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Business Development Programs and Financing

General Loan Fund

In addition to providing excellent business counseling, Community Futures Centre West can lend a maximum of $150,000 to new and existing businesses. The business must be located within the Community Futures Centre West region for the term of the loan. These loans are made available to community members with viable business ideas that are seen to contribute to the economic and social well being of their community. Loans received from Community Futures Centre West are fully repayable and are negotiated at competitive interest rates.

Loans can be used for:

  • Starting or expanding a business
  • Applying new technology to your business
  • Upgrading facilities and equipment
  • Developing marketing and promotions material
  • Establishing working capital for anticipated sales increases

Self Employment Program

The Self Employment Program is offered to unemployed Albertans who have identified and researched a viable business idea that matches their skill and financial situation. Individuals who have identified a feasible business concept may be eligible to participate in this 26 week small business training program. Successful applicants will receive training and guidance in business planning, marketing, introductory bookkeeping and financial management and other aspects of running their own business. For more information click here.

Entrepreneurs with Disabilities Program

This program is designed to make it easier for entrepreneurs with disabilities to pursue their business goals and contribute to economic growth within their rural community.

To qualify for the Entrepreneurs with Disabilities program you must:

  • Live in the Community Futures Centre West Region
  • Have a disability that impairs your ability to perform at least one of the basic activities of self-employment or entrepreneurship

The program offers:

  • Assistance in developing a business plan
  • Business loans up to $150,000, the terms of which are specifically tailored to address each individual entrepreneur's needs and are repayable at competitive rates

Loans can be used for:

  • Starting or expanding a business
  • Applying new technology to your business
  • Upgrading facilities and equipment
  • Developing marketing and promotions material
  • Establishing working capital for anticipated sales increases

Western Youth Entrepreneur Program

To qualify for a Western Youth Entrepreneur program you must:

  • Have a creative, viable business idea or plan
  • Be between 18 and 29 years old
  • Live in the Community Futures Centre West Region

The program offers:

  • Assistance in developing a business plan
  • Access to a wealth of information such as export and trade, selling, government markets, accessing other loan programs and government business services
  • Business loans of up to $25,000 the terms of which are specifically tailored to address each individual entrepreneur's needs and are repayable at competitive rates

Loans can be used for:

  • Starting or expanding a business
  • Applying new technology to your business
  • Upgrading facilities and equipment
  • Developing marketing and promotions material
  • Establishing working capital for anticipated sales increases

Canadian Youth Business Foundation

Canadian Youth Business Foundation (CYBF), is a national charity that provides start-up mentoring, financing and business resources for young Canadians, age 18-34, to create their own successful businesses.

Founded in 1996, CYBF is truly unique. It's an organization that is all about dreams, energy and momentum. It's an organization that supports youth who would not otherwise have the opportunity to realize their full potential to launch a business. It's an organization that is helping to drive the Canadian economy by leading the future development of youth entrepreneurship both domestically and internationally.

Community Futures Centre West is a proud partner of CYBF. Through our office, individuals can apply for up to $15,000 funding. For more information on CYBF services visit http://www.cybf.ca or call CYBF at 1-800-464-2923.

Summer Student Loan Program

This program assists youth aged 15-29 obtain an interest free loan of up to $3,000. Student entrepreneurs use this money to operate their own business during the summer months. The financing can be used for start-up costs and operating costs. The loan is interest free until Oct 31st of the current calendar year, when repayment is due. You must be returning to school in the fall to be eligible for this program. Applications are accepted from April 1- June 30th of each year.

Partner Co-loans and Programs

For those entrepreneurs who require more financing than $150,000, Community Futures Centre West has several lending partners that we can contact to provide additional loan assistance. We partner with such organizations as the Agriculture Financial Services Corporation, the Business Development Bank of Canada, Alberta Women Entrepreneurs and the Canadian Youth Business Foundation to find suitable financing for your needs. Please contact us for further details.

Frequently Asked Questions

Q: What do I need to apply for a loan through Community Futures Centre West?
A: Community Futures Centre West does not compete with the banks for financing but rather provides alternative sources of financing for those who cannot be approved through normal channels. In other words, we are an alternative lender. To apply for a loan, you need to have been declined for financing from a traditional lender. We also require a full business plan and a minimum of 15% equity into the business. We can be somewhat flexible on 15% equity, depending on other factors pertaining to the loan request, but it is unrealistic to expect to receive 100% financing for your business. Generally speaking, the more equity provided the better the chances are that the loan may be granted.

Q: Do I need a down payment to borrow money from Community Futures Centre West?
A: Each loan request is analyzed on its own merits. Therefore, the equity requirement to secure a loan with our office is flexible, depending on other factors pertaining to the loan request.

Q: How long does it take to get a loan through Community Futures Centre West?
A: The loan process usually takes a minimum of 4 to 6 weeks for approval. Please note that this timeline begins after the finalizing of the business plan. The time it takes to research your business and prepare your business plan is in addition to the timeline stated above.

Q: Are there any grants (i.e.. non-repayable loans) available for starting a small business?
A: The grants that are currently available are industry specific and most businesses cannot qualify for them. For a list of these grants, go to the The Business Link, and look in the financing section.