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Western Economic Diversification Canada (WD) offers this Micro Loan Program in cooperation with Capital City Savings. This loan program is designed to improve access to patient debt capital for companies that are unable to secure regular financing due to a lack of hard assets, a lack of resources and experience in preparing a business case, the early stage of the company, and/or a lack of familiarity of capital providers with the industry sector.
The Capital City Savings Micro Loan Program is specifically designed to benefit people meeting the following criteria:
To be eligible for a business micro loan, interested applicants must clearly
show a commitment to starting or expanding a small business. This may involve
demonstrating a significant time commitment to the start-up or management of
the business and some financial stake in the potential or existing business.
What can the loans be used for?
The Capital City Savings Micro Loan Program is designed to improve access to financing for small businesses starting or expanding in the Edmonton area. This could include activities such as:
What are the terms of the loans?
The loan terms are designed to be flexible to help you maintain adequate cash flow throughout the year. Individual loans are subject to the following terms:
* Capital City Savings’ Prime Rate fluctuates with market interest rates
How can my company apply?
If you would like more information about this or other programs and services
we offer, contact Western Economic Diversification Canada at 1-888-338-WEST
(9378) or visit our Web site at www.wd.gc.ca.
For more information on programs and services available through the Capital
City Savings Business Banking Centre call (780)496-2142, or visit the Web site
at http://www.capitalcitysavings.ca .
What other services may I be eligible for through Western Economic Diversification Canada?
Small and medium-sized businesses in most rural and urban centres can easily access WD's and a range of other business services through WD’s Business Service Network.
With over 100 points of service in urban and rural communities across the West, the Business Service Network is made up of several integrated organizations that provide entrepreneurs with what they need to establish a business or make it grow.
Network partners work at the local level to ensure western Canadians have
direct access to information and advice on a wide range of financing alternatives
and will help you determine your eligibility for those that best suit your needs.
Services they offer range from marketing information and funding options, to
counseling and support.For information on the services our network provides
and the network member nearest you, visit http://www.wd.gc.ca/pos/default_e.asp.