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Applying for a CDC Loan
How to qualify:
- Your business must be feasible. It must have the potential to succeed and repay our loan.
- You must have explored getting bank financing.
- You must submit a detailed business plan and loan application outlining your proposal.
- Download the Loan Application or Business Plan with Loan Application now. *Note: you will need Adobe Reader to view these documents. Get Adobe Reader now.
- You must provide collateral security for the loan. We are more flexible than traditional lending institutions in the types of security we accept and the values assigned to that security.
- All loan applications must create or maintain jobs within the Orillia area.
- Click HERE for a map of our catchment area.
Financing Terms
- Loans are at a fixed percentage rate between CDC Base Rate (currently 6%) +2% and +6%. This rate is based on several factors. Those include the applicant's business experience, credit history, risk of the loan and available security.
- Repayment schedules are flexible. They will be geared to the needs of the business.
Approval Process
- All CDC loans are approved by a volunteer investment committee. They represent most sectors of the local business economy.
- The approval process takes approximately two to six weeks, depending on the nature of the business.
Fees
A $300 application fee is charged against all successful loan applications.
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