start-ups and expansions in priority sectors. Patient capital provides flexible repayment terms, negotiated to encourage the long-term viability of the borrower.

Loans can be used for the following:

  • New and used equipment purchases
  • Inventory
  • Commercial real estate
  • Working capital

   Application   


Rates and Fees

Interest rates are prime plus 2.0% plus a risk premium based on our evaluation of your application, business plan, cash flow forecast and pledged security. An application fee of 1.0% is due upon loan approval. Repayment terms are very flexible and are negotiated in the best interest of the business. All loans are open for prepayment without penalty.

Eligibility Criteria

  • Ability to repay the loan
  • Adequate security (which could include both business and personal assets)
  • Capability to operate and manage the business
  • Good credit history
  • Commitment to the business in the form of an owner’s equity contribution
  • Job opportunities
  • Sustainable business plan and cash flow

Loan Application Process

Complete your Business Loan Application ensuring that the information is complete and accurate. Make a copy for your records and return the original to Community Futures Oxford. Your application will be retained for our records.
Submit a Personal Statement of Net Worth (PSONW) form for each owner or shareholder.
Complete a business plan (describing the new business, expansion, purchase or restructuring plans). Your business plan should also include at minimum a 2-year Profit and Loss forecast and Cash Flow (if applicable). Any format is acceptable as long as it clearly explains how you will succeed. Existing businesses should provide the last 3 years financials of the business.
Your completed Business Loan Application along with the business plan will be reviewed by the General Manager. If your proposal is determined to be eligible, it will be submitted to our loan review committee to determine whether your loan will be recommended for approval. Approved applications must receive final authorization from our Board of Directors and you will be notified following the Board meeting of the decision regarding your application.

Our Partners

 

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We are the community partner for Futurpreneur Canada in Oxford County. Futurpreneur Canada offers up to $15,000 in start-up financing for young entrepreneurs. Each entrepreneur is also matched with a mentor. The BDC will fund each start-up business up to $30,000.

 

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Business Development Bank of Canada (BDC)
We partner with the BDC to help fund your start-up or expansion. BDC offers financing, venture capital and consulting services to small and medium-sized enterprises (SMEs).

 

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The Federal Economic Development Agency for Southern Ontario (FedDev Ontario) has funded this $20-million program through its Prosperity Initiative. This program will support high-growth, innovative Small and Medium-sized Enterprises (SMEs) in rural and urban communities by offering loans of usually $150,000 to $500,000 to support all aspects of growth challenges facing them. Ask us how the SOFII loan funds could help your business!


  • Luigi Bassaco

  • Luigi Basacco,
    Business & Loans
    Consultant
    519)425-0401 Ext:30

    contact number email