North Simcoe Community Futures Development Corporation logo

We Understand the Challenges Facing Local Entrepreneurs

We care about the community that you live in, it’s where we live too. Each year, we invest an average of 1.4 million dollars into local business start-ups, operations, and expansion. By putting money back into our community, we are giving our local economy the boost it needs to grow and thrive.

Small Business Loans

North Simcoe CFDC offers support for your business dream with loans of up to $150,000. If you need more than $150,000, our team can help you access additional funds by partnering with other lending organizations. If your idea is exceptional and will have wide-reaching benefits for the community, loans of $300,000 may be made available at the discretion of our Board of Directors. Contact us to discuss your financial needs.

Our Loan Application
Cash Flow Template

Microloans

A microloan is a small loan made for start-ups and small businesses. Microloans offer flexible repayment terms and interest rates lower than those available through larger lenders.

Microloan funding is available up to a maximum of $10,000 but is still subject to specific criteria and approvals, per the policies of the North Simcoe CFDC.

For new businesses or start-ups, a business plan, projected cash flow statement, and a personal financial statement is required. For businesses already in operation, your application needs to be supported with financial statements.

Southern Ontario Fund for Investment in Innovation

The Southwestern Ontario Fund for Investment in Innovation (SOFII) program supports high-growth, innovative small and medium-sized enterprises (SMEs) in communities like ours by offering loans of up to $1 million to support business growth and development.

The SOFII loan fund helps to spark increased investment and support for high-growth companies in Southwestern Ontario. Launched by the Government of Canada in July 2012, SOFII is supported through the Federal Economic Development Agency for Southern Ontario (FedDev) and delivered by the Western Ontario Community Futures Development Corporation Association (WOCFDCA).

Contact us to speak with a team member about the SOFII fund.

Southwestern Ontario Fund for Investment in Innovation (SOFII)
Federal Economic Development Agency for Southern Ontario
Western Ontario Community Futures Development Corporation Association

Western Ontario Rural Capital Pool

North Simcoe CFDC participates in the Western Ontario Rural Capital (WORC) Pool, established by the Western Ontario Community Futures Development Corporation Association (WOCFDCA) in March 2016. The WORC Pool supports us in accessing funds for our local entrepreneurs, boosting lending capacity to small businesses throughout Southwestern Ontario, and supporting projects that drive regional business diversification. If you are interested in learning more about the WORC Pool funding, please contact our team.

Western Ontario Community Futures Development Corporation Association (WOCFDCA)

Request a Free Coaching Session

Our team is here to help you navigate your business journey. We will guide you through the steps that will take you from idea to operation, and continue to support you as a member of our local business community.

Loan FAQ

Loans are available to start your business, help you buy an established business, and contribute to your existing business’s operation or growth.
We support all types of small to medium-sized industries and businesses to create and sustain permanent jobs in North Simcoe.

The best place to start is to schedule an appointment with a member of our team by booking a free Business Coaching Session 

General eligibility requirements:

  • Your business is in the North Simcoe area
  • You are involved in the regular operations of the business
  • You are of legal age and a resident of Canada
  • You have submitted a complete loan application with the required documents.

We want you to succeed and provide you with the resources, advice, guidelines, and proper forms to make writing your plan as easy as possible, but we are not permitted to write the plan for you. You can get started with our Business Plan Template.

Our volunteer Loan Review Committee (LRC) reviews your loan application and business plan. Members of the LRC represent the local business community and donate their time and skills to help develop and enhance the North Simcoe economy. The process depends on each unique application, with a response from 4 to 6 weeks.

Yes. Our office works collaboratively with other lenders and funders.

If you intend to submit a loan application, be prepared to make a personal investment. We ask that you provide cash plus security (such as vehicles, equipment, land, buildings, etc.) to back the loan. This shows that you are committed to making your business work.
Yes. North Simcoe CFDC will run a credit check on you or your incorporated company to see if you have dealt responsibly with past loans and debt. A poor credit rating is a concern to most lenders, including our office.