FUNDING AND FINANCIAL ASSISTANCE
Funding options for your business in Thunder Bay and surrounding areas
Thunder Bay Ventures provides financial assistance to businesses in the Thunder Bay CMA. We finance new business startups as well as expansions to existing businesses in amounts up to $600,000.
The Business Loan Calculator is for information purposes only and in no way constitutes a loan offer to the user
Calculate your business future with our online resources and business loan calculator
Thunder Bay Ventures has procured business resources for the local entrepreneur click here to access these free resources to use in your business.
Thunder Bay Ventures provides financial assistance to businesses in the Thunder Bay CMA. We finance new business starts as well as expansions to existing businesses in amounts up to $300,000.
What are Microloans?
This Microloan product is a new offering from Thunder Bay Ventures. It is a simpler and quicker way of getting smaller investment amounts approved and disbursed. By creating this new class of loan product, Thunder Bay Ventures hopes to get more dollars into the business community creating more jobs and creating more economic activity.
How long until I get approved?
To facilitate a quick loan process, the microloan product will have a turn around time of four weeks. That’s four weeks from the time of the application to board approval and disbursals of funds
What will my interest rate be?
These microloans have a comparable rate of interest to our regular investments. The interest rate will be based on the term length and perceived risk of the investment.
Community Futures Development Corporations (CFDCs) in Northwestern Ontario now have the ability to provide loans to Northwestern Ontario businesses in excess of their normal lending cap of $300,000, to as much as $600,000. With the help of the CFDCs’ funding partner, FedNor/Industry Canada, these loans are available to Northwestern Ontario Businesses for starting a new business or expanding an existing
Business has been impacted by Covid -19, must not have received other government assistance/ financial relief (CEBA). Businesses must show a regression in revenue because of Covid-19. The loan is 75% repayable if paid prior to December 2022.
Do you have questions? Connect with an associate
Thunder Bay Ventures is here to help you and your business. Small business is the backbone of Northwestern of Ontario and we are here to answer any questions you may have. Fill out our contact form and an associate will get back to you as soon as possible.