Community Futures Sagehill

515 Mayer Street, Bruno, SK - Phone: (306) 369-2610

Booster Loan Program

  • July 12, 2021
  • Written by Sagehill Admin

Sagehill Community Futures has created a Booster Loan Program for small businesses in the Sagehill region. This loan program provides micro loans to small businesses to a maximum of $25,000 to assist with working capital needs.

 

Eligibility:

• Business has been operational for at least one (1) year in the Sagehill region
• Business can be a sole proprietorship, partnership, or a corporation
• Business can operate either full-time, part-time, or seasonally
• Business must demonstrate viability
• Funds will be used to maintain or expand a business in the Sagehill region
• Businesses involved in multi-level marketing or pyramid selling are not eligible
• Businesses involved in traditional agriculture are not eligible

 

Terms and Conditions:

• Maximum loan of $25,000
• Fixed interest rate of prime plus 2% (minimum of 5%)
• Interest only payments for the first six (6) months
• Monthly principal + interest payments for the remainder of the loan
• Loan term is 36 months (3 years)
• 1.5% annual administration fee
• No penalty for early pay out

Eligible Uses for Loan Funding:

• Working capital (operating expenses)
• Funds may not be used to prepay or refinance existing debt
• Funds may not be used for capital purchases

 

 Application Process

• Application Process:Loan applications are available online at www.sagehill.ca
• Loan applications are available in printed form by emailing info@sagehill.ca or by calling 1-888-732-8999
• Once your loan application has been submitted, you will receive a confirmation email that we have received your application and are working on your request
• A staff member will contact you thereafter
• To apply for a Booster Loan, please click on the link https://sagehill.commongoalsapp.com/ApplyNow?appid=3

* If you don’t meet the above criteria or your financing needs exceed $25,000, call our office at (306) 369- 2610 or toll free 1 (888) 732-8999 to discuss other possible programs that may be available.

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