As part of the Main Street Middlesex program, the Business Help Centre now provides matching loans to small businesses located in the designated downtowns of the program who need the matching funds in order to apply for a grant. Loans up to $2,500 are available to match the grants.
Loans are only for matching funds in the Main Street Middlesex Grant program.
Who can apply for the Main Street matching loan?
This program is open to businesses and commercial property owners in the designated downtowns of Ailsa Craig, Dorchester, Lucan and Parkhill who are improving the physical appearance of downtown buildings in order to boost economic development in the area.
What can the funds be used for?
Financing can be used as the matching funding for grants for building renovations in any of the following categories:
Fesitvals and Events
Maps and Guides
Signs and Awnings
What is the application process?
complete a Main Street Middlesex grant application, or have been approved already for such a grant
complete a Main Street Middlesex loan application form
submit a non-refundable application fee of $50
What should the application show?
the ability to repay the loan
how the improvements will benefit the economic development of the core
adequate security which may include a combination of business and personal assets and personal guarantees
the capability to professionally manage and carry out the project
a firm commitment to the success of the operation
What fees will be charged?
All loans are subject to a non-refundable application fee, payable at the time of application. The fee is $50.
Insurance on the Main Street Middlesex Loan is waived.
What is the interest rate?
Interest rate is fixed at 6.5%.
How long do I have to repay the loan?
Loans are subject to a maximum two (2) year term.
All loans are subject to regular monthly payments; however, remain open for repayment, in full or in part, at any time, without penalty.
Where can I get the forms required for applying for this loan?
Click on the links provided here, or contact us at The Business Help Centre for a package.