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FAQ's
1. Does Community Futures Heartland provide any grants/non-repayable funding?
2. What other services does Community Futures Heartland provide?
3. Is there any charge for your services?
4. What are your loan terms?
5. How much can I borrow?
6. What can loans be used for? i.e. Can I get a loan to purchase a vehicle for personal use?
7. Do you require collateral for your loans?
8. How long does it usually take to get funding?
9. Where do you have to live to borrow money?
10. Where are you located?
1. Does Community Futures Heartland provide any grants/non-repayable funding?
No, we offer financial assistance in the form of repayable loans to new or expanding businesses in our region. However, if you are 29 years of age or less and are interested in starting a business, you may be eligible for a Young Entrepreneur Program (Grant), sponsored by Manitoban Education and Youth. You can find out more about this program by following this link:
www.gov.mb.ca/healthyliving/youth/businesses/youngentrepreneurs.html
Application forms can be obtained by calling 1-800-282-8069 ext. 4284, or, if you live in the Portage la Prairie area, you can pick one up at the Community Futures Heartland Office.
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2. What other services does Community Futures Heartland provide?
In addition to financial assistance, Community Futures Heartland can provide technical assistance in the following areas:
Business planning assistance
Assistance to access available government programs
Budget and cash flow projections
Access to resource material
Preparing government applications for funding
Research information centre
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3. Is there any charge for your services?
No. Community Futures Heartland is a non-profit organization operating under the umbrella of Western Economic Diversification, a department of the federal government. All our services are provided free of charge.
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4. What are your loan terms?
All Community Futures Heartland loans are set at the TD Bank Prime plus 3-5% dependent upon Clients qualifications at the time of signing and locked in at this rate for the term of the loan. Our repayment terms are set at a maximum of 5 years.
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5. How much can I borrow?
Loan amounts are based upon several factors, those being the amount of equity the client is putting into the business, the amount of security being pledged, the serviceability of the loan, the number of jobs being created, and the need of the loan. Talk to one of our business analysts to see how much you would qualify for.
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6. What can loans be used for? i.e. Can I get a loan to purchase a vehicle for personal use?
Community Futures Heartland provides small business sector financing only. Eligible activities include:
Starting or expanding a business
Purchasing and applying new technology
Upgrading facilities and equipment
Developing marketing and promotions materials
Establishing working capital for anticipated sales increases
Community Futures Heartland does not make personal or agricultural loans.
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7. Do you require collateral for you loans?
Yes. We take business and/or personal assets as secured collateral on our loans similar to other lenders. However, unlike most other lenders, we are able to take second secured positions behind other financial institutions.
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8. How long does it usually take to get funding?
A committee of our volunteer board of directors assess funding applications on a monthly basis. As a result, the loan process usually takes between 2 to 3 weeks from the submission of your application until a decision is finalized, but can take up to four weeks.
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9. Where do you have to live to borrow money?
Community Futures Heartland can provide business loans to individuals operating or opening businesses in our member rural municipalities and towns.
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10. Where are you located?
Community Futures Heartland
11-2nd Street NE Portage la Prairie, MB R1N 1R8
Phone: (204) 239-0135
Fax: (204) 239-0176
Toll Free: (877) 472-7122
Email: heartland@cfheartland.ca
Office Hours: Monday to Friday 8:30am to 4:30pm
Back to Top
1. Does Community Futures Heartland provide any grants/non-repayable funding?
2. What other services does Community Futures Heartland provide?
3. Is there any charge for your services?
4. What are your loan terms?
5. How much can I borrow?
6. What can loans be used for? i.e. Can I get a loan to purchase a vehicle for personal use?
7. Do you require collateral for your loans?
8. How long does it usually take to get funding?
9. Where do you have to live to borrow money?
10. Where are you located?
1. Does Community Futures Heartland provide any grants/non-repayable funding?
No, we offer financial assistance in the form of repayable loans to new or expanding businesses in our region. However, if you are 29 years of age or less and are interested in starting a business, you may be eligible for a Young Entrepreneur Program (Grant), sponsored by Manitoban Education and Youth. You can find out more about this program by following this link:
www.gov.mb.ca/healthyliving/youth/businesses/youngentrepreneurs.html
Application forms can be obtained by calling 1-800-282-8069 ext. 4284, or, if you live in the Portage la Prairie area, you can pick one up at the Community Futures Heartland Office.
Back to Top
2. What other services does Community Futures Heartland provide?
In addition to financial assistance, Community Futures Heartland can provide technical assistance in the following areas:
Business planning assistance
Assistance to access available government programs
Budget and cash flow projections
Access to resource material
Preparing government applications for funding
Research information centre
Back to Top
3. Is there any charge for your services?
No. Community Futures Heartland is a non-profit organization operating under the umbrella of Western Economic Diversification, a department of the federal government. All our services are provided free of charge.
Back to Top
4. What are your loan terms?
All Community Futures Heartland loans are set at the TD Bank Prime plus 3-5% dependent upon Clients qualifications at the time of signing and locked in at this rate for the term of the loan. Our repayment terms are set at a maximum of 5 years.
Back to Top
5. How much can I borrow?
Loan amounts are based upon several factors, those being the amount of equity the client is putting into the business, the amount of security being pledged, the serviceability of the loan, the number of jobs being created, and the need of the loan. Talk to one of our business analysts to see how much you would qualify for.
Back to Top
6. What can loans be used for? i.e. Can I get a loan to purchase a vehicle for personal use?
Community Futures Heartland provides small business sector financing only. Eligible activities include:
Starting or expanding a business
Purchasing and applying new technology
Upgrading facilities and equipment
Developing marketing and promotions materials
Establishing working capital for anticipated sales increases
Community Futures Heartland does not make personal or agricultural loans.
Back to Top
7. Do you require collateral for you loans?
Yes. We take business and/or personal assets as secured collateral on our loans similar to other lenders. However, unlike most other lenders, we are able to take second secured positions behind other financial institutions.
Back to Top
8. How long does it usually take to get funding?
A committee of our volunteer board of directors assess funding applications on a monthly basis. As a result, the loan process usually takes between 2 to 3 weeks from the submission of your application until a decision is finalized, but can take up to four weeks.
Back to Top
9. Where do you have to live to borrow money?
Community Futures Heartland can provide business loans to individuals operating or opening businesses in our member rural municipalities and towns.
Back to Top
10. Where are you located?
Community Futures Heartland
11-2nd Street NE Portage la Prairie, MB R1N 1R8
Phone: (204) 239-0135
Fax: (204) 239-0176
Toll Free: (877) 472-7122
Email: heartland@cfheartland.ca
Office Hours: Monday to Friday 8:30am to 4:30pm
Back to Top
Community Futures Heartland
Provides a variety of business and community development services to the region such as business planning assistance, repayable loans, support for community development initiatives, project support and training opportunities.
We serve 15 Rural Municipalities, 2 Cities, 5 Towns, and 3 Villages.
Community Futures Heartland is a not-for-profit corporation run by a volunteer board of directors.
OUR SERVICES ARE FREE!
