SECFDC Business Summary – Annual Release 2019

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 2019 year the Board approved loans totalling $1,083,285, which includes $960,105 in local loans. These loans maintained or created 71 jobs at a cost per job of $13,523.  They also served to leverage $364,325 in funds.  Superior East was established back in 1989 and since this time it has disbursed 618 loans within the region for a total of $24,359,749.  These loans served to create or maintain 2,766 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 $650,000.  Flex loans can provide quick financing to existing businesses that require $10,000 or less.

 

The Superior East Community Development Fund provides contributions of up to $2,000 per non-profit organization for their economic development projects. To date Superior East has authorized 20 projects totalling $40,000.  These funds have leveraged $381,181 from community partners.  This fund is currently on hold but for more information, 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.  Or drop by the office located at 14 Ganley Street in Wawa.

 

The Superior East CFDC is supported by FedNor.