Micro Loan Applications
If you feel that your business idea fits the defined eligibility criteria below, you are invited to fill in a Micro Loan Application.
Note: The application is in "PDF" format. Please download Acrobat Reader in order to read the form.
The purpose of the Micro Loan is to encourage and nurture new and existing business which will create and/or maintain permanent full-time and/or permanent part-time jobs in the PACE region and surrounding First Nations.
- Micro Loans will range from $500 to $15,000 in repayable financing
- Eligible applicants or businesses can apply for up to two separate Micro loans
- Micro Loans are to be amortized between one and three years
- Interest rate will be bank prime +2%
- The Approval Group shall consist of three – Business Development Coordinator, General Manager and one other board member (in the absence of Business Development Coordinator the General Manager and two board members).
- Confidentiality of relations and dealings between PACE and its clients is paramount
- Eligibility Criteria similar to our present structure for financing
- Flexibility is key especially in start-up situations
- Loans are made on a secured basis
- PACE may undertake loans of this nature when other lenders have refused credit
- All charges relative to the preparation, execution and registration of such documents required by PACE will be payable by the client
Completed applications should be forwarded to the Business Development Coordinator:
P.O. Box 668
Dryden, ON P8N 2Z3
If you have any further questions, please contact us: