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Posted: March 20, 2020

Community Futures taking steps to help businesses

The Community Futures East Kootenay office is no longer taking in-person appointments or walk-in visits. The health and safety of our staff and their families is critical as we continue to do our part.

More information is available on our website and via Facebook.

The COVID 19 pandemic is currently affecting every community, industry and business in Canada. Community Futures offices across Canada have been working to develop and implement strategies to help entrepreneurs and small businesses cope with impacts of market disruption, business closures, travel interruptions and the need for social distancing in their communities.

Community Futures East Kootenay is taking two immediate steps to provide assistance to entrepreneurs and small businesses in our service area.

First, we are providing a three-month Payment Relief Program for all of our current clients. CFEK is suspending interest and waiving fees until June 30, 2020 so that our clients have one less thing to worry about. We are reaching out directly to each of our existing clients with this offer.

Second, Community Futures East Kootenay is offering a special repayable term loan product. This emergency credit facility is aimed at helping entrepreneurs and small businesses remain operational during this exceptional time. Existing businesses in our service are eligible to apply for an emergency loan of up to $20,000 with limited security requirements, pragmatic terms and conditions, and a rapid response time. We are also continuing to offer all of our regular term loan options.

More details about both programs are available here.

We recognize that the businesses in our communities are vital and that they are vulnerable to the inescapable economic effects of this pandemic. We are working with our partners, including all levels of government, Chambers of Commerce, business associations and other service providers, to respond to the evolving and growing needs of our business community.

Lead image: Community Futures staff, board members and some clients during the grand opening of the Co-working Space in downtown Cranbrook in 2018. e-KNOW file photo

Sean Campbell,
Community Futures East Kootenay General Manager

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