Community Works Loans Program

The Thompson Unlimited Community Works Loans Fund is designed for small businesses to start up, or for exisitng small businesses to expand or be retained.  $10,000 loans may be extended based upon an acceptable business plan.  For further information, please call 204-677-1903.  For further information, please click here.

OUR BUSINESS IS TO HELP YOU START OR EXPAND YOURS…

We can also connect you to other sources of financing that may be available to start or expand your business.  We look forward to working with you..

WHAT IS THE COMMUNITY WORKS LOAN PROGRAM?

The Community Works Loan Program (CWLP) provides loans of up to $10,000 to qualifying entrepreneurs or business owners to create new, retain or expand existing business. The program targets micro businesses that may not qualify for a loan from the traditional lending institutions.

WHAT ARE THE REQUIREMENTS TO BE APPROVED FOR ANY LOAN?

  • Business owners must reside in Thompson
  • Business must be located in Thompson
  • Business must expect to generate less than
  • $250,0000 in annual revenue
  • Business must be active, legitimate, and for profit operation
  • Funds are to be used to purchase capital assets, or for development of the business such as marketing or research
  • Application to include a business plan to start or expand an existing business
  • Loan plus interest must be repaid within a maximum of 5 years

WHAT IS NOT INCLUDED?

Loans cannot be used for:

  • Exploration, extraction or production of oil, minerals or gas
  • Residential real estate services
  • Repayment of existing debt, or equity, or refinancing a business
  • Wages or operating expenses
  • Buying real estate

WHAT IS THE APPLICATION PROCEDURE?

A CWLP Application Form will need to be completed, and must be accompanied by a Business Plan. Required loan documentation normally includes:

  • Loan agreement
  • Personal guarantees
  • Promissory note

All applications are kept in the strictest of confidence.

WHAT IS MY NEXT STEP?

For further information, or to obtain a CWLP Application Form, please contact us.

For further information about the loan program, you may download our brochure by clicking here.