Questions to Ask Yourself:
Here are some things to consider before contacting SEDC:
- What product or service are you looking to sell?
- Have you identified or researched your market?
- Who are your customers?
- Who are your competitors?
- What start-up costs (registration & licensing, building, equipment, supplies, etc.) do you expect?
- Have you considered what form your business would best operate under? (ie: sole proprietorship, limited partnership, corporation)
- What financing may be needed? Do you need help with funding?
- Do you have equity (cash or in-kind) to contribute to the business?
- Are you going to develop a sales & marketing plan?
- Have you projected your production costs?
- What Federal or Provincial regulations affect your business? (environmental, health, safety, etc.)
These are only some of the questions which need to be investigated when looking at starting a new business.
Business Advisory Services
- Assistance in Business Plan Preparation and Review
- General Business Information & Demographics
- Government Programs & Training re: Business Management
- Export Readiness Information
- Assistance in negotiating loan packages with other lending institutions
- Funding is available which will create new jobs or maintain existing jobs.
- Term loans up to $300,000 will be considered for the purchase of equipment, leasehold improvements, inventory and operating capital.
- Interest rates based on business proposal and risk.
- Loans in the form of term, equity and guarantee may be approved by the Board of Directors.
- No Grants or Forgiveable Loans.
Loan requests are assessed on the basis of:
- Business plan viability
- Management expertise (ie: Qualifications - experience, ability, etc.)
- Job creation/maintenance and average cost per job created/maintained
- Owner Equity (typically 25% of total project)
- Security (ie: Property, Assets, 3rd Party Guarantee, etc.)
- Program criteria
If you would like to fill out a loan application, click HERE
SEDC Contact Information:
P.O. Box 177, 515 Mill Street, Neustadt, ON N0G 2M0 | Ph: 519-799-5750 | Toll-free: 1-877-335-7332 | Fax: 519-799-5750