Business Services

Business Counselling and Financial Services

Business Services

• Access to Small Business Information, Mentoring, Counselling and Advisory Services
• Assistance to Entrepreneurs
• Business Financing
• Business Improvement Workshops and Seminars
• Small Business Self-help Resource Centre
• Youth Entrepreneur Programming
• Youth Entrepreneur Loans
• CFDI Learn - On Line Learning Opportunities for Small Business Owners

Financing Program Criteria

• Our investment fund is available for financial assistance for start-up, expansion, and/or stabilization of a business located and operated within the District of Muskoka.
• To apply for business financing you must not be eligible for conventional bank financing. Financing may be provided where financing available from personal investment, financial institution and other sources is insufficient. Financial packaging with other lending institutions, such as the Business Development Bank, local Banks or Credit Unions will be encouraged
• Applicant must be a Canadian Citizen or Landed Immigrant

Business Financing Information

• Investments of up to $150,000 for business start-up, expansion or stabilization
• Investment in excess of $150,000 may be considered under special circumstances
• Competitive interest rates: Bank Prime + (2.25% to 6.0%)
• Flexible repayment terms to fit business needs
• No prepayment penalty
• No Grants, Forgivable Loans or non-business related Personal Loans
• Loan Guarantees or Equity Investments may be considered
• Young entrepreneurs (ages 18-34) may be able to access money for business venture start-up through special business loans of up to $15,000 through the Canadian Youth Business Foundation in partnership with Muskoka Futures.

The Application Process

Normally a 3 - 7 week process:

• Applicant submits a completed Business Plan, Business Financing Application and Personal Financial Statement(s) to the Muskoka Community Futures Development Corporation (Muskoka Futures) office
• Application is reviewed by Staff
• A Staff member will interview the Applicant and may require that additional information be submitted to make the credit assessment
• Presentation of completed Business Plan and Business Financing Application to Muskoka Futures Business Investment Committee for review/approval
• If approved, a Letter of Offer or Term Sheet is provided to applicant for signature
• Completion of documentation, including legal work and security procedures are undertaken
• Funds made available to applicant within 1 to 3 weeks after final level approval and acceptance of the terms

Business Financing Requisites and Credit Criteria

Specific financing criteria must be met, including:

• Employment creation/maintenance for local residents
• Business located in the Regional District of Muskoka
• Reasonable personal financial investment (10-25% of project)
• Acceptable credit records for business and principals
• Future economic viability of the business; ability to repay
• Competent management
• Adequate security for the venture (i.e. property, assets, personal and/or 3rd party guarantee, etc.)

Costs

There are no costs for having your Business Plan and Application for Financing reviewed. Applicants who are successful in securing financing will be responsible for legal costs and disbursements and other costs of processing and registration of the financing documents.

Applying For Business Financing

Step 1
Complete our Business Plan Template (Word / pdf), including all financial documents indicated. If you have already completed your business plan you will need to fill in the Business Financing Application (Word / pdf), Personal Financial Statement (Word / pdf), and Cash Flow Worksheet.

Step 2
Once you have completed all necessary templates and/or documents, fax (705.646.9522), email or deliver (111 Manitoba Street, Bracebridge) your package to the Muskoka Futures for review.

Step 3
Once received at Muskoka Futures our Business Consultant will contact you to see if we can help you with your business goals.

Muskoka Futures
111 Manitoba Street
Bracebridge, Ontario
P1L 2B6
705.646.9511 ext 27

We want to help you succeed!