Funding available through your local CFDC
In order to provide targeted assistance to the small towns and communities they serve, CFDCs will focus on assisting “main street” businesses, such as retail shops, restaurants, corner stores, and businesses of strategic importance to their communities.
- Maximum assistance will be $40,000
- 0% interest and no principal payments until December 31, 2022
- Principal repayments can be voluntarily made at any time
- If the client is unable to repay the loan by December 31, 2022, the loan will be converted to a three-year term loan with interest rates up to 5%, effective January 1, 2023.
- The full balance must be repaid no later than December 31, 2025
- 25% (not to exceed $10,000) of loan can be forgiven provided the client has paid 75% of the original loan amount prior to December 31, 2022 & has not already received grant through CEBA