ELNOS

Phone: 705.848.0229

Fax: 705.848.1539

Toll Free: 1.800.256.7299

Low Interest Loan

ELNOS' Low Interest Loan program is designed to compliment facade improvement programs such as the City of Elliot Lake's Community Improvement Program (CIP).

Businesses will be eligible to apply for funding using the following basic criteria:

  1. The project must be an approved facade improvement initiative, such as the City of Elliot Lake's CIP Program.
  2. Loans will be made up to a maximum of $20,000 or 40% of the project cost.
  3. The interest rate is 2.5%
  4. The proponent must show a minimum 10% equity contribution to the project.
  5. Loans will normally be repayable over 30 months.

The simplified loan application will consist of the submission of the confirmation of the project approval documentation and the project budget showing sources of funding.

ELNOS instituted the new program as an acknowledgement of the importance that facade improvements have on the overall look and economic well being of a community's business area, and to encourage business owners to reinvest in their properties.

ELNOS Communities

 
 
You are here: Home Programs Low Interest Loan