Financial Services Brief Overview

The Chukuni Communities Development Corporation has a maximum of $150,000 to invest per business venture. This investment can be in the form of a loan, loan guarantee or equity participation. Repayment plans can be flexible and tailored to the business' cashflow. The base lending rate is prime +2%; this may be adjusted upwards depending on the risk factor.

Loan application are presented to and approved by the Business Development Committee at their monthly meetings.  The Business Development Committee is comprised of local community members from our delivery area (Ear Falls and Red Lake) that are interested in helping to facilitate the creation of new business and employment.

 

We offer loans for the following:

  • Business Start-up
  • Business Expansion
  • Purchase of Exisitng Business
  • Purchase of Assets
  • Working Capital
  • Consolidatioin of Business Debt

Qualification for Financial Assistance

Feasibility of the business idea:

  • Personal business experience, skills, credibility and drive
  • Job creation or job preservation
  • Economic impact
  • Risk of investment 

 

Business Loan Application

If you feel that your business idea fits the above defined eligibility criteria, you are invited to fill in a Business Loan Application

 

Business Loan Application

Note: The application is in "PDF" format. Please download Acrobat Reader in order to read the form. 

Completed applications along with your business plan should be forwarded to the Assistant Loans Officer:

 mail

P.O. Box 250
Red Lake, ON  P0V 2M0

 fax

(807) 727-3285

 email

Kim Riddell
chukuni%23com|kim%23riddell

 

If you have any further questions, please contact us:

 phone

(807) 727-3275