Business Development

Financial Assistance

A loan can be provided from Community Futures Westman up to $150,000, but before the Corporation becomes involved in providing any financial assistance, certain criteria and guidelines must be adhered to:

The applicant must be willing and able to invest a minimum of 10% equity investment in the enterprise, considering the total funding required, ensuring that the applicant will be committed to making the enterprise viable. Higher risk businesses require 20% equity investment, however, this provision can be waived at the discretion of Community Futures Westman Corporation. The Corporation will NOT encourage maintenance loan investments with clients in arrears with taxation (Revenue Canada, GST, PST).
The venture must appear to have reasonable expectation of economic viability
The majority of jobs to be created must be filled by persons residing within the area of influence of the Corporation
No grants or forgivable loans are permitted to be made by the Corporation
Every approach to the Corporation must be analyzed for the number of jobs it will be generating
The Corporation's participation is desirable in ventures that would not proceed without the financial and/or technical assistance of the Corporation
The loan is approved by a Board of Directors. Upon approval of loan a business plan and two years of projected financial statements need to be provided.

Youth Loan Financial Assistance

A loan up to $25,000 can be provided to youth applicants under the following criteria:

Applicants will be required to have 10% equiy in their business, which would provide applicants with a sense of ownership and participation in the venture and that they would havesomething to lose if the venture were to fail. This discretion can be waived at the discretion of Community Futures Westman Corp.
Applicants are between the ages of 16 to 29. Applicants under the age of 18 will require a co-signer as dictated by provinical standards
A business plan and two years of projected financial statements will be required
Existing businesses can qualify for the Youth Loan Program

Entrepreneurs with Disabilities Financial Assistance

A loan can be provided up to $150,000 for applicants with disabilities based upon the following criteria:

Eligible applicants must be living in a rural community in the Westman region and have a disability that impairs their ability to perform at least one of the basic activities of self-employment or entrepreneurship
Applicants will be required to have 10% equiy in their business, which would provide applicants with a sense of ownership and participation in the venture and that they would havesomething to lose if the venture were to fail. This discretion can be waived at the discretion of Community Futures Westman Corp.
Normal security arrangements will be followed in the Lending Agreement
A business plan and two years of projected financial statements will be required

If you are interested in applying for a loan or have any other questions, please contact Trent Clayton, Loans Officer, at 726 1513 or by email at claytont@cfwestman.ca

Self-Employment Program

The Self-Employment Progam (SE Program) has been coordinated by the CF office for over 15 years and has strengthed the economy with the Westman region. The SE Program assists eligible individuals to create their own business. To be eligible you have to fit into one of the following categories:

umemployed (working less than an average of 20 per week) and current or previous EI recipient
an individual about to lose their job and eligible for EI benefits

The program lasts 52 weeks and within that time period, the individual will be provided with coaching in a business plan development, offer advice and support, direct the participant to other supports as needed.

Candidates for the SE Program must have a viable business idea, be motivated to start their own business, and be prepared to contribute money, work or equipment towards the business.

For more information about the Self-Employment Program please contact Chantelle Winter, SE Coordinator at 726 1513 or by email at winterc@cfwestman.ca

Canada/Manitoba Business Library

Located in the CF office are an array of books available free to the public. The library consists of books, in which you can sign out, to help assist with start-up of a business or construcing a business plan. You will also find numerous applications for grants and loans through the government. There is also free internet access to help aid in research.

The library is open from Monday to Friday 8:30 to 4:30 p.m.