Youth Strategy Loan
A Youth Strategy Loan:
- may be from $5,000 to $15,000
- targets young adults from 18 to 35 years of age
- carries no interest for the first 2 years of repayment
It can create, purchase, expand or modernize a business. A request to finance existing debt is inadmissible.
The loan may be used to finance:
- capital
- building
- start-up costs
- cashflow
The business project must create/maintain jobs and the proposal will demonstrate:
- viability with potential for growth
- innovation and not threaten the survival of another local business
- personal and entrepreneurial qualities of the promoter
The promoter will also:
- inject funds,
- own and operate the business on the territory covered by the SADC Pontiac Community Futures investment funds,
- benefit from the technical coaching and support follow-up services included,
- additional elements may be required and will be discussed between the promoter and the advisor.
Admissible Business Sectors:
- processing and manufacturing
- information technology
- services and tourism
Business categories and sectors that are saturated locally may not be financed.
For personalized help contact:
Rhonda Perry
Financial Analyst/Assistant Executive Director
819-648-2186