Community Futures Oxford | Business Financing

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.

FUTURE OXFORD 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.

Successful applicants will receive business financing up to $100,000 through a repayable loan from Oxford Small Business Support Center Inc. operating as Community Futures Oxford.

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

Loans of up to $250,000 are available to new or existing businesses in Oxford County. The Community Futures Oxford role is that of a complimentary lender.

We specialize in providing loans to businesses that have been unable to secure traditional financing where the amount provided by a traditional lender is insufficient. Community Futures Oxford will consider taking a subordinated security position.

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Micro Loan 15K

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

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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

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Business Loan Details

Loan Application Process

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!