Anyone with a bright idea, entrepreneurial aspirations and a feasible business plan are eligible to apply for Impact Loan. Target groups include persons who cannot access traditional financing and who face barriers such as lack of credit history, low income or underemployment.
We look for individuals who:
- Lack access to traditional financing
- Have a business idea and the passion to act on it
- Are committed to developing a business plan
- Have the skills to generate self-employment income
- Have an existing business and are looking to expand.
To apply for a loan, applicants:
- Must be 18 years of age or older
- Must be a Canadian Citizen, Permanent Resident or Convention Refugee, with the legal right to work in Canada
- Must live within the London and St. Thomas area
- Must not be in active bankruptcy or consumer proposal or have been discharged within the past twelve months (will be required to provide dated discharge papers)
- Must be in good standing with Canada Revenue Agency (CRA).
Other conditions apply. Please contact us for more details