Kawartha Lakes Community Foundation launches new Agri-Innovation loan
The Kawartha Lakes Community Foundation has partnered with the Business Community Development Corporation (BCDC) to offer a new loan program to support local rural agricultural innovators and entrepreneurs looking for new ways to grow, produce, manufacture or distributing good food, from farm to table.
Agriculture is a major economic driver in Kawartha Lakes. A thriving rural economy based on agriculture is therefore closely linked to the founding inspiration of the Community Foundation of Kawartha Lakes. Family start-up farming and effective farm management have been a strong and long-standing tradition in this community for centuries. The goal of this agro-innovation loan program is to encourage and support this tradition so that it continues and grows stronger for years to come.
“These efforts are helping to form the backbone of new and exciting economic development initiatives in our region. We are happy to provide funds to help entrepreneurs in this important line of business. The aim is to ensure that we support and develop new ideas for innovation and growth in agriculture and help to diversify their business models and increase their income for the future ”, explains Vince Killen, Director executive of BCDC.
With a low-interest social investment fund, the loan program helps local farmers and entrepreneurs interested in food services, new products and innovations, providing them with access to finance that would otherwise be unavailable. would not be feasible or available. Loans between $ 10,000 and $ 25,000 are offered with flexible repayment terms and competitive interest rates to ensure this critical funding gap is closed.
“It’s exciting for the foundation to be able to offer the Agri-Innovation Loan Program to help Kawartha Lakes farmers diversify and innovate. We are looking for applications from people who have a solid business plan but need capital to move the idea forward. before, ”said Foundation Secretary Harry Stoddart.
Loan proposals are only limited by the imagination of the applicant, but should be innovative in nature by design and supported by a solid business plan or intriguing idea with achievable goals and expectations. The foundation team will assist through accessible consultations and help streamline applications and approvals.
Those interested in applying for a loan or learning more about the foundation should contact Margaret Cunningham at 705-731-9775 or email [email protected] Information about the Foundation can also be found on the organization’s website at www.kawarthafoundation.ca.