Community Foundation launches new agri-innovation loan
The Community Foundation of Kawartha Lakes (CFKL) in partnership with Business Community Development Corporation (BCDC), has announced a new loan program geared to support local rural agricultural innovators and entrepreneurs in search of new ways to grow, produce, manufacture or distribute good food — from farm to table.
Agriculture is a leading economic driver in Kawartha Lakes, so a thriving rural economy based on agriculture, is closely aligned with the founding inspiration of the Community Foundation of Kawartha Lakes, says a media release.
Start-up family agriculture and effective farm management has been a strong and long-standing tradition in this community. The goal of this agri-innovation loan program is to encourage and support this tradition to continue and strengthen for years and generations to come.
“The BCDC is proud to partner and collaborate with CFKL in this new and innovative funding program. These endeavours help to form the backbone of new and exciting economic development initiatives in our region. We are happy to provide funding to assist entrepreneurs in this important business sector. The goal is to ensure we sustain and develop new ideas for innovation and growth in agriculture and help diversify their business models and grow revenues for the future,” explains Vince Killen, executive director, BCDC
With a low-interest social investment fund, this loan program is geared to assist local farmers and entrepreneurs interested in food services, new products and innovations, providing access to funding which otherwise would not be feasible or available. Loans between $10,000 and $25,000 are being offered with flexible repayment terms and competitive interest rates to ensure this critical funding gap is filled.
“It’s exciting for the foundation to be able to offer the agri-innovation loan program to help Kawartha Lakes’ farmers diversify and innovate. We’re looking for applications from people who have a solid business plan but need some capital to get the idea moving forward,” said Harry Stoddart, CFKL secretary.
Loan proposals are limited only by the applicant’s imagination. They must be innovative in nature by design, and must be supported by a sound business plan or an intriguing idea with achievable goals and expectations. The Community Foundation team is here to help, says the media release, ensuring accessible consultation and streamlined application and approval.
The foundation can connect applicants to the knowledge, opportunities and partners needed to make a difference. The foundation’s focus is on strengthening local philanthropic network by connecting people who care with the creation of lasting legacies that address gaps in local human services, public infrastructure, agriculture and community economic development.
If you have a great idea and want to consider a loan application or you want learn more about the foundation and its philanthropy, contact Margaret Cunningham at 705.731.9775 or email: . For foundation information, visit www.kawarthafoundation.ca