Community Futures West Yellowhead
CFWY Business Financing Requirements
As a community-owned, not-for-profit organization, Community Futures West Yellowhead’s priority is to provide funding that promotes rural economic diversification. Though we endeavour to be flexible in how we apply this, we do have certain common lending criteria that you must meet to qualify for financing:
- The business is located in a rural community served by Community Futures West Yellowhead (Grande Cache, Jasper, Hinton, Edson or Yellowhead County) and has the potential to promote stable economic growth, diversify the regional economy, and create or maintain jobs.
- You are prepared to demonstrate loan repayment viability through a complete and thorough business plan and cash flow.
- You are willing and able to make a reasonable personal investment in the business.
- You are willing to commit to monthly business reporting sessions and providing quarterly financial reports to CFWY for the first year of my loan. You are to provide accountant prepared Year-End Financial Statements annually, for the duration of the loan.
- Efforts to secure traditional (bank) financing have been unsuccessful.
- There are no outstanding court judgements, collections for unpaid accounts, nor outstanding debt with the Canada Revenue Agency.
- The purpose of the loan is to start, maintain, or expand a small business in the West Yellowhead region and not to refinance current debt or provide bridge financing.
221 Pembina Ave.
Hinton, AB T7V 2B3