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CoronavirusValley Heartland offers support loans to Lanark small businesses

Valley Heartland offers support loans to Lanark small businesses

Support for Business

Valley Heartland is committed to supporting our business community while weathering the effects of COVID-19. In partnership with FedDev Ontario we are offering at prime loans (currently 3.45%) to provide vital economic support to small businesses to help overcome the challenges of COVID-19.

Available to Any existing business in Lanark County and North Leeds *** EFFECTIVE UNTIL APRIL 30TH*

* No payments for initial 2 months
* Interest rates of 3.45% (prime)
* Application and admin fees waived
* Decision in 48 hours for existing clients – up to 96 hours for new clients

Business can access small business loans of up to $15,000 at prime (currently 3.45%) to be used for working capital or other expenses incurred or expected to be incurred due to COVID-19 and its economic impact on the business:

1. $15,000 at 3.45% over 4 years = payment $335.01
2. $10,000 at 3.45% over 3 years = payment $292.80
3. $5,000 at 3.45% over 2 years = payment $215.90

If additional financing is required up to a maximum of $250,000, more information may be requested for preparation and approval by our Board of Directors. Interest rates are valid on new applications and requests only.

Visit website for 2 page application: https://www.valleycfdc.com/loans

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