It Takes Money to Grow
If you’re looking to shift your business into high gear, Community Futures can assist you! If you’re looking to develop new products, expand into new markets or give your store a facelift. Maybe you’re just getting your business off the ground. With a good plan and enough capital, you can make your business dreams a reality.
Community Futures offers business loans for most business-related purposes, including business start-up, seasonal requirements, working capital, and expansion.Connect With Us
A History of Success
In the last 17 years CFTC has personally facilitated the success of more than 650 businesses throughout Kamloops, Barriere, Chase, Clearwater, and throughout the region. This has resulted in more than 2,000 jobs and a total investment from Community Futures in excess of $16.5 million!
Designed to Help Your Business
CFTC offers flexible and affordable loan products that are specifically designed to help your business grow. Our processes are different than your traditional bank source of funding. We streamline our methods so that we can move at the speed of your business.
CFTC loans are offered with:
- Flexible repayment schedules
- No pre-payment penalty
- Loans partnered with another financial institution an asset
- Terms of repayment are typically 3 to 5 years and our interest rate is competitive at prime + 5 %.
- Maximum loan amount $150,000
Entrepreneurs with Disabilities Fund
For business owners who are also managing ongoing health and disability issues.Learn More
Community Futures can provide fast turnaround financing through our Micro-Loan Program. Micro-Loans of up to $20,000 can be approved with no minimum loan amount. No business plan necessary. Use a micro loan to turn your great idea into a new seasonal, part-time, or full-time business venture. Or use it to purchase equipment, tools, inventory or as working capital. Micro loans can be used for almost any business purpose directly related to the core business.Apply Now
Community Futures Thompson Country provides loans to eligible 4 H Club Members in the Thompson region.
An application is completed and submitted to the club leader for confirmation of eligibility and project approval.
- To be eligible the applicant must be an active member in good standing of a 4 H club in the Thompson District.
- Once approved by the club leader, the applicant makes an appointment with the Community Futures Loans Coordinator (contact information is on the application form) to present their application.
- Upon approval of the loan organization, the applicant will be contacted to come in to Community Futures along with their parent/guardian to finalize the loan documentation.
Are You Eligible?
Acceptance for a Business Loan depends on:
- Market potential and future economic viability of the business
- Location of the business
- Competent management
- Local job creation
- Experience related to the venture
- Reasonable personal financial investment
- Ability to repay
- Adequate security for the venture
- Creation of a business plan
Who Makes Investment Decisions?
One of the keys to success of CFTC is that our investment decisions are made by an independent committee of community volunteers that are sensitive and apprised to the needs of our region. This committe of volunteers bring together their knowledge and expertise, coupled with their understanding of the local business environment, and as such are the basis for our effectiveness and high levels of success. CFTC is as a leader in business development and well positioned to provide local business solutions for local business success.
Do I have to be a part of a specific Community Futures program to qualify for a loan?
No. Anyone can apply for a loan.
What interest rate do you use for your loans?
Prime Plus 2%-5% depending on the risk.
Do you lend to startup businesses?
Yes, we do lend to start-up businesses.
How much personal investment is required for a loan?
We like to see at least 25% of personal investment. That can be by way of cash, equipment, or leasehold improvements.
In order to apply, you need to have drawn up a proper business plan and you also need to fill in an official application form. In addition, BDC has a great self assessment tool (link is external) that you can use to gauge your own entrepreneurial spirit.
Please note that the application form must be completed and signed then faxed, mailed or hand delivered to CFTC at 330 Seymour St., Kamloops, BC, V2C 2G2.Download the Application Loan Calculator