Loans

HCDC Business Financing

No matter how big or small your need for business financing, our knowledgeable staff are always pleased to meet with you to discuss your needs.  Whether you are just starting, been in business for a long time, are exploring new possibilities, or need some advice, HCDC is here to assist you.   HCDC can provide business counselling, access to business development and other funding resources and help you with the loan application process. 

Loans for new, existing or expanding businesses in Haliburton County, Ontario 

What types of things can loans be used for?

  • Equipment
  • Operating costs
  • Vehicles
  • Business/land/building purchase or improvements
  • And almost anything else you can think of!

Why a loan from HCDC?
HCDC has the flexibility to provide financing for businesses that are unable to secure funding under reasonable terms and conditions from traditional lenders. In some cases we may be prepared to consider a position of higher risk than other lenders.  We always encourage borrowers to meet with traditional lending institutions as their first option.

Types of Loans

Term Loan

Demand/Line of Credit

0% Interest

Term loans are repaid over a specified period of time with blended principal and interest payments. Interest rates are fixed during the term of the loan. Generally term loans do not exceed seven years. Interest is applied monthly. Flexible repayment terms are available including seasonal payment plans. 

A demand loan or line of credit has interest only payments with varying payments of the principal. The loan is reviewed and renewed yearly, with a fixed interest rate for one year. If the line of credit is not renewed, the outstanding principal becomes due and payable

HCDC has available a special loan program that can provide zero percent interest loans to businesses wishing to do facade improvements or renovations to underutilized commercial properties.   

Applying for a Loan 

Time to apply for a loanStep 1: Make an appointment
Give us a call 705-457-3555 and we will book an appointment for you to meet with our business counselor in person or by phone.

Step 2: Meet with our business counselor
Typically your first meeting will be about 1 hour.  You'll chat about your business ideas, financial needs and get an idea of how we may be able to assist you in achieving your business goals.

  Some preparation for your meeting is excellent, but not necessary.

Step 3: Complete the application
To apply for a loan with HCDC you will need to complete a loan application, personal net worth statement and cash flow projection. You can find these documents below

Step 4:  Application reviewed by committee
All financing approvals are made at the community level by our Investment Committee. The Investment Committee is comprised of members of our Board of Directors who have a wide range of business experience and knowledge about the local economy.  The Committee meets monthly.

Step 5: 
If your loan is approved...
Staff will prepare an offer to finance and necessary loan documentations and then arrange an appointment with you to meet and review the details. 

If your loan application is denied….
Even if your loan is not  approved, we are still here to assit you.  We can help with guidance on other options for financing, recommendations for other funding options and our business counselor is available for advice any time.  If you feel you would like to appeal the decision you can resubmit a second application and include additional relevant information directly to the Investment Committee.   If the Investment Committee rejects the second application you  do not have further recourse to appeal.


 

Loan application documents

Important: Before you start filling in any form be sure to save it to your computer.  If you do not save the form all data will be lost when you close your browser.  

Loan Application  Picture    Cash Flow Projection  
 Personal Net Worth Statement  Picture   
 

 

Other Financing
HCDC is not the only source of financing for local businesses and not-for-profit organizations.  Visit our resources page for other options.