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Superior East Community Futures Development Corporation (SECFDC) Business Summary – Annual Release

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 2018 year the Board approved loans totalling $961,200, which includes $736,200 in local loans. These loans maintained or created 67 jobs at a cost per job of $10,988.  They also served to leverage $474,853 in funds.  Superior East was established back in 1989 and since this time it has disbursed 600 loans within the region for a total of $23,274,464.  These loans served to create or maintain 2,670 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.  Each organization can apply for up to $2,000 per economic development project.  To date Superior East has authorized 13 projects totalling $28,000.  These funds have leveraged $307,262 from community partners.  If interested in applying for this fund, please call Chantal Croft at (705) 856-1105 or toll-free at 1-800-387-5776, ext. 223 or email: [email protected].

 

If interested in applying for any of the loan programs, contact Tracy Amos at (705) 856-1105 or toll-free at 1-800-387-5776, ext. 222 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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