Women in Business Loan

Overview of the Women in Business Loan program:

Wakenagun CFDC’s Investment Fund – “Women in Business” Loan provides funding for women to enter into business ownership. Funds may be used for new or existing businesses. Program Guidelines: ➤ The maximum loan amount is our Investment Fund maximum amount ➤ Funds may be used for new or existing business

Benefits of the Women in Business Loan program:

• Repayment terms are based on the amount borrowed and available cash flow with a maximum term of five years
• Interest rate is equal to the prime interest rate published by the Bank of Canada at the time of application, plus an increase between 2-7% depending on the amount of risk determined
• Loans are repayable at any time without penalty
• Cash equity of 10% is required.

Eligibility criteria of the Women in Business Loan program:

• Women who have an interest in the following: sole proprietors, partnerships, and corporations may apply,
• Applicants MUST be a woman with majority ownership in the business
• Business must be located within the boundaries of the Wakenagun catchment area