About this Application Form
About the Community Support Fund
This Community Support Fund provides access to interest-free, no-fee loans to entrepreneurs based in the Capital Regional District impacted by the COVID-19 pandemic.
Who is eligible?
The Community Support Fund will consider applications from all legal structures with revenue generating activities, including sole proprietors, incorporated businesses, partnerships, cooperatives and non-profit social enterprises operating before the declaration of a State of Emergency by the Province of B.C. on March, 18, 2020. Enterprises must be primarily run by Canadian citizens and/or permanent residents and based in the Capital Regional District. The Capital Regional District includes 13 municipalities and 3 electoral districts (see map).
What types and amounts of funding are available?
At this stage, applicants can apply for one loan of between $250 - $2500. Funds may be used for any of the following purposes:
Emergency Support - to help existing enterprises bridge the gap to recovery through access to working capital (ex. to pay bills, rent, wages, etc)
Adaptation Support - to help existing enterprises operate under pandemic-conditions (ex. to purchase personal protective equipment, to move online, to make other changes to meet new requirements, etc)
Recovery Support - to help existing enterprises re-open once pandemic conditions are lifted or significantly reduced (ex. to buy inventory, to promote opening, to hire back staff, etc).
We understand that business owners are reluctant to take on debt: this is not a traditional loan.
Community Support Fund loans are unsecured (meaning we do not need you to pledge an asset as collateral), with no fees and 0% interest. Repayment will start one year after receiving the loan. All funds that are repaid will be re-lent with the same terms to other individuals in the community impacted by this and future crises. Community Micro Lending is a non-profit lender that does not report to credit bureaus so this flexibility does not impact your credit.
Questions? Email firstname.lastname@example.org or call 250-216-2605