Business Loans

EOCFDC offers business loans to high-growth, innovative small and medium sized businesses in rural and urban communities of $100,000 to $500,000. These loans are intended to support all aspects of growth facing them. Eligible businesses must be able to demonstrate the positive impact of their businesses to their communities.

Financing is available for:

  • New product or service development
  • Late stage commercialization
  • New applications or markets
  • Development or implementation of new processes or technologies

Loan Terms:

  • $100,000 to $500,000 loan amounts
  • Interest bearing term loans
  • No fees
  • Repayable anytime without penalties

To begin the application process, you must submit a “Statement of Interest” to your local EOCFDC administrative officer who will then review it within 5 business days. You will then be notified whether or not you will proceed with the full application process. During this process you will complete various face-to-face meetings with EOCFDC staff, complete and submit the required documents regarding your business, as well as meet with EOCFDC board of directors and our Investment Review Committee.

Click to complete a Statement of Interest.

The whole process takes typically between 4 to 12 weeks from receipt of your Statement of Interest to approval of loan. There is no limit on the number of applicants for a loan. We accept applications on an ongoing basis.

Eligible organizations will:

  • Employ 50 to 500 employees, or identify that there is a strong likelihood that they will reach 50 employees within a three-year period.
  • Provide evidence of their ability or experience to operate the business
  • Be able to demonstrate inability to obtain adequate and reasonable financing from other lending sources
  • Demonstrate job creation/retention for community residents
  • Be suitable for public funding
  • Establish a reasonable expectation of economic viability
  • Demonstrate the ability to repay funds advanced by EOCFDC
  • Have secured the required matching funding through private investment, financial or equity partnerships or working capital.