Nottawasaga Futures

Activities and Projects

Community Investment Loan Fund

Start Date:January 2004
Funding:Federal Economic Development Agency for Southern Ontario (FedDev), NCFDC, NCEDC, NT Temps Inc.
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 originally provided $2,648,000 in capital. As of January 1,2019 $8,405,727 has been disbursed to businesses in South Simcoe. To date, $10,200,937 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 4,162 jobs have been created or maintained due to business counselling and/or investment loan activity.                       

Activity for April 2018 - January 2019

Achieved

Number of closed deals

8

Value of closed deals

$494,814

Value of funds leveraged

$1,401,000

Active portfolio ration

94.2%

Number of jobs created and maintained 

9

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