Business Development Services

Community Futures Cedar Lake Region provides individuals wishing to start, purchase or expand small businesses with Technical and or Financial Support Services.

Technical Support Services

Community Futures Cedar Lake Region offers many services to new entrepreneurs and existing business owners. We offer access to resource and research material as well as provide general management consultation and assist in the development of business plans and cash flow projections.

Financial Support Services

Once a business plan has been developed, Community Futures Cedar Lake Region encourages clients to seek financing through traditional lenders. We may also provide loans through one of our Investment Funds, to qualified individuals with a viable business opportunity up to a maximum of $150,000.00 per business/individual or closely related venture.

Community Futures Cedar Lake Region uses a base rate of interest for the General Investment Fund, Disability Investment Fund and the RM Investment Fund.  The Base rate is then adjusted with a variance being added depending on the risk and duration of the loan. This rate is then fixed for the term of the loan, which cannot exceed five (5) years.

The interest rate on the Micro Loan Fund is set at a flat rate of 10% with a repayment term varying on the amount that the individual is borrowing. 

Loan Fund Information

General Investment Fund: Quick Facts;                         

Maximum Loan Amount:       $150,000

Maximum Term of Loan:       Five (5) Years

Who is eligible to apply:        Anyone in our service area

Disability Investment Fund: Quick Facts:

Maximum Loan Amount:       $150,000

Maximum Term of Loan:       Five (5) Years

Who is eligible to apply:        Anyone in our service area who self-identify as having a disability.

RM Investment Fund:  Quick Facts:

Maximum Loan Amount:       $150,000

Maximum Term of Loan:       Five (5) Years

Who is eligible to apply:        Anyone in our service area who reside in the boundaries of the RM of Kelsey.

Micro Loan Investment Fund:  Quick Facts:

Loans from the Micro Loan Investment Fund are available to anyone living within the Cedar Lake Region with the following provisions;

• The number of $1,000.00 loans shall never exceed five (5) in any given fiscal year.
• The number of $2,000.00 loans shall never exceed five (5) in any given fiscal year.
• The number of $3,000.00 loans shall never exceed two (2) in any given fiscal year.

To download the loan application package for any of the loan funds, please click here.

LOAN APPEAL PROCESS

If in the event that a loan application is denied by Cedar Lake Region, and the client wishes to appeal the loan decision, the following procedure will be followed:

The client must provide the IRC chairperson a letter stating that they wish to appeal the decision and reasons why. The IRC will review the loan application along with the letter of appeal at the next scheduled meeting and reply in writing to the applicant addressing the expressed concerns and clarifying the reasoning behind the loan decision.

If the client is unsatisfied with the written explanation provided by the IRC, the Client must then write an appeal letter to the Chairperson of Community Futures Cedar Lake Region clearly and factually outlining the bases for an another appeal, This appeal letter along with the loan application will then be presented to the Community Futures Cedar Lake Region's Board of Directors at the next scheduled meeting.  The client will then be informed of the decision in writing outlining the reason behind the decision.

If at this point, the client is still unsatisfied with the decision, the client then must:

• Write a letter to the Chairperson of Community Futures Cedar Lake Region outlining their wish to appeal the latest decision, and
• Provide Community Futures Cedar Lake Region written authorization to release all confidential information to Community Futures Investment Committee of Community Futures Manitoba.
• After the Chairperson receives the APPEAL LETTER AND INFORMATION RELEASE AUTHORIZATION, the loan application, including copies of all file documentation, will be forwarded to the Community Futures Investment Committee of Community Futures Manitoba.  Following a review of the appeal, this Committee shall provide clear, non-binding recommendations to the appellant and the referring Cedar Lake Region as to whether it’s  loan decision should be:
  • a) Upheld
  • b) Amended, including recommendations as to the specific amendments.

 The Committee will strive to provide the appellant and the referring CF organization with its recommendations within 15 business days of receiving copies of the appellants loan file.