We help financially in three possible ways:
i) Direct Loans - where the money is borrowed from us for conventional
business purposes, secured with business or personal assets.
ii) Loan Guarantees - where the money is borrowed from another
institution and we are the co-signers.
iii) Equity Investment - where we buy shares in the venture.
But we do more than just deal with money, we also provide:
Financial counselling: Business is good, but money is tight, cash flow
is lacking and suppliers are getting anxious. Debt consolidation is seldom the
answer, but financial re-structuring might be. See us.
Bookkeeping advice: Accounting is a professional service done by
professionsals - accoutants. Bookkeeping is simply a matter of recording sales
(Revenue) and costs (Expenditure). Bookkeeping is done by every successful
business person. Inevitably, failed businesses didn't have an effective
bookkeeping system in place.
Preparation of Business Plans and Financial Projections: Without a
comprehensive business plan it's almost impossible to borrow to start a
business. More importantly, starting a business without a plan is like starting
a trip without a map—you know where you want to end up, but you haven't a clear
picture of how to get there and you have no check-points along the way for
assurance you're on the right track.
Seminars: The corporation sponsors seminars directly oriented toward
starting and successfully operating a business. We are also the agent for ACOA's
Program, funding business startups for people aged 18 and up and expansion
for business owned by people between the ages of 18 and 35. Up to $20,000 is
available to an individual who qualifies.
Any new or expanding manufacturing or commercial business may be eligible
for funding and/or advisory service if it meets the basic criteria:
• It must be located in the District of Clare, or the Municipality of Digby
or the Town of Digby.
• It must create new employment or the funding must ensure continuation of
employment in jeopardy.
• It must have reasonable expectation of success.
• Requested funding must be necessary for the success of the project.
• There must be evidence of reasonable investment by the owner(s).
• There must be at least one other investor, not involved in the operation of
the venture.
• The client must have been unable to obtain from the Business Development
Canada (BDC) the funding requested from Digby-Clare CBDC.
• The applicant must have been refused by a conventional lending
instituition.
• The existence of any or all of the above criteria does not itself
guarantee approval by the Board of Directors.
