Stress-free
financing for local
entrepreneurs
and
businesses

We offer term loans up to $150,000

to qualifying small and medium-sized companies for start-up, relocation, maintenance or business expansion in Renfrew County.

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We offer flexibility with repayment terms and monthly payment management.

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We often offer special loan programs that respond to the needs of our community and local economy; it’s never a one size fits all approach.

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We spend valuable time getting to know the business and owner on a personal level.

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We know that for businesses to be successful, support has to go beyond a transaction.

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We provide ongoing free advisory services and go the extra mile to refer you to other programs that will help you reach your goals.

Purposes of Financing
  • Start-up financing for new businesses
  • Leasehold improvements
  • Equipment purchases
  • Inventory
  • Working capital
  • Purchase or renovate a commercial property
  • Purchase vacant land to construct new
    commercial building, or for farming
Application Process
  1. Click on the Loan Application button located at the top of the page to access the business loan application.
  2. Submit your completed application with the accompanying loan application fee. (A Loan Application Fee of 1% (minimum $250) of the requested amount must accompany all loan applications. The application fee is collected on the understanding should the loan request not be approved, the full application fee will be returned. The Loan Application Fee will not be returned if the application is approved or withdrawn once a Discussion Letter has been signed.)
  3. A credit check will be conducted on all applicants.
  4. Supply any additional information requested.
  5. Our Business Development Officer (BDO) will analyze your loan application and present you with a discussion letter, outlining the loan terms as they will be presented to the committee, to be signed by the applicant.
  6. Loans are presented to the RCCFDC Investments Committee (comprised of local volunteers) for approval. ( it to the Investment Committee. Decisions are based on the viability of your proposed business, available security, the impact of job creation or maintenance and the impact on the community.)
  7. The BDO will then contact you regarding the committee’s decision. If your loan has been approved, you will receive a “Letter of Offer”, outlining the terms and conditions of the loan.
  8. Upon acceptance of the Terms and Conditions set out in the offer, we will commence the preparation of legal documents.
  9. Once the security documents are completed, with all terms and conditions met, funds will be disbursed.
Application Requirements

Businesses applying for financing must be located in the County of Renfrew or the City of Pembroke.

In order to apply for financing, the following documentation is required;

  • Completed Loan Application
  • Statement of Personal Assets and Liabilities
  • Business Plan (in absence of a Business Plan, a business model canvas)
  • Cash Flow
  • If purchasing land or building, a signed Offer to Purchase, conditional on financing
  • A detailed listing of equipment and inventory to be purchased
  • Loan Application Fee

For existing businesses, please also attach:

  • The past 3 years’ financial statements and/or Revenue Canada
  • Statement of Business Activities (Form T2125)Revenue
  • Canada Notice of Assessment (T2 for Corporations)Current HST Return for Registrants
  • Confirmation that WSIB and Source Deduction payments are up-to-date
  • Articles of Incorporation and/or Trade Name Registration

*Note: A Loan Application Fee of 1% (minimum $250) of the requested amount must accompany all loan applications. The application fee is collected on the understanding should the loan request not be approved, the full application fee will be returned. The Loan Application Fee will not be returned if the application is approved or withdrawn once a Discussion Letter has been signed.

Evaluation Process

All financing decisions are made at the community level by our local Investment Committee, made up of entrepreneurs and experts in their field.

The following criteria will be taken into consideration when reviewing loan applications:

  • Business location (must be located in Renfrew County)
  • Applicant must be 18+
  • Purpose of the financing request
  • Reasonable expectation of economic viability
  • Creation or maintenance of jobs
  • The character of the Client including their credit history
  • Personal investment or financial commitment
  • The security offered to protect the investment
    Appeal Process

    Renfrew County Community Futures Development Corporation (RCCFDC) takes pride in its long history of working with small business clients in the region. We encourage applicants to have a strong business plan and credit score before applying. Many applicants have been very successful with their loan requests in our 35+ year history.
    All declined loans are immediately discussed by the Business Development Officer with the client by phone and followed up in writing by the Executive Director with information on how to appeal a loan decision.
    At any point following the loan rejection and/or during the appeal process, applicants have the option to re-apply for financing with a new and improved application package. This will be considered a new application.
    All appeals must be made in writing to the Executive Director and/or the Chair of the Board of Directors at info@rccfdc.org within seven (10) days of the date they were notified of the rejection. RCCFDC reserves the right to charge a $250 loan appeal fee.
    The Board of Directors will create an Appeal Sub-committee consisting of Five (5) Directors who did not sit on the Investment Review Committee to discuss the specific loan under appeal.
    The loan appeal is presented by the Executive Director and/or Board Chair to the Appeal Sub-committee within ten (10) days.
    The Appeals Sub-committee’s decision is considered final and the applicant will be notified in writing within two (2) days.

