Financing Process at the Community Futures Central Alberta
- Appointment with Community Futures Central Alberta (CFCA) Analyst to explain the Centre and to supply potential applicants with the necessary information to complete an application.
- Completion Of CFCA application form, An approved Business Plan Including Financial Projections by the end of the first Friday of any given month.
- Payment Of Non-refundable Application Fee
- 1. $150 - Loan up to $50,000
- 2. $200 - Loan $50,000 to $150,000
- Completion Of Personal Financial Statements including several references for all parties involved in the proposed business venture.
- Deadlines / Time Lines
- 1. Deadline for application by the second Thursday of the month
- 2. Board Of Director's meeting is the Third Thursday of each Month
- 3. Terms Of Agreement Three working days after (IRC) Approval
- 4. Legal Up to three weeks to finalize
- Other Costs
- 1. Annual Administration Fees 3% Of Loan
- 2. up to $1000 Legal Fees
- A CFCA Analyst will present an applicant's Business Plan and Executive summary to the Investment Review Committee (IRC). Between the time of application and IRC Review an analyst may ask for more information, more clarification and more research as required to make an application complete.
- Mandatory Business Seminars And Workshops For All Loans Approved. The cost of training is built into the loan amounts.
Training
The Community Futures Central Alberta is part of a Video Conferencing Connection throughout Alberta.
Entrepreneurs and small business owners throughout West Central Alberta are enjoying improved access to learning and information-sharing opportunities thanks to the Entrepreneurship Learning Centre (ELC).
The ELC is a video conferencing network that links Alberta business service network sites such as Community Futures Development Corporations (CFDC's), Alberta Women Entrepreneurs and la Chambre Economique de l'Alberta. The technical hub is situated in Edmonton at Alberta 's primary Canada Business Service Centre (CBSC), The Business Link.
The Entrepreneurship Learning Centre allows Alberta CFDC's like the Community Futures Central Alberta to serve their rural communities with increased effectiveness. The system saves time and cuts down on traveling, thereby enabling the CFCA to participate in province-wide meetings with our partners. The network will make it possible for entrepreneurs to attend meetings and seminars without leaving their home communities.
The ELC Network is a learning resource currently comprised of 23 regional points in Alberta that provide business information and interactive training opportunities to small businesses through the use of IP-based video conferencing. The Network is also used to deliver training and staff development.
Learning opportunities are scheduled year round and if you would like to know more, please contact us by email at . We would love to hear from you.