Since 1986, Community Futures of Canada has been instrumental in supporting small businesses and promoting rural economic diversification, thanks to a presence in 269 offices nationwide. Since September 1986, over $60 million has been provided through more than 900 small business loans, helping support over 550 businesses in the Lac La Biche region.
CFLLB has more than 30 years’ experience in helping small businesses grow and succeed through a variety of programs and services. The combination of business professionals and a volunteer-led Board of Directors ensures diversity when it comes to addressing issues and creating new initiatives.
The overarching goals of CFLLB are to help small businesses start, grow, expand, franchise, or sell their business; and to help drive rural economic diversification.
One of the cornerstone services offered by CFLLB are their flexible business loans. These come in three categories: up to $150,000 for business loans, up to $20,000 for micro loans, and up to $20,000 through a line of credit. Each loan comes with a competitive business rate, designed to help small businesses get ahead.
In addition to financial assistance, CFLLB offers business coaching and training programs, one of which is the Entrepreneurs with Disabilities Program (EDP). To be eligible for the EDP, applicants should have a self-declared disability or an ongoing medical condition and reside in rural Alberta. A viable business idea is required, along with the capability to contribute to the business in some meaningful way.
The Capital Growth Initiative Loan is designed to empower women entrepreneurs in Alberta by offering unsecured, conditionally repayable loans ranging from $10,000 to $75,000. Key features include an interest rate of Prime + 2% for a 5-year term, with the first 6 months requiring only interest payments. A unique aspect is the forgivable 25% portion of the loan if 75% is repaid within the term. The loan supports operating capital, equipment, leasehold improvements, inventory, and non-owner salaries, but not debt repayment. Eligible applicants must be 50.1% women-owned businesses registered in Alberta.
CFLLB’s consultants provide one-on-one appointment-based support. Guidance covers everything from scaling your current operations to conducting feasibility studies for new business ideas. CFLLB also provides research on available government grants that could benefit your business. They facilitate networking opportunities with like-minded entrepreneurs and local business leaders. There is also support for help with business plans, making hiring decisions, fleshing out marketing strategies, finding places to rent, help with exit strategies, and so much more.
CFLLB has a variety of free training programs and workshops to help entrepreneurs develop and enhance their skills. Stay tuned to the events page on their website to be in the know about what’s coming up next.
Running a small business, or even starting one, can be very daunting. CFLLB is here with a very large variety of programs and services with small business owners in mind. Whether you have an idea, are launching a new concept, or have a long-established business, CFLLB has a product or service to help. Contact them today to see how they can assist you in taking your business to the next level.
