Loan | PELA CFDC

             

Apr 23, 2017
News and Events
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Friday, October 14
Four Lennox & Addington County Businesses Receive EODP Support
October 28, 2016 – Lennox & Addington County The Prince Edward/Lennox & Addington Community Futures Development Corporation (PELA CFDC) and ...Full Story
Friday, October 28

Loan

Click here to download a Loan Application Form

PELA CFDC provides financing up to $250,000 for new or existing businesses in Prince Edward/Lennox and Addington Counties.

Purpose of Financing

  • Start up financing for a new business
  • To purchase or renovate a building
  • Leasehold improvements
  • Equipment purchases or upgrades
  • Inventory
  • Working Capital

We currently have the following Loan Product promotion available:

Loan Process

Meet with our Business & Investment Advisor

Applications are reviewed by an Investment Committee that meets once per month. The next upcoming application deadline dates are as follows:

  • May 18, 2017
  • June 15, 2017

Apply Now

Contact Information

Carla Vincent, B.Comm.(Hons.), B.Sc., B.Ed., AMP                                                                    Business & Investment Advisor
email:  cv@pelacfdc.ca
Phone:  613.476.7901 ext 208

Loan Criteria

Loan applications are considered on the basis of:

  • Business viability
  • Client character; technical and management skills
  • Adequate security
  • Owner’s investment
  • Credit Worthiness

Business Advisory Services

  • Free one-on-one business consulting
  • Get advice for general business guidance or for a specific problem that your business may be encountering

Information/webpage links for new businesses

 

  • Business insurance
    • All businesses require some form of insurance. Here is a list of the types of insurance you may need to consider:
      • General liability
      • Errors & Omission (sometimes called Professional Liability Insurance)
      • Inventory and Assets
      • Vehicle
      • Bonding
  • Check with your municipality before you begin.
    • Is the property zoned for the type of business you will undertake?
    • Does the building have any restrictions for its use?
    • What are the sign by-laws?
    • Is a permit/license required from the city/town for your type of business?
    • Are there any parking restrictions or requirements?
    • Is there a home-based business by-law that will affect you?
  • Most industries in Ontario are covered by the Workplace Safety and Insurance Board. Employers must pay into the fund of the Board through assessments on their payroll. Check with WSIB www.wsib.on.ca

 

 
“Dealing with the EODP was incredibly easy and the process required minimal time.  Staff was very helpful." - Howard Mahon, Wilton Tack
 
“Without PELA CFDC's support we would not have had the ability to take those much needed first big steps. You believed in us at a time when few did.” - Quincy Emmons, Fire X Protection
 
“We recommend the EODP funding to any business that believes in continuous improvement and development, and who is looking to fast forward business growth.” - Angela Lees, Calderwood Automation
 
"The connections I made and support system that was available during and after the program really helped. - Renia Tyminski, Hallowell Gardens Centre
 
"The in class portion of the Ontario Self Employment Benefit Program was the most beneficial for me... I was given the resources and one-on-one guidance I needed to map out a successful plan. - Rob Fenwick, Former SEB Client