Community Futures East Interlake is a source of financing for entrepreneurs as well as small and medium sized businesses. Whether you are looking to start a business, buy a business or expand your business, Community Futures East Interlake is here to help.

While many traditional lenders will shy away from entrepreneurs - and particularly startups - because of their increased risk, Community Futures East Interlake will look favourably at factors like job creation, new services coming to an area and the fundamentals of your business plan when making our decision. 

Click here you want to learn more about our loan application process. Otherwise learn more about our different loan programs below.

Regular Loan

Maximum Amount: $150,000
Lending Rate: CIBC's PRIME Lending Rate plus 3.0-6.0% (depending on security)
Equity Requirement: 10%
Fees: $150.00 for application. If the application is approved, additional fees will apply, including a loan commitment fee equal to 0.5% of the loan amount (minimum $25.00, no maximum)

Click here to download an application for our Regular Loan.

Entrepreneurs with Disabilities

Maximum Amount: $150,000
Lending Rate: CIBC's PRIME Lending Rate plus 3.0-6.0% (depending on security)
Equity Requirement: 5%
Fees: $75.00 for application. If the application is approved, additional fees will apply, including a loan commitment fee equal to 0.5% of the loan amount (minimum $25.00, no maximum)
Other Conditions: To Self-Identify as living with a disability or health condition and be over the age of 18

Click here to download an application for our Regular Loan, and specify it is for our Entrepreneurs with Disabilities Fund on page 4.

Youth Entrepreneur

Maximum Amount: $100,000
Lending Rate: CIBC's PRIME Lending Rate plus 3.0%
Equity Requirement: 5%
Fees: $50.00 for application. If the application is approved, additional fees will apply, including a loan commitment fee equal to 0.5% of the loan amount (minimum $25.00, no maximum)
Other Conditions: To be 18-35 years of age

Click here to download an application for our Regular Loan, and specify it is for the Youth Fund on page 4.

Micro Loan Program

Maximum Amount: $50,000
Lending Rate: CIBC's PRIME Lending Rate plus 3.0-6.0% (depending on security)
Equity Requirement: 10%
Fees: $50.00 for application. If the application is approved, additional fees will apply, including a loan commitment fee equal to 0.5% of the loan amount (minimum $25.00, no maximum)

Our Micro Loan is a more streamlined application process than our Regular Loan, not requiring a completed business plan.

Click here to download an application for our Micro Loan.

Youth Micro Loan Program

Maximum Amount: $4,000
Lending Rate: CIBC's PRIME Lending Rate plus 2%
Other Conditions: Must be a minimum of 15 years of age and a student in High School or Post Secondary

Recipients of the Youth Micro Loan who pay their balance on time are eligible for other loans from Community Futures East Interlake at the reduced rate of 2% if they take out that new loan within one year of their graduation date.

Click here to download an application for our Youth Micro Loan.

Fishing Loan Program

Maximum Amount: $5.00 per pound on license, maximum $45,000
Lending Rate: CIBC's PRIME Lending Rate plus 3.0-6.0% (depending on security)
Application Fee: $50.00
Other Conditions: Must be spent on fishing license

Click here to download an application for our Fishing Loan.

Things to Keep in Mind

Our loans are available to startups, small and medium sized businesses, offer flexible repayment terms and have flexible equity requirements. All of Community Futures East Interlake's loans are repayable, meaning there are no grants or forgivable portions and businesses that receive assistance from Community Futures East Interlake must be based within the geographic boundaries of the region and meet the criteria of the loan program they wish to apply for. 

Loan proceeds can be used for a variety of business start-up or expansion needs. However, there are established lending guidelines that clearly outline how those proceeds can be used. For easy reference, the guidelines on the fund usage as well as a list of all the information and documents you will need to apply can be found at the beginning of each program loan application. The average timeline from application to approval and disbursement is about four weeks. 

While the largest loans that we offer in house are $150,000, we are able to partner together with other institutions to lend more. We are also able to act as a guarantor for lines of credit, with a 1.5% per year administration fee. So if your business' needs are not reflected in the products offered on this page, still contact us to discuss other opportunities that might be available.

If you have applied for a loan with Community Futures East Interlake, your application was rejected and you wish to appeal, click here to download our fillable form to begin the process.

Are you interested in finding out more about our Loan programs, need help with the application or are unsure of the amount to apply for? Simply click here to talk to one of our knowledgeable staff today.