Superior East Community Futures Development Corporation Semi-Annual Business Summary

The Superior East Community Futures Development Corporation (SECFDC) is a non-profit organization offering small business and regional community economic development services to the Superior East region.

 

During the first half of 2018 the Board approved loans totalling $740,767, which includes $574,100 in local loans. These loans maintained 12 full-time, 3 part-time and 12 seasonal jobs and created 8 full-time and 15 part-time jobs at a cost per job of $11,482.  These loans served to leverage $458,853 in funds.  Superior East was established back in 1989 and since this time it has disbursed 583 loans within the region for a total of $22,806,648.  These loans served to create or maintain 2,634 jobs.

 

The SECFDC provides small business financing for existing local businesses and for individuals looking to start up a business within the region.  The loans are available for anything business related including: the purchase of buildings and equipment, inventory, working capital, debt consolidation, etc.   Loans are available up to $150,000 and in some cases as high as $600,000.  Flex loans can provide quick financing to existing businesses that require $10,000 or less.

 

The Superior East Community Development Fund is available for non-profit organizations.  This fund is limited and is approaching the limit available.  To date Superior East has authorized 11 projects totalling $24,000.  These funds have leveraged $216,262 from community partners.

 

If interested in applying for any of these programs, contact the office at (705) 856-1105 or toll-free at 1-800-387-5776 or email: [email protected]  All program applications are available in both official languages on the website at: www.superioreastcfdc.ca.

 

The Superior East CFDC is supported by FedNor.

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