Nottawasaga Futures

Activities and Projects

Community Investment Loan Fund

Start Date:January 2004
Funding:Federal Economic Development Agency for Southern Ontario (FedDev)
Goals:To deliver a community investment fund and related services.
Objectives:Disburse loans to businesses in South Simcoe that are unable to procure funds from traditional sources.
Status:

The South Simcoe Investment Review Committee continues to actively review South Simcoe loan applications. FedDev has provided $2,648,000 in capital. As of April 2016, $6,527,462 has been disbursed to businesses in South Simcoe. To date, $10,504,800 has been leveraged from the owners and other traditional financial services for South Simcoe businesses due to the business counselling and/or investment loans provided. Since inception 4,700 jobs have been created or maintained due to business counselling and/or investment loan activity.                       

Activity 2015-2016

Goal

Actuals

Number of closed deals

6

12

Value of closed deals

$250,050

$806,823

Value of funds leveraged

$100,000

$462,515

Active portfolio ration

87%

91%

Number of jobs created and maintained 

10

30

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