Business Loan with GEDC
Step-by-Step Guide to GEDC Loan Applications
Firstly, our thanks for choosing the Greenstone Region to start your new business.
This guide has been produced by the Greenstone Economic Development Corporation (GEDC) to assist the entrepreneur wishing to start a business in Greenstone and surrounding area.
GEDC is a federally supported not-for-profit Community Futures Development Corporation governed by volunteers in partnership with FedNor / Industry Canada. The services provided by the GEDC are to promote and assist the economic growth and community development of the Greenstone region. The centre focuses on job creation by community strategic planning and providing funding and advisory services to area businesses, new and existing.
In Canada, 95% of businesses are small with annual sales under two million dollars and are responsible for one-third of the total gross national product. They employ over one-half of the working population and are the single most important force in the creation of new jobs. The self-employment sector is very important to Canada's overall economy. In the Greenstone area, the self-employment income, as a percentage of employment income, surpasses both the provincial and national average.
Operating your own business can be very exciting and rewarding, provided you approach it with the correct information and appropriate tools. This guide is designed to assist the entrepreneur in finding the tools, providing information and direction to other available services and opportunities.
Many individuals look to starting their own business as one way to become successful. Some, no matter how well they are managed are never successful, and others only marginally so. It is essential, therefore, for the prospective entrepreneur to closely examine the business concept, the marketplace and skills required for success before making large investments of time and money. This guide concentrates on the 'steps to take' before making those large investments.
This guide is intended for information purposes only. You are advised to contact the respective municipal, provincial or federal agency to receive the guidelines and understand the requirements pertinent to your individual business.
To the best of our knowledge, the information contained herein is current at time of printing, however information can become dated soon after publication. If you find any inconsistencies, please let us know.
- Appointment with Greenstone Economic Development Corporation to assess business idea.
- Assessment of ability to borrow.
- Completion of Loan Application forms.
- Development of Business Plan.
- Business Registration
- Goverment Regulations
- WSIB
- Financing
- Income Tax
- Insurance
- Intellectual Property
- Advisors & Mentors
- Checklist
- Board review of Business Proposal.
*Advancement through steps is dependant upon the potential client's business idea and ability to borrow.
Contact InformationSylvie Goulet
Business Development Officer
Telephone: (807) 854-2273 ext 27
E-mail:
