Community Futures Triple R Box 190, Morris, MB - Phone: (204) 746-6180

FAQs

1. Does Community Futures Triple R provide any grants/non-repayable funding?

No, we offer financial assistance in the form of repayable loans to new or expanding businesses in our region.

2. What other services does Community Futures Triple R provide?

In addition to financial assistance, Community Futures Triple R can provide technical assistance in the following areas:

  • Business planning assistance
  • Assistance to access available government programs
  • Access to resource material
  • Preparing government applications for funding
  • Research information centre

3. Is there any charge for your services?

No. Community Futures Triple R is a non-profit organization operating under the umbrella of Western Economic Diversification, a department of the federal government. All of our services are provided free of charge.

4. What are your loan terms?

All Community Futures Triple R loans are set at prime plus 3% at a minimum of 6.5% at the time of signing and locked in at this rate for the term of the loan. Our repayment terms are set at a maximum of 5 years.

5. How much can I borrow?

Loan amounts are based on an assessment of the potential job creation of your business, following our mandated guideline of $10,000 to $15,000 per full-time job created.

6. What can loans be used for? Ie. Can I get a loan to purchase a vehicle for personal use?

Community Futures Triple R provides small business sector financing only. Eligible activities include:

  • Starting or expanding a business
  • Purchasing and applying new technology
  • Upgrading facilities and equipment
  • Developing marketing and promotions materials
  • Establishing working capital for anticipated sales increases

NOTE: Community Futures Triple R does not make personal or agricultural loans.

7. Do you require collateral for your loans?

Yes. We take business and/or personal assets as secured collateral on our loans similar to other lenders. However, unlike most other lenders, we are able to take second secured positions behind other financial institutions.

8. How long does it usually take to get funding?

A committee of our volunteer Board of Directors assesses funding applications on a monthly basis. As a result, the loan process usually takes between 2 to 3 weeks from the submission of your application until a decision is finalized, but can take up to 4 weeks. If the Board of Directors requires additional information the process could take longer.

9. Where do you have to live to borrow money?

Community Futures Triple R can provide business loans to individuals operating or opening businesses in our member rural municipalities and towns (see "Our Region" for further details). 

10. Where are you located?

Community Futures Triple R

220 Main Street North (Box 190)

Morris, Manitoba R0G 1K0

T (204)746-6180, F (204)746-2035

1-888-303-2232

www.cftripler.ca

https://twitter.com/CFTripleR