TBC Development Fund
The purpose of the program is to provide individual business owners with the opportunity to access funding in an attempt to start and/or grow their business. It will be the responsibility of The Business Centre Board Loan Review Committee to assess each application on an individual basis and determine who will receive funding. The program will also provide business owners with professional expertise and advice in addition to financial assistance.
In order to qualify for the loan, applicants must be able to demonstrate how the funds will assist in achieving the goals and objectives outlined in the application. To help the loan review committee in the application process each applicant must provide the following information:
- Applicants must be able to demonstrate a viable business solution that The Business Centre Board Loan Review Committee deems as a feasible business opportunity. This will be demonstrated through the submission of an application, a comprehensive business plan and a presentation.
- Documentation will be required from the client illustrating the business is currently in operation (i.e. master business license) and appropriately insured.
- The loan will be used to expand and/or grow the business. Loan proceeds cannot be used to consolidate existing debt.
- Terms of repayment will be determined by The Business Centre Board Loan Review Committee.
- If the client is currently enrolled or was previously enrolled in a business training program the review committee will take this into consideration when assessing the individual's request.
- The participant must have permanent legal status in Canada and reside in either Nipissing or Parry Sound district.
- The participant must be 18 years of age and work a minimum of 20 hours per week in relation to the business that is applying for the loan.