1. Does Community Futures Heartland 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. However, if you are 29 years of age or less and are interested in starting a business, you may be eligible for a Young Entrepreneur Program (Grant), sponsored by Manitoban Education and Youth. You can find out more about this program by following this link: www.gov.mb.ca/healthyliving/youth/businesses/youngentrepreneurs.html Application forms can be obtained by calling 1-800-282-8069 ext. 4284, or, if you live in the Portage la Prairie area, you can pick one up at the Community Futures Heartland Office.

2. What other services does Community Futures Heartland provide?

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

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

3. Is there any charge for your services?

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

4. What are your loan terms?

All Community Futures Heartland loans are set at the TD Bank Prime plus 3-5% dependent upon Clients qualifications 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 upon several factors, those being the amount of equity the client is putting into the business, the amount of security being pledged, the serviceability of the loan, the number of jobs being created, and the need of the loan. Talk to one of our business analyst's to see how much you would qualify for.

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

Community Futures Heartland 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 Community Futures Heartland 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 assess 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 four weeks.

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

Community Futures Heartland can provide business loans to individuals operating or opening businesses in our member rural municipalities and towns.

10. Where are you located?

11-2nd Street NE, Portage la Prairie, MB, R1N 1R8
Phone: (204) 239-0135
Toll Free: (877) 472-7122
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Office Hours: Monday to Friday 8:30am to 4:30pm

11. What is your privacy policy?

• All material that an applicant provides to the Corporation in connection with a request for financing and other business inquiries is considered confidential and care is taken to ensure that the circulation of all such material relating to the fund is restricted to officers, staff, and Board Members of Community Futures Heartland Inc. only. Disclosures of information to anyone not authorized to deal with same is strictly prohibited.

• Where CF Heartland obtains credit and/or character references from outside sources, these are kept confidential and access to them without permission of the source will be denied.

• All information provided to consultants working for the Corporation becomes privy and must remain confidential.