Financing That Fits Your Business
We provide flexible business financing and practical support to help Central Island entrepreneurs start, buy, grow and strengthen their businesses. As a developmental lender, we look beyond the numbers to understand the business, the opportunity and the person behind it.
How We Can Help
We provide flexible business financing tailored to your unique goals and needs.
- Starting a new business
- Purchasing an existing operation
- Investing in equipment or leasehold improvements
- Expanding capacity or stabilizing operations
- Managing seasonal gaps or working capital
What Makes Us Different?
Unlike traditional institutions, we look beyond simple credit scores. We evaluate loans based on the Five C's: Character, Capacity, Capital, Collateral, and Conditions.
We consider the viability of your business, your ability to repay, your investment in the project and the overall strength of the opportunity. Our decisions are made locally by people who understand the Central Island economy.
What Will You Need to Apply?
While every business is unique, initial inquiries generally require:
- Comprehensive Business Plan
- Financial projections, typically covering two years
- Personal financial statement of affairs
- Proof of equity / personal investment
- Identification and background information
Our lending team will explain specifically what is required for your particular situation during our first discussions.
How the Process Works
- Fill out our Inquiry / Eligibility form: Submit a short overview of your business idea.
- Application: Provide your formal business plan and documents.
- Consultation: Meet with a lending officer to discuss your needs.
- Review: Our team evaluates your application for viability.
- Decision: Your completed application is presented for local lending review and a financing decision.
- Funding: Complete legal documentation and funds are disbursed.
Common Questions
There isn't a one-size-fits-all answer. Every financing request is assessed individually based on your business, your needs, and your ability to repay. If your project is a good fit, we'll work with you to explore the financing options available.
Do I need a business plan?
Yes. A clear plan is essential for us to assess feasibility.
How long does the process take?
Every application is different. Timing depends on the complexity of the request, whether all required information has been provided, and whether other financing partners are involved. Complete, well-prepared applications generally move through the process more efficiently.
Is this a grant?
Community Futures provides repayable business loans to support eligible business start-up, purchase, growth and other financing needs.
What are the interest rates?
Rates are competitive and based on prime plus a risk factor.
Do I need perfect credit to qualify?
Credit history is one part of our assessment, but it is not the only factor. As a developmental lender, we look at the overall application, including your business plan, cash flow, experience, investment in the business and ability to repay.
Do I need collateral or security?
Security requirements depend on the size and nature of the financing request and the assets available. A lack of traditional collateral does not necessarily rule out an application, but security is one of the factors considered as part of the overall lending decision.
What is the maximum loan amount?
How much of my own money do I need to invest?
There is no single amount that applies to every application. We generally expect applicants to demonstrate a meaningful personal investment and commitment to the project. The appropriate amount will depend on the business, financing request and overall structure of the deal.
What if I'm not ready to apply yet?
That's okay. You do not need to have everything figured out before contacting us. An initial conversation can help you understand what information you will need, whether Community Futures may be a good fit and what your next steps should be.
Tell Us About Your Financing Need
You don't need to have everything figured out before contacting us. Tell us a little about your business and what you're looking to accomplish, and our lending team will help you understand the next steps.