Community Futures Chinook, in partnership with the City of Brooks and the County of Newell, is proud to announce an “interest-free” loan program that will provide funding assistance for new start-ups or expansion of existing businesses. The purpose of this program is to stimulate business and the creation of employment throughout the Newell region. The communities included in the region are: The County of Newell, the City of Brooks, the Town of Bassano, and the Villages of Duchess and Rosemary. Eligible businesses will have the opportunity to take advantage of interest-free financing on loans outlined in the program. The terms and conditions of the program will be discussed in a one-on-one meeting with a Business Analyst.
This program is being made available through funding from the City of
Brooks and the County of Newell, which is being used to cover interest
payments on behalf of applicants. Similar programs have been available
in the region in the past and received success and high participation
New start-ups will be required to provide a
comprehensive business plan which will be submitted to Community Futures
Chinook for review to determine the its viability for economic
development and job creation within the region. The business plan must
also meet Community Futures normal lending criteria, including adequate
collateral and cash-flow, management abilities and owner investment. As
part of the due diligence process, further personal confidential details
may be required.
Eligible expenses for the program include:
construction costs, land purchases, leasehold improvements, equipment
purchases, inventory, and defined working capital expenses.
For more information, please contact:
Sean Prummel Tony Diep
Business Analyst Communications Officer
Chinook Community Futures City of Brooks