    Business Loans

    Provided to SMEs up to a maximum of $150,000 and 5-year term, 15-year amortization, the minimum interest rate charged is charter bank prime + 2%. Businesses that have been turned down by a bank, or require more money than the bank can offer are eligible for CFDC financing.

    Do your needs exceed $150,000? We will work with you to see what flexible options are available.
    Contact us today to discuss how we can help.

    Start-Up Loan


    In responding to the changes being faced by the manufacturing sector, we have designed a loan program to encourage the development, growth and start-up of businesses.

    Apply Now

    Artisans Loan


    This loan is available to all individuals associated in the artisan industry and can be used by artists & craftspeople to expand and promote their business.

    Apply Now

    Seasonal Loan


    This loan program is specially targeted at supporting business both directly and indirectly affected by the Forest Industry.

    Apply Now

    Forestry Loan


    This loan program is specially targeted at supporting business both directly and indirectly affected by the Forest Industry.

    Apply Now

    Agriculture Loan


    This loan is available to the agricultural industry to assist with the development of new and innovative agricultural products and services.

    Apply Now

    Hospitality Loan


    The Hospitality Industry is one of the toughest industries to secure funding from a traditional lender. We have developed a loan package that understands the obstacles facing many of the business owners in this industry sector and the overall impact their business may have on a community. The loan offers a flexible repayment schedule that follows the cash flow of their business.

    Apply Now

    Tourism Loan


    Businesses in the Tourism Industry are affected by a number of factors outside of their control causing ongoing changes in their financial needs. The Tourism Loan is designed to recognize the impact these changes cause and provide a loan product that can be specifically tailored to meet the needs, timing and cash flow situation of each individual applicant.

    Apply Now

    Social Enterprise Loan


    We provide financing to Social Enterprises in Renfrew County. A social enterprise is a business, who produces goods and services for the market economy, but who manage their operations and redirect their surpluses in pursuit of social, environmental and community goals.

    Apply Now

    Micro Loan


    Giving you the help you need, when you need it! We recognize that sometimes a business just needs a little financial boost. Our micro loan program for loans up to $10,000 can assist businesses that have been in operation for at least 12 months with a streamlined process.

    Apply Now

    Innovation Loan


    To help entrepreneurs who are looking to develop new products or find new ways to offer existing products through innovation

    Apply Now

    Manufactures Loan


    In responding to the changes being faced by the manufacturing sector we have designed a loan program to encourage the development, growth and start-up of businesses.

    Apply Now

    Accessibility Loan


    This loan is available to all property owners of a business and not-for-profit locations that will need to complete renovations/upgrades to their facilities to meet the new Accessibility Standards.

    Apply Now

    Property Improvement Loan


    The goal of this Loan is to provide funds to support capital improvement that will assist in the long term economic development of Renfrew County. Through providing access to capital for building retrofit, our region will benefit from more desirable options for places to conduct business, while limiting the financial burden for building improvements.

    Apply Now

    Funding

    Funding opportunities advance economic development in rural eastern Ontario by contributing to the growth of businesses and communities. Check this page regularly to find out more about the current opportunities offered by Community Futures and our partner organizations

    Currently Available:
    Francophone Wage Subsidy

    The Francophone Wage Subsidy program enables RCCFDC to offer a 50% wage subsidy to Renfrew County employers as an incentive for employers to hire francophone individuals for full-time positions. These employees/employers will participate in 2 training sessions offered in French.

    The project will also provide 4 networking opportunities for francophones struggling with English, and anglophones struggling with offering services in French, to come together and practice second language skills. By promoting the recruitment and training of bilingual staff, this project will ultimately strengthen the capacity of organizations to provide products and services to Francophones in the County of Renfrew.

    Are you an employer looking to hire francophone staff?

    Contact us today to learn more.