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' cash flow. The base lending rate is prime +2%; this may be adjusted upwards depending on the risk factor.
Loan applications 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 Existing Business
- Purchase of Assets
- Working Capital
- Consolidation 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
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 office:
P.O. Box 250
Red Lake, ON P0V 2M0
Cathy Quesnel-Loessl, Manager
If you have any further questions, please contact us: