Community Futures Development Corporations

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Community Futures Development Corporations and
your Community
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CONTENTS

• What is Community Futures?
• Our Services
• Community Economic Development
• Business Development
• Business Counselling
• Access to Capital
• Business Training
• Access to Business Information and Resources
• Our Results

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What is Community Futures?

• A local community renewal initiative supported by
  the Government of Canada (Western Economic
  Diversification).
• We take a community economic development approach
  to strengthening rural, northern and remote
  communities.
• Local Control, Local Decisions (Activities
  governed by a locally-appointed Board of
  Directors).

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What is Community Futures?

• Operate in 16 geographic or cultural regions in
  Manitoba. Includes Wheat Belt CFDC in Brandon,
  Heartland CFDC in Portage la Prairie and Triple R
  CFDC in Morris.
• Centrally-located offices staffed by CED and
  business development professionals

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Our Services

• Two Main Types
• Community Economic Development
• Business Development
• Services are mostly provided free-of-charge.
  Contact your local CFDC to determine if there are
  fees for any service you may be interested in.

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Community Economic Development Services

• Assistance with Developing Funding Proposals
• Take Lead Roles in Initiating and Implementing
  Community Projects
• Planning/Facilitation Services for Communities
  Non-Profit Groups
• CED Resource and Information Dissemination

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Community Economic Development Activities
C-Fan (Childcare-Family Access
Network) Heartland CFDC
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Community Economic Development Activities
Discover Manitoba Conference and Expo Wheat Belt
CFDC North Central Development
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Community Economic Development Activities
Get Involved Youth Guide and Initiative Parkland
CFDC
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Business Development Services
Business Development Counseling Access to
Capital Business Training Initiatives Access to
Business Resources/Information
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Business Development Counseling

• Assistance with preparation of business or
  marketing plans
• General business counseling on a variety of
  issues including financial analysis, bookkeeping,
  cash flow management, and e-Business readiness

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Access to Capital

• CFDCs offer repayable
• loans under three
• programs
• Regular Loan Fund
• Entrepreneurs with Disabilities Program (EDP)
• Western Youth Entrepreneur Program

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Access to Capital
Loans are used to create new businesses or
expand or maintain existing businesses (job
creation).
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Access to Capital Loan Terms

• 125,000 maximum, (25,000 max. for Youth Loans)
• Interest rates vary from Prime 2 to Prime 4
• Generally 5-year terms and amortization
• Require a minimal equity contribution
• from client often 10

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Access to Capital

Loan funds are intended to complement
conventional financing, not to replace it, thus
many CFDCs tend to act as a supplemental or
secondary lender. Some also offer other forms of
financial support such as loan guarantees and
equity investments.
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Access to Capital

CFDC loan funds are small compared to most
financial institutions. As a result, we seek
sufficient security whenever possible but do not
necessarily limit security taken to business
assets. However, the small fund size also allows
us to provide more in-depth counseling than most
lenders often provide extensive pre-loan
assistance with cash flow or business plan
preparation.
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Access to Capital Ineligible Activities

• CFDCs do not do direct agricultural lending,
  however value-added agricultural lending is
  within our mandate
• Do not do personal lending or personal debt
  consolidation
• Most CFDCs do not have the ability to do direct
  lines of credit

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Business Training Services

• CFDCs offer a wide range of training programs to
  support their overall goal to help encourage a
  healthy local small business sector and build
  entrepreneurial capacity in their communities.
  Topics center around two basic themes
• Starting and managing a small business
• Specialty training initiatives targeted to
  address specific local needs

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Specialized Business Training Initiatives
Aboriginal Small Business Training
Program NEICOM CFDC Riverton
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Specialized Business Training Initiatives
Eco-tourism Training Program Winnipeg River
Brokenhead CFDC
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Business Training Services SE Program

Many CFDCs are contracted by Manitoba Advanced
Education and Training to coordinate the
Self-Employment (SE) Program in their areas. The
SE program allows clients receiving or eligible
for Employment Insurance to receive training and
financial support while starting a business.
CFDCs assess the clients business ideas,
provide them with intensive counseling and
mentoring, and monitor their progress through all
the stages of business start up.
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Access to Business Resources and Information

CFDC's are members of the Western Canada Business
Service Network (WCBSN), a network of business
professionals spanning western Canada that can
help you to establish and grow your business and
your community.
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Access to Business Resources and Information

• As WCBSN members, we work in partnership with and
  often refer our clients to other agencies that
  can provide invaluable assistance to business
  owners, including
• Western Economic Diversification Canada
• Canada/Manitoba Business Service Centre
• Womens Enterprise Centre
• Francophone Economic Development Organizations

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Access to Business Resources and Information

• Services available through the Western Canada
  Business Service Network include
• Business and entrepreneurial assessment
• Business planning and development
• Market research
• Accessing capital
• Export or trade development,
• Selling to government markets
• Providing information and links to government
  programs and services

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Access to Business Resources and Information

CFDCs are also members of the Canada/Manitoba
Business Service Centres network of satellite
sites, and as such offer on-site business
resource libraries and computer workstations with
access to the C/MBSCs host of on-line research
and business planning tools.
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Our Successes in 2003 - 2004

• Client Contacts - 62,831
• Number of Loans 171
• Loans in Dollars - 4,986,446
• Jobs Created From Loans 578.5
• CED Projects
• -Short Term - 180
• -Long Term - 111

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Finding Your Local CFDC

• Visit the provincial association website at
  www.cfpm.mb.ca and use our CFDC directory,
  complete with automatic CFDC locator for your
  community
• Contact the association by E-mail at
  info_at_cfpm.mb.ca or by phone at [phone].
• See our CFDC ads in the Yellow Pages under
  Economic Development for the phone of your
  local CFDC

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Thank You!