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THE VENTURE CENTRE / LE CENTRE DE DÉVELOPPEMENT 

LOAN/INVESTMENT APPLICATION 


ADMINISTRATION FEE AND INTEREST CHARGES: 

A one- time administration fee of 1% of the current loan amount may be charged on all advances and guarantees. 

The regular rate of interest to be applied on any investment/loan from the investment fund shall be 10%. 


LIMITS OF FINANCIAL ASSISTANCE: The total amount of assistance provided to any eligible applicant or business will not normally exceed $250,000.00. 


ELIGIBILITY CRITERIA: Financial assistance shall only be provided by The Venture Centre/Le Centre de développement to business projects: 


• That would employ predominantly local people residing in the catchment area of The Venture Centre/Le Centre de développement in respect to jobs created or maintained. 


• In the judgment of The Venture Centre/Le Centre de développement, have a reasonable expectation of economic and commercial viability. 


• Must first apply to a commercial lending institution and shall not be provided with financial assistance unless they are unable to obtain adequate funding from them. 


• Business enterprises applying for assistance are to be located or proposing to locate within the designated boundaries of The Venture Centre/Le Centre de développement. 


• Must be suitable for public funding (eg: not involved in the commercial exploitation of sex, religion, politics or illegal activities). 

LEGAL AND OTHER FEES: 
Documentation will be prepared by a solicitor chosen by The Venture Centre/Le Centre de développement and any and all fees are the responsibility of the client. 

A copy of the applicants photo ID will be required for our files. 


REPAYMENT:  Payments are due on the 15th of each month and will be via automatic debit to the client’s bank account. Late or returned payments are subject to a fee. 


I/WE HEREBY ACKNOWLEDGE THE AFOREMENTIONED POLICY: 

APPLICANT INFORMATION
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[vc_row bg_type=”color” padding_top_multiplier=”4x” padding_bottom_multiplier=”2x” bg_color=”#043e5c”][vc_column][movedo_empty_space][vc_row_inner][vc_column_inner width=”1/3″][/vc_column_inner][vc_column_inner width=”1/3″][movedo_single_image image=”2894″][movedo_empty_space][/vc_column_inner][vc_column_inner width=”1/3″][/vc_column_inner][/vc_row_inner][vc_row_inner][vc_column_inner width=”1/3″][movedo_title heading_tag=”h2″ heading=”h2″ increase_heading=”120″ custom_font_family=”custom-font-1″ align=”center” el_class=”script”]Office[/movedo_title][vc_column_text]

Suite 207 – 38 Pine St. N. The 101 Mall Timmins, ON P4N 6K6

[/vc_column_text][movedo_empty_space][/vc_column_inner][vc_column_inner width=”1/3″][movedo_title heading_tag=”h2″ heading=”h2″ increase_heading=”120″ custom_font_family=”custom-font-1″ align=”center” el_class=”script”]Follow[/movedo_title][movedo_social_links icon_size=”small” icon_color=”white” icon_shape=”circle” shape_color=”primary-2″ align=”center” twitter_url=”https://twitter.com/venture_centre” facebook_url=”https://www.facebook.com/theventurecentre”][movedo_empty_space][/vc_column_inner][vc_column_inner width=”1/3″][movedo_title heading_tag=”h2″ heading=”h2″ increase_heading=”120″ custom_font_family=”custom-font-1″ align=”center” el_class=”script”]Contact[/movedo_title][vc_column_text]

Phone: 705-360-5800 Toll Free: 800-966-9461 Facsimile: 705-360-5656 Email: admin@venturecentre.on.ca

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© 2022 The Venture Centre / Le Centre de développement. All rights reserved.

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