CDC Offers Local Businesses a New Micro-Lending Pool

CDC Offers Local Businesses a New Micro-Lending Pool

October 14, 2011 (Orillia, ON) - The Orilllia Area Community Development Corp. (CDC) is pleased to celebrate Small Business Week (Oct. 17-21) with the development of a new "Micro-Lending Pool" to support local businesses who qualify with loans of up to $10,000. See Micro-Lending Guidelines 

"While we have always offered loans to all types of businesses and for varying purposes in our area, we have now set aside a designated pool of money to support start up businesses and those looking to expand who may only require a loan of $10,000 or less," said Wendy Timpano, General Manager of CDC.

Applications to this pool will be accepted from new clients only and the loan can be used to support things such as starting a new business venture, expanding to a new market, certification, capital purchases, and marketing promotions.

The CDC tries to be as flexible as possible in lending where traditional lenders cannot fill the entire need.  Consequently, the approval of loan applications will depend on a sound business plan.  For business owners who have not already completed a business plan, the CDC can provide you with the necessary guidance and/or templates to complete your plan.

"We are also encouraging students and recent graduates who are 18 years of age or older and looking to start or expand a business to contact us," said Timpano.  " The first step is to call our office and make an appointment."

The CDC is a federally funded, volunteer driven non-profit organizaiton designed to foster the creation of new jobs by helping business start-ups or expansions.  The CDC's mission is to support the development of sustainable communities through community economic development and small business activities.

Interested business owners are invited to contact the CDC to learn more about the program by calling 705.325.4903 or visiting www.orilliacdc.com.

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