IMPACT360 LOAN
Are you part of the IMPACT360 program? If so, this fund is for you.
The IMPACT360 Loan is designed to provide financial support to individuals with an innovative business idea who want to bring their project to life and build a prosperous future.
Please ensure that you submit ALL supporting documents along with your application form. All required fields in each section must be completed. Incomplete applications will not be considered or evaluated.
If you have any questions, please contact us at 613-632-0918 or by email at info@sdcpr-prcdc.ca.
The IMPACT360 Loan is designed to provide financial support to individuals with an innovative business idea who want to bring their project to life and build a prosperous future.
Please ensure that you submit ALL supporting documents along with your application form. All required fields in each section must be completed. Incomplete applications will not be considered or evaluated.
If you have any questions, please contact us at 613-632-0918 or by email at info@sdcpr-prcdc.ca.
- Term loan of up to $30,000 available to qualifying businesses.
- Applicable interest rate: the SDCPR prime rate + 3%.
- Flexible terms and repayment options.
- Maximum amortization period of 5 years.
- Possibility of a principal repayment grace period for the first 12 months.
- Project viability assessment and assistance in securing realistic financing.
The IMPACT360 loan cannot be used to repay debts or obligations owed to the Government of Canada, the Government of Ontario, or any other municipal/regional government. Grants, bursaries, or forgivable loans are not available through the Investment Fund loan program.
To be eligible to receive financial assistance, the business must:
To be eligible to receive financial assistance, the business must:
| Applicant Eligibility Criteria | |
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Must be a participant in the IMPACT360 program. |
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Must have completed the program training and business plan. |
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Must have completed the GrowthWheel training. |
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Must be legally registered or incorporated and in good standing with the appropriate Ontario authorities |
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Must demonstrate a significant presence or business activities within the area served by the fund (Prescott and Russell). |
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Must be financially viable and capable of managing financing of up to $30,000. |
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Not be in bankruptcy, insolvency, or involved in major litigation that could jeopardize the successful completion of the project. |
| Project Eligibility Criteria: The project must: | |
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Address a clearly identified need within the Prescott & Russell region; |
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Be feasible within a timeframe of 12 to 60 months; |
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Present clearly defined objectives, activities, and expected outcomes; |
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Include indicators that allow the project's impact and results to be measured; |
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Demonstrate potential for long-term sustainability or a lasting structural impact beyond the funding provided. |
| Special Conditions: The applicant must: | |
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Provide a business plan with a detailed and balanced budget; |
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Demonstrate, where possible, a financial or in-kind contribution from other partners; |
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Agree to participate in the monitoring and evaluation activities of the IMPACT360 program; |
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Submit a final report outlining the results achieved and how the funds received were used. |
| Eligible Expenses | Ineligible Expenses |
Expenses may include:
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Funding may not be used to:
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To ensure a smooth application process, please prepare the following documents as they must be attached and submitted with the application form:
| Documents to submit with the funding application form | |
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Business registration or articles of incorporation; |
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Identification proof with photo (driver's license, passport, health card) - each applicant |
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Proof of citizenship permanent residency for newcomers (if applicable) - each applicant |
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Applicant and partner last income tax statement or notice of assessment - each applicant |
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Most recent financial statements (if applicable). |
| Documents to download and submit with the funding application form | |
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Appendix A - Finance ratio |
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Appendix C - Personal finances - each applicant |
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Disclosure of personal information - each applicant (to downlaod if more than one owner) |
Before submitting an application
- Have you read and understood all the eligibility criteria? Are you eligible for funding according to the criteria?
- Do you have all the required documents to submit your application?
- You have questions before you begin the application process? Contact us at info@sdcpr-prcdc.ca. We will be more than happy to work with you and answer any questions or concerns.
If the Board of Directors rejects a financial assistance proposal, the applicant may appeal the decision to the Board of Directors.
If a client requests an appeal, members of the Board of Directors may be invited to attend a meeting with the client in question. The intention is to have the appeal heard by the required majority of the members. If the request is subsequently refused upon review by the Board, the applicant will have no further recourse for appeal.
If a client requests an appeal, members of the Board of Directors may be invited to attend a meeting with the client in question. The intention is to have the appeal heard by the required majority of the members. If the request is subsequently refused upon review by the Board, the applicant will have no further recourse for appeal.