While there is much less talk these days about the impacts of the COVID-19 pandemic, the Community Development Corp. (CDC) recognizes that many businesses continue to feel the effects and, in some cases, are still trying to catch up. CDC also recognizes the challenge that rising interest rates are causing.
That is why CDC has just released, for a limited time, flexible business loans for qualified applicants at prime interest rate.
“Even though sales may have rebounded to pre-COVID levels for many, we are hearing that businesses who faced mandatory closures continue to work hard on recovery. Providing loans with flexible terms and a low interest rate is just one of the ways we can help our community businesses,” said Wendy Timpano, General Manager of the Orillia Area CDC.
In an effort to support Orillia & Lake Country businesses, the CDC is offering a limited number of loans of up to $50,000 at prime rate to businesses in the tourism, retail, service and construction sectors. Applications will be evaluated on a first come, first served basis. The loans are meant to assist businesses who can benefit from support with their short- and medium-term cash flow needs, hence the name the Working Capital Loan Fund.
For more information on the Working Capital Loan Fund and to find out if you qualify, please visit www.orilliacdc.com/business-loans/ or contact CDC’s Senior Loans Officer, Susan Stacey at 705-325-4903 x 105 or [email protected].
Orillia Area CDC is one of 36 Community Futures Development Corporations (CFDCs) supported by the Government of Canada through the Federal Economic Development Agency for Southern Ontario (FedDev Ontario) to help rural businesses be the best they can be.
