FundAbility Loan Program
The FundAbility Loan Program offers business support through training, coaching and financing for eligible entrepreneurs with a disability.
The FundAbility Program requires a completed, viable business plan along with peer group participation. Attendance and references are indicators of character and used in the application process.
Entrepreneurial support services offer:
- Ongoing business coaching
- Networking & learning opportunities
- Assistance in business plan writing
Eligibility Criteria
Eligible borrowers must have a have a viable business opportunity and must be able to complete a business plan. They cannot have an undischarged bankruptcy. Borrowers must live within the City of Calgary limits. Borrowers must also attend a minimum of 4 peer group sessions prior to applying for a loan or completed the ABCs of Small Business or the Self Employment Program. After completing the Peer Group Meetings a loan application is completed. Once the business plan and loan application are completed it can be taken to the Loan Review Committee for a decision. The recipient is intended to be an entrepreneur and therefore must demonstrate independence in terms of management reasoning and decision making. If the applicant relies on another individual to make the business decisions and run the business, then the other individual is considered the entrepreneur and applicant.
Eligible Activities
Financing can assist with:
- Asset purchase
- Marketing expenses
- Operating expenses
- Start up costs
Summary
Loan Terms
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Loans are set at Prime + 2.0%
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Maximum term of 60 months
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A letter from a Doctor to confirm a permanent disability is required
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A letter from a Bank declining your request for funding is required
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Any legal, security, appraisal or accounting fees associated with the request for financing are a cost to the applicant
Alberta Contact(s):
Ms. Kellie Anderson
Momentum
16, 2936 Radcliffe Drive SE
Calgary, Alberta T2A 6M8
Telephone: 403-272-9310 ext 238
Fax: 403-235-4646
E-mail:
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Web site: http://www.momentum.org/
