Not-For-Profit Organization Term Loans

Loan Details

As part of the Community Futures program, the Business Help Centre (CFDC) of Middlesex County provides term loans to revenue-generating, not-for-profit organizations that have had difficulty finding financing elsewhere on reasonable terms.

Loans up to a maximum of $150,000 can be made to organizations in Middlesex County (excluding those operating exclusively within the City of London) that will be creating new jobs or maintaining existing jobs in the local area.

Usage of Funds

Financing can be used for the purchase of fixed assets, leasehold improvements, inventory or working capital.

Application Process

Applicant submits a completed Business Plan, Cash Flow and Loan Application.  Please attach profiles of all principles and board members, a copy of the charter or articles of incorporation, last audited financial statements, and information regarding the organization’s mission/mandate.

Business Plan Outlines and loan applications are available on-line or by contacting our office.

A successful application must demonstrate:

  • Employment creation or maintenance for predominately local residents
  • A firm commitment to the operation of the organization, including an investment of funds and resources
  • Ability to repay the loan by way of revenues generated by the provision of local programs/services and fundraising (when applicable)
  • Sufficient human resources to operate the organization.
  • Adequate security which may include a combination of corporate assets

Fees

All loan application fees are waived for non-profit organizations.  Applicants are responsible for all legal costs to complete the loan securitization package and must be life insured.  These funds can be paid for from the proceeds of the loan.

Interest Rates

Interest rates are currently fixed for the term of the loan at a minimum of Prime and determined on a loan by loan basis.

Terms of Payment

Loans are subject to a maximum five (5) year term, with a maximum amortization period of fifteen (15) years. All loans are subject to regular monthly payments however, remain open for repayment, in full or in part, at any time, without penalty.

Click the links below to view or print the required form.

Business Plan Outline
Cash Flow Projections
Loan Application – Non-Profit Organization
Personal Financial Statement