Overview

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The Business Resource Centre of Essex County offers loans to new and expanding businesses located in Essex County (excluding those located within the City of Windsor).

  • Business loans are available up to a maximum of $250,000
  • Customized financing options – Flexible repayment terms
  • Open for partial or full repayment at any time – no penalty fees!
  • Interest rates are based on traditional bank prime lending rates plus 2% to 5%
  • Financing can be in partnership with other financial institutions when traditional financing is unavailable or insufficient.
  • More flexible covenants than traditional financial institutions

Loan requests are assessed on the basis of:

  • Business Plan viability
  • Management Expertise
  • Adequate Security for financing (i.e. assets, property, 3rd party guarantees, etc.)
  • Job Creation/maintenance of employment in Essex County
  • Owner Equity (typically 25% of total project)
  • Regional Impact and trends
  • No grants

How to Apply:

Please review the above information for criteria.  The following three (3) documents must be completed and submitted together to be reviewed for financing.  Your application package must contain:

  1. Business Loan Application
  2. Business Proposal
  3. Disclosure and Release Statement

NEW!! Micro Loan (up to $10,000) simplified application process

You can upload your application via our website by saving the documents to your computer, click Client Uploads at the top right corner, browse and attach your documents.  Alternatively documents may be submitted by email to lscott@EC-businessresourcecentre.ca with a copy to help@EC-businessresourcecentre.ca

Contact our office to request assistance from business support staff if needed at (519) 776-4611.  Once all documents are received, the file will be put into the review process, and you will be contacted with any questions and a meeting scheduled.  Additional information may be required during the review process.

 Download Cash Forecast Sample Template (if required) .xls

 

 Client Uploads