Sand Plains Community Development Fund Loans are intended to foster entrepreneurship in the region by increasing the availability of ‘patient capital’ for small business start-ups and expansions in priority sectors.
Who can apply for a Sand Plains loan?
Loans up to a maximum of $250,000 can be made to organizations in the Sand Plains Region (encompassing Norfolk, Brantford, Oxford, Middlesex and Elgin - the sandy soil of the 'tobacco belt' area), specifically in agribusiness, tourism, green products, renewable energy, food processing, and manufacturing.
Preference will be given to organizations which:
Relate to agriculture/agri-food
Are located (entirely or mainly) in the Sand Plains region
Incorporate economic viability, environmental values and social implications
Leverage other federal, provincial, municipal and/or private sector investments
Eligible applicants include:
Social Service Institutions
What is the application process?
The Sand Plains Community Development Fund (SPCDF) application process:
Business Loan Application, which includes, but is not limited to:
Completed business plan
Personal statement of affairs
Business bank/credit information
Disclosure and release statement
Income statement and cash flow assumptions
Acknowledgement of CFDC privacy statement
List of business assets
Applicants must read the Sand Plains Community Development Fund (SPCDF) Guidelines and will need to refer to these guidelines when completing the Pre-proposal Application. Information from the pre-proposal will assist CFDC staff in providing feedback to the applicants on whether the concept is eligible.
All pre-proposals will be provided to the Sand Plains Community Development Fund for information. Applicants whose projects are deemed eligible for the SPCDF Access to Capital component will be asked by the CFDC to complete a Business Loan Application.
All necessary forms are on the Forms page, or by contacting our office.
What is included in a successful application
Successful applications must demonstrate:
the ability to repay the loan
adequate security which may include a combination of business and personal assets
the capability to operate and manage the business
a firm commitment to the business, including a personal investment of funds and resources
What is the interest rate for the Sand Plains loan?
Interest rates are determined on a case by case basis, but the minimum rate it 5.0%.