The Community Futures Development Corporations (CFDC) is a non-profit group that supports innovative entrepreneurs and small businesses by providing low interest loans for their expansion projects. CFDC receives Canadian Government grants from FedDev to support to SMEs in rural Ontario. They focus their funds to specific rural areas by creating programs to improve and diversify their economies. One of their more popular programs takes place in the Sand Plains region in Southern Ontario.
Project Financing for Small Businesses and Communities
The Sand Plains Community Development Fund finances small business expansion projects within several rural communities in Southern Ontario. The program provides up to $250K in fully-repayable business funding grants for projects relating to the agriculture/agri-food or manufacturing industries. The program intends to fund economically viable projects that will improve the local economy and promote job creation and sustainability. Applications for this program are becoming increasingly time sensitive as the deadline for this round of funding ends on March 31, 2012.
Business Eligibility for Canadian Government Funding Loans
In order to receive this Canadian Government business loan, organizations must operate within one of the rural communities in the Sand Plains region. Private enterprises and Agricultural co-operatives are to be considered eligible as long as they have been incorporated and are eligible to enter legally binding agreements. Projects must take place in part or entirely within the Sand Plains region and incorporate the economic and social welfare of the community. The Sand Plains region includes the counties of: Brant, Elgin, Middlesex, Norfolk and Oxford.
The program may give priority to projects that involve the following sectors:
- Agribusiness/ Agri-Food
- Green Products
- Renewable Energy / BioFuels
- Food Processing
Interest rates and loan terms will be determined for each individual participant on a case by case basis.
Applying for Small Business Financing
The website of the Sand Plains Community Development Fund states that they are no longer accepting applications for this program. This statement is true for many of the participating regions; however, applicants from Brant County may still apply by contacting Mike Kirby from Enterprise Brant. For those who would be interested in Canadian Business Grants for Agricultural Projects, contact one of our Canadian Government Funding Experts or follow us on Twitter and LinkedIn.