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SECFDC introduces new loan products – Wawa-news.com

The Superior East Community Futures Development Corporation (SECFDC) is a non-profit organization that provides economic development services to small businesses and regional communities in the Superior East region. Superior East was established in 1989 and since then has disbursed 675 loans in the region totaling $28,586,340. These loans made it possible to create or maintain 2,965 jobs.

Superior East is excited to introduce several new loan products available to small businesses in the area. Here is a list of new products with a brief description of each:

Credit line – Up to $30,000 for a small business line of credit. Available to companies that have been in business for at least one year.

Loan for businesswomen – It can be a start-up or an existing company. The business must be at least 51% owned by a woman. First six months of interest only payments.

Business transition loan – The business must be established for at least one year. Support buyers of existing businesses. First six months of interest only payments.

Business Improvement Loan – The business must be established for at least one year. Support companies in improving their business. First six months of interest only payments.

The SECFDC offers small business financing for existing local businesses and for people looking to start or buy a business in the area. Loans are available for anything business related including: purchase of buildings and equipment, inventory, working capital, debt consolidation, etc. Loans are available up to a maximum of $750,000. Flexible loans can provide quick financing for existing businesses that need $50,000 or less.

If you would like to apply for one of the loan programs, contact Tracy Amos at (705) 856-1105 or 1-800-387-5776, ext. 222 or email: [email protected]. All program applications are available in both official languages ​​on the website at: www.superioreastcfdc.ca. Or drop by the office located at 14 Ganley Street in Wawa.

Superior East CFDC is supported by FedNor.

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