Eligibility

You are eligible to apply if:
  • You are 18 years or older
  • You live in the City of Ottawa and have permanent legal status in Canada
  • Own no less than 51% of the business in the case of the corporation and have the signature of all the shareholders; in the case of a partnership all partners must be willing to co-sign for the loan; in the case of a non-profit, the President and two officers with signing authority will make an application to OCLF and in the case of a co-operative, all members will make application to OCLF.
  • Demonstrate an ability and commitment to repay the loan as confirmed by credit checks and references.
  • If applicable, have been discharged from bankruptcy for at least one year, as confirmed by a credit check.
  • Agree that OCLF will be the first secured party for existing equipment and vehicles that may be pledged as security for the loan.
  • You have no outstanding debts on which there are payment defaults
  • You can submit a business plan including start-up costs and a monthly cash-flow projection for the next two years. In the case of an expansion of an existing business, financial statements will be required.
Your Business Must
  • Be located in or around Ottawa
  • Be, or will be, a legally registered sole proprietorship, partnership, corporation or co-operative.
You Must
  • Use the funds to start or expand business operations
  • Not be using the funds to consolidate debt