Youth Entrepreneurs Investment Loan

Northwest CFDC, throughits staff and Board of Directors, administers a small business investment fundto assist in the establishment or expansion of small business in the northwestregion of Manitoba.The fund is intended as a lender of last resort, and provides repayable smallbusiness loans; loan guarantees, and in certain cases, will consider equityparticipation.

The YouthEntrepreneurs Investment Loan Fund is one such fund offered by Northwest CFDC in order to assist young entrepreneurswith business startup or expansion.

Am I eligible?
Applicants must be between the ages of 18 and 25. All business sectors arepotentially eligible and will be considered, although certain sectors may begiven higher priority as a result of opportunities and objectives identified byNorthwest CFDC.

Is this a grant?
No. Northwest CFDC will only consider loans,loan guarantees, or equity participation. All funding is repayable withinterest rates equivalent to bank prime plus 1% to 3%.

What is the maximum,which can be borrowed?
The maximum amount which can be loaned to any individual, or business underthis particular program is $10,000. It should be noted that the level offunding released would be directly related to the details and feasibility ofthe submitted business plan.

How much equity isrequired?
A minimum of 10% equity is required, and business and personal collateral maybe requested to secure the financing provided.

How can I apply?
The staff at Northwest CFDC will assess a potentialapplicant's eligibility, assist in completing application forms, and provideinformation required to prepare a business plan. The application is thenreviewed by the volunteer Board of Directors.