The ACCTerm loan, a specialized offering from ACCFutures' investment fund, is crafted to support the entrepreneurial spirit in Akwesasne, Cornwall, and The United Counties of Stormont, Dundas & Glengarry. Available in amounts ranging from $20,000 to $300,000, these loans are designed flexibly to meet our community's businesses' unique needs. The loan terms can extend up to a maximum of five (5) years, with an option for an amortization period of up to twenty (20) years. This structure, whether used for expansion, renovation, equipment purchase, facility acquisition, working capital, or debt refinancing, aligns with the purpose of the loan and the lifespan of the assets used as security, ensuring a tailored financial solution.
Business must be registered within ACCfutures' jurisdiction (Akwesasne, Cornwall, and the SDG Counties).There will be no restriction on the sector of the enterprise eligible to receive assistance, with the exception that the proposed enterprise must:
- Be suitable for public funding (i.e. not involving the commercial exploitation of sex, religion, politics or illegal activities);
- Indicate commercial viability; and
- Demonstrate an ability to repay funds advanced on a loan or equity participation basis.
To be eligible for assistance, the proposed enterprise must demonstrate that it has the potential for new job creation or job maintenance within the ACCFutures jurisdiction. Loans can be made to establish, expand or maintain a business.
- No member of the Board of Directors shall receive assistance;
- No grants, contributions or forgivable loans will be made by the ACCFutures under the Investment Fund unless as otherwise determined based on additional directives or funding programs (for example, Regional Relief and Recovery Program);
- Employees of the ACCFutures are restricted from receiving assistance;
- Applicants who are in a status of undischarged bankruptcy are not eligible for financial assistance during this time;
- Applicants who have declared bankruptcy two or more times are not eligible for assistance
- Minimum credit score of 550
- Application fee is 1% of Loan. Minimum of $250