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Business Lending

Community Futures is an alternate source of business funding offering financing to businesses for start-up, expansion or business purchase.

Term financing up to 5 years to a maximum of $150,000 is available to qualified applicants.

Who can apply for Funding?

Applicants who are looking to start, purchase or already own a business in the Central Okanagan area.

Individuals, businesses or organizations who require funding for start-up costs, working capital purposes, capital acquisitions, expansion or purchase of an existing business.

Residents, businesses or organizations of the Central Okanagan who are unable to access funding from traditional sources (i.e. Chartered Banks, Business Development Bank of Canada, Credit Unions, etc.). Community Futures works in partnership with traditional lenders in order to meet the borrowers full lending requirements.

All applications must be completed and accompanied by a well thought out and realistic business plan.

What type of Loans are Available?

Community Futures offers specialty term loans up to five years for a maximum of $150,000 from:

  • General Loan Fund for business start-up, purchase or expansion.
  • Youth Loan Fund for applicants 18-29.
  • Community Business Loan Fund for businesses in the forest sector, aquaculture, manufacturing, tourism, developing or using clean or renewable energy, developing innovative technology or using technology in an innovative manner, beginning or expanding the export of goods or services from BC.
  • Entrepreneurs with Disabilities Fund for business owners who are also managing ongoing health and disability issues.

How do I apply?

Applications can only be obtained by contacting one of Community Futures' Business Advisors at 250-868-2132 ext. 227 to arrange an appointment to review the business opportunity and financing need.

To help you prepare for your financing, you can download a variety of resources like business plan guide, forecasted cashflow templates and other tips by clicking here.

  • Applicants must be residents of the Central Okanagan (Oyama to Peachland).
  • The business must operate and continue to operate during the term of the loan in the Central Okanagan. Applicants must not be in a position to access traditional sources of financing.
  • All loans are repayable in full. If your loan is approved you will meet with staff to arrange security requirements and the terms and conditions of your loan.
  • Community Futures is an alternative source of business capital currently offered at 11-12% but is subject to change as the Bank of Canada rate changes. The interest rate is a set rate for the full term of the loan. Processing fees of 2% of the total amount will be applied (minimum of $350.00) upon approval and draw down of funds.