Youth Entrepreneurs Investment Loan

Northwest CFDC, through its staff and Board of Directors, administers a small business investment fund to assist in the establishment or expansion of small business in the northwest region of Manitoba. The fund is intended as a lender of last resort, and provides repayable small business loans; loan guarantees, and in certain cases, will consider equity participation.

The Youth Entrepreneurs Investment Loan Fund is one such fund offered by Northwest CFDC in order to assist young entrepreneurs with business startup or expansion.

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

Is this a grant?
No. Northwest CFDC will only consider loans, loan guarantees, or equity participation. All funding is repayable with interest 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 under this particular program is $10,000. It should be noted that the level of funding released would be directly related to the details and feasibility of the submitted business plan.

Howmuch equity is required?
A minimum of 10% equity is required, and business and personal collateral may be requested to secure the financing provided.

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

For more information, CONTACT US.