Community Futures is not in competition with chartered banks or other business lenders. Rather, our financing can be independent of, or in partnership with, other financial institutions.

To qualify for financing, you must have already explored traditional financing services first. Should traditional financing be insufficient or unavailable, we may be able to offer a viable lending solution.

Purposes of Financing

Start-up financing for new businesses
Leasehold improvements
Equipment purchases
Inventory
Working capital
Purchase or renovate commercial property
Purchase vacant land to construct new
commercial building, or for farming

Regional Relief and Recovery Fund

The Regional Relief and Recovery Fund (RRRF) provides financial contributions (interest-free loans) to help support fixed operating costs of SMEs, where business revenues have been affected by the COVID-19 pandemic.

Funding available through RCCFDC
In order to provide targeted assistance to the small towns and communities they serve, RCCFDC will focus on assisting sole proprietorship “main street” businesses, such as retail shops, restaurants, corner stores, and businesses of strategic importance to their communities, with loans up to $60,000. If you have received CEBA you are still eligible to apply for RRRF but will be ineligible for the forgivable portion.

Details of the RRRF Loan:
- Maximum assistance will be $60,000
- 0% interest and no principal payments until December 31, 2022
- Principal repayments can be voluntarily made at any time
- For loans issued totaling $40,000 or less: 25 percent of the loan (not to exceed $10,000) can be forgiven provided the recipient has paid 75 percent of the original loan amount prior to December 31, 2022.
- For loans issued totaling more than $40,000 and up to $60,000: If the outstanding balance is paid back in full by December 31, 2022, 25 percent of contributions up to $40,000 can be forgiven (to a maximum of $10,000), and up to 50 percent of contributions from $40,000 to $60,000 can be forgiven (to a maximum of $10,000).
- If the recipient is unable to repay the loan by December 31, 2022, the loan will be converted to a three-year term loan with interest rates of 5%, effective January 1, 2023. The full balance must be repaid no later than December 31, 2025.
- Grants and non-repayable contributions are prohibited

Eligible RCCFDC applicants must also meet the following criteria:
- established prior to March 1, 2020;
- impacted adversely by the COVID-19 pandemic;
- viable and not experiencing other financial difficulties prior to March 1, 2020;
- have attempted to access other federal relief supports and were ineligible, rejected, or require funding for expenses that have not been supported, with priority given to applicants who were ineligible or rejected from other federal relief supports.

Additional Resources:

Funding Application Writing Fundamentals Workshop

Please complete the form below to receive a copy of the Regional Relief and Recovery Fund application.

1. Click on the "Start Your Term Loan Application Now" button located at the top of the page to access the business loan application.

2. Submit your completed application with accompanying loan application fee.

3. A credit check will be conducted on all applicants.

4. Supply any additional information requested.

5. Loans are presented to the RCCFDC Investments Committee (comprised of local volunteers) for approval.

Our Business Development Officer (BDO) will analyze your loan application and present it to the Investment Committee. Decisions are based on the viability of your proposed business, available security, impact of job creation or maintenance and the impact on the community.

The BDO will then contact you regarding the committee’s decision. If your loan has been approved, you will receive a “Letter of Offer”, outlining the terms and conditions of the loan.

6. Upon acceptance of the Terms and Conditions set out in the offer, we will commence preparation of legal documents.

7. Once the security documents are completed, with all terms and conditions met, funds will be disbursed.

Businesses applying for financing must be located in the County of Renfrew or City of Pembroke.

In order to apply for financing, the following documentation is required;

Completed Loan Application
Statement of Personal Assets and Liabilities
Business Model Canvas
Cash Flow
Marketing Plan
If purchasing land or building, a signed Offer to Purchase, conditional on financing
Detailed listing of equipment and inventory to be purchased
Loan Application Fee

For existing businesses, please also attach:

The past 3 years financial statements and/or Revenue Canada Statement of Business Activities (Form T2125)
Revenue Canada Notice of Assessment (T2 for Corporations)
Current HST Return for Registrants
Confirmation that WSIB and Source Deduction payments are up-to-date
Articles of Incorporation and/or Trade Name registration

Personal Net Worth Statement

Personal Net Worth Statement for each applicant (partner(s) and/or spouse)
Proof of assessment value of home (MPAC Property Tax assessment and/or residential appraisal report)
Other information to confirm balances on statements

*Note: If the application is approved there is an Application Fee of 1% of the approved loan.

