Getting Started in Norfolk (GSIN)
The first year of small business startup offers significant challenges in adjusting to the uncertainty of the business cycle. As you consider starting a new small business in Norfolk County, the Getting Started in Norfolk loan, available through Venture Norfolk, will help you prepare for those challenges.
What You Get
- A loan of up to $10,000
- An interest rate of Royal Bank Prime + 2.0%
- Monthly interest only payments in first year
- An amortization period up to 5 years
- Free professional guidance from community partners on key small business topics
- Monthly meetings to help monitor your progress
- A $500 grant is available on the first anniversary of the loan for qualified applicants
How to Apply (at www.venturenorfolk.ca):
- Register for the Starting a Small Business seminar at Venture Norfolk
- Prepare a business plan – your blueprint to your business proposal
- Prepare a one year cash flow projection
- Meet with Venture Norfolk staff: call 519-428-2323 or fill out the contact form to request an appointment
- Present your business plan to the Venture Norfolk committee
Eligibility:
- you must be engaged in a full time business activity
- the business must be located in Norfolk County
- the business must have been started recently (preferably in 2016)
- the business must be a legal entity suitable for public support
Process:
- Business plan/cash flow
- Application/Personal Financial Statement
- Presentation to the Venture Norfolk committee for feedback/participation
- $500 grant requirements:
- monthly monitoring meeting (includes financial reporting)
- evidence of business registration/liability insurance
- consultation with biz skill
- two networking meetings
- grad recognition (newspaper/AGM/website)