General

1) Where is Community Futures East Interlake located?
62 - 2nd Avenue, Box 1620 Gimli, Manitoba R0C 1B0. We are on the second floor of the Gimli Municipal Building.

Simply enter from the front door of the Municipal Building, walk forward until you are almost to the Municipal Office, then either take the door to your left to take the stairs up or turn right to take the elevator. When you reach our door, just ring the doorbell and we will be right there to help you.

2) What services does Community Futures East Interlake provide?
Assistance is available in the following areas:

• Business Services:
  • Financial Assistance to New or Expanding Businesses
  • Free Business Planning Assistance
  • Free General Business Counseling
• Community Support Services:
  • Community Planning
  • Market Surveys & Data Collection
  • Funding Applications
  • Research Assistance

3) What is the cost of the services that Community Futures East Interlake provides?
Community Futures East Interlake's funding is provided through a number of sources, such as grants from the Federal Government through PrairiesCan and interest from loans we issues. Because of this, we offer almost all of our services free of charge. So feel free to contact us about any business of community economic development question you may have. We are here for you. 

Business & Financial

1) Does Community Futures East Interlake provide any business grants, forgivable loans or non-repayable funding?
No, the financial assistance we offer comes in the form of repayable loans to new or expanding businesses in the region. However, there are a number of grant programs available to entrepreneurs and small to medium sized businesses. Check out the Business Benefits Finder to search for funding that might apply to your business. 

2) What Loan Programs are available?
The loan programs that are available are:

• • Regular Loan Program
  • Entrepreneurs with Disabilities Loan Program
  • Youth Entrepreneur Loan Program
  • Micro Loan Program
  • Youth Micro Loan Program
  • Fishing Loan Program

You can find out more about our loan programs by clicking here.

3) What are the terms and conditions that apply to Community Futures East Interlake funding?

The terms and conditions differ depending on the loan program you are applying for. You can find out more about the specifics by reading each application.

• • Regular Loan Criteria
  • Entrepreneurs with Disabilities Criteria
  • Youth Entrepreneur Criteria
  • Micro Loan 
  • Youth Micro Loan
  • Fishing Criteria

You can find out more about our loan programs by clicking here.

4) Is collateral or equity required for a loan?
Yes each loan program has a different equity requirement. They are:

• • Regular - 10%
  • Youth Entrepreneur - 5%
  • Entrepreneurs with Disabilities - 5%
  • Micro - 10%
  • Youth Micro Loan - No Requirement
  • Fishing - 20%

You can find out more about our loan programs by clicking here.

5) What interest rate is applied to a loan?

• • General - CIBC Prime Lending Rate plus 3%-6%, Base rate of no less than 6%
  • Youth Enterpreneur - CIBC Prime Lending Rate plus 3%
  • Micro Loan - CIBC's Prime Lending Rate plus 3-6%
  • Youth Micro Loan – CIBC Prime Lending Rate plus 2%
  • Entrepreneurs with Disabilities - CIBC Prime Lending Rate plus 3%-6%, Base rate of no less than 6%
  • Fishing - CIBC Prime Lending Rate plus 3%-6%, Base rate of no less than 6%

You can find out more about our loan programs by clicking here.

6) What is the maximum amount of funding I can receive?

The amount of funding you can receive with a Community Futures East Interlake loan is dependent on the loan program you apply for.

• • General - $150,000
  • Youth - $100,000
  • Entrepreneurs with Disabilities - $150,000
  • Micro Loan - $50,000
  • Youth Micro Loan - $4,000
  • Fishing - $45,000

You can find out more about our loan programs by clicking here.

7) What are the necessary requirements for a loan application?
While the requirements vary slightly for each different type of loan program, there are fundamental requirements that are needed regardless of what type of loan you are seeking. You can find them in our Loan Application Process Requirements document.

8) How lengthy is the loan application process?
The process for applying for a loan through Community Futures East Interlake will take approximately 4 weeks from the time the information required is received by the Community Futures East Interlake office.

9) What can loan proceed be used for?
Loan proceeds can be used for a number of business start-up or expansion requirements. There are, however, established general lending guidelines that specify what the loan proceeds can be used for. You can find them in our General Lending Guidelines.

10) Does Community Futures East Interlake help with the formation of a business plan?
Yes, our staff is well equipped with the tools needed to help you with your business plan. We provide you with a comprehensive resource library and business planning workbook that makes it easier for you to create your business plan. You can find out more about how to get started with your business plan here. 

11) How do I apply?
Contact us to make an appointment to discuss your business idea and financing needs.

12) Where do I have to live to receive funding or assistance?
You do not have to live in the Community Futures East Interlake region to receive funding. The business however must operate in the region.