All financing decisions are made at the community level by our local Board of Directors, made up of entrepreneurs and experts in their field.

The following criteria will be taken into consideration when reviewing loan applications:

Purpose of the financing request
Reasonable expectation of economic viability
Creation or maintenance of jobs
Character of the Client including credit history
Personal investment or financial commitment
Security offered to protect the investment

Upon review of applications, the following is taken into account:

Adequate security
Creation or maintenance of jobs
Economic viability of the business
Management skills and abilities
Client character; including credit history
Ability of the business to repay the loan
Environmental factors
Business location (must be located in Renfrew County)

Renfrew County Community Futures Development Corporation (RCCFDC) takes pride in its long history of working with small business clients in the region. We encourage applicants to have a strong business plan and credit score before applying. Many applicants have been very successful with their loan requests in our 30+ year history.

All declined loans are immediately discussed by the Business Development Officer with the client by phone and followed up in writing by the Executive Director with information on how to appeal a loan decision.

At any point following the loan rejection and/or during the appeal process, applicants have the option to re-apply for financing with a new and improved application package. This will be considered a new application.

All appeals must be made in writing to the Executive Director and/or the Chair of the Board of Directors at info@rccfdc.org within seven (10) days of the date they were notified of the rejection. RCCFDC reserves the right to charge a $250 loan appeal fee.

The Board of Directors will create an Appeal Sub-committee consisting of Five (5) Directors who did not sit on the Investment Review Committee to discuss the specific loan under appeal.

The loan appeal is presented by the Executive Director and/or Board Chair to the Appeal Sub-committee within ten (10) days.

The Appeals Sub-committee’s decision is considered final and the applicant will be notified in writing within two (2) days.

List of Loans Available

Loan Types:

Biz Loan – Provided to SME’s up to a maximum of $150,000 and 5 year term, 15 year amortization, minimum interest rate charged is 2% + prime. Businesses who have been turned down from a bank, or require more money than the bank can offer are eligible for CFDC financing.
	Accessibility Loan – This loan is available to all property owners of a business and not-for-profit locations that will need to complete renovations/upgrades to their facilities to meet the new Accessibility Standards.
	Agriculture Loan – This loan is available to the agricultural industry to assist with the development of new and innovative agricultural products and services.
	Artisans Loan – This loan is available to all individuals associated in the artisan industry and can be used by artists & craftspeople to expand and promote their business.
	Forestry Loan – This loan program is specially targeted at supporting business both directly and indirectly affected by the Forest Industry.
	Hospitality Loan – The Hospitality Industry is one of the toughest industries to secure funding from a traditional lender. We acknowledge businesses covered under the definition of Hospitality (i.e. restaurants, motels etc. ) operate with a higher risk of reaching successes, but in the small rural communities theses business play a major role in the local economy and in several situations become the central meeting place for the residents. We have developed a loan package that understands the obstacles facing many of the business owners in this industry sector and the overall impact their business may have on a community. The loan offers a flexible repayment schedule that follows the cash flow of their business.
	Innovation Loan – To help entrepreneurs who are looking to develop new products or find new ways to offer existing products through innovation.
	Manufactures Loan – In responding to the changes being faced by the manufacturing sector we have designed a loan program to encourage the development, growth and start-up of businesses.
	Seasonal Loan – RCCFDC offers a short term loan to assist seasonal business with start-up expenses. The loan is also available to a company that experiences an unusual cash flow shortfall due to an unexpected short term event in their business.
	Start-Up Loan – Offered to new businesses that are looking for capital to purchase equipment, promote their business or assist with general start-up costs.
	Tourism Loan – Businesses in the Tourism Industry are affected by a number of factors outside of their control causing ongoing changes in their financial needs. The Tourism Loan is designed to recognize the impact these changes cause and provide a loan product that can be specifically tailored to meet the needs, timing and cash flow situation of each individual applicant.
Property Improvement – The goal of the Access to Capital Loan is to provide funds to support capital improvement that will assist in the long term economic development of Renfrew County. Through providing Access to Capital for building retrofit, our region will benefit from more desirable options for places to conduct business, while limiting the financial burden for building improvements.
Social Enterprise Loan – We provide financing to Social Enterprises in Renfrew County. A social enterprise is a business, who produces goods and services for the market economy, but who manage their operations and redirect their surpluses in pursuit of social, environmental and community goals.
Youth Loan – Developed to assist young entrepreneurs entering the business environment.

Contact our Business Development Officer for more details.