Support for Business & Social Enterprise
No matter how big or small your business financing needs, whether you are just starting out or you have been in business for a long time, if you are exploring possibilities or just need some advice, our knowledgeable staff are always pleased to meet with you to discuss your situation. In addition to business loans, HCDC provides business counselling, access to resources and mentoring.
The HCDC provides loans to new, existing or expanding businesses and social enterprises*. Loans, available up to a maximum of $150,000, are negotiated at reasonable interest rates and are amortized over a maximum of 15 years. All financing approvals are made at the community level by our Investment Committee. The investment committee is made of members of our board of directors who have a wide range of business experience and knowledge about the local economy.
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.
If you are interested in applying for a business loan we encourage you to make an appointment. Before your meeting we recommend that you take the time to read the section on business loans and to complete a business plan and a personal net worth statement. This information will help us determine your eligibility. If you have any questions about these forms please e-mail us or give us a call at 705-457-3555.
* HCDC defines a “Social Enterprise” as a not-for-profit organization that is involved in revenue-producing activities. The income from these activities is used to support the purpose of the organization.