Get A Loan To Start Or Grow Your Business

ACCESS Community Capital Fund helps people facing financial barriers get low-interest loans up to $5,000 for business. Loans can be used to start or expand a business within the Greater Toronto Area & Hamilton. ACCESS also provides pre-application and post-loan supports to potential applicants and clients.

How Does It Work?

  • Eligible applicants must submit a completed and signed loan application, business plan and cash flow; and supporting documents.
  • ACCESS staff will review the application and supporting documents and give the applicant feedback and next steps.
  • If everything is in order, the application is forwarded to our Loan Review Committee (LRC) and an in-person interview arranged with the applicant.
  • The LRC will make a collective decision on the application; whether to approve or deny the loan application.
  • Approved applications will move to the disbursal stage through our financial partners Alterna Savings Credit Union or CIBC.
  • The term of the loan is between 12 to 36 months.
  • The interest rate on the loan is Bank Prime + 1.25%.
  • one-time 5% admin fee is applied to an approved loan (e.g. $250 on a $5,000 loan).

Who Can Apply For A Loan?

To apply for a loan, you:

  • Must be 18 years of age or older
  • Must be a Canadian Citizen, Permanent Resident or Convention Refugee
    with the legal right to work in Canada
  • Must live within the Greater Toronto and Hamilton Area (GTHA)
  • Must be in good standing with CRA:
    • Up to date on your taxes and not owing
      OR
    • Have a payment plan in place with CRA and have made at least 3 consecutive monthly payments
  • Must be low-income (based on the household Low-Income Measures thresholds)
  • Must not be in active bankruptcy or consumer proposal
    OR
  • Must have been discharged for at least six months (we will need to see discharge papers)

You Can Apply for a Business Loan If Your Business Is:

  • Located in or operating from the Greater Toronto & Hamilton Area (GTHA);
  • Offering a product or service;
  • Not in one or more of the following: franchise, promoting smoking and related accessories, nudity, weaponry;
  • Legally registered (in the case of a partnership or corporation with more than one director, all partners and directors must co-sign the application).

How Do I Apply For A Loan?

If you fit all of the above eligibility criteria, visit the link below for more information.