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.