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SECFDC Business Summary for 2023

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.  It is led by a volunteer Board of Directors consisting of individuals that reside throughout the Superior East region.

 

For the 2023 year the Superior East CFDC approved a total of $829,001 in local and regional loans.  These loans impacted 35 jobs in the region.  A total of $278,000 was also leveraged from other sources.

 

Superior East was established back in 1989 and since this time it has disbursed 703 loans within the region for a total of $29,267,010.  These loans served to create or maintain 3,021 jobs.  Leveraged funds over the years total $27,136,154.

 

The Community Development Fund offers up to $2,000 to local non-profit organizations to assist with their community economic development projects.  During the 2023 year, the Board approved $14,925 in CD Funds which also leveraged $287,790 in funds from other sources.  Funds are limited and are disbursed on a first-come, first-served basis.

 

The SECFDC provides small business financing for existing local businesses and for individuals looking to start up or purchase 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 a maximum of $750,000.  Flex loans can provide quick financing to existing businesses that require $50,000 or less.  Additional loan products include the Business Transition Loan, Women in Business Loan, Line of Credit and the Business Improvement Loan.

 

If interested in applying for any of the loan programs, contact Tracy Amos at (705) 856-1105 or 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.

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