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Options for Community Futures Nicola Valley Loan Clients

We know the measures being implemented by the federal government to stop the spread of COVID-19 are having a serious impact on small business owners in the Nicola Valley, as people are self-isolating and avoiding gathering places. To support our loan clients during this period of uncertainty, Community Futures Nicola Valley is making the following options available, upon request and demonstration of need:

1) Existing loan clients

You will have the following two options to help you with your cash flow:

Option 1: Existing loan clients may request a 3-month “Skip payment”. With this option, we will skip your monthly principal payments in April, May and June. Those skipped principal payments can be made up anytime during the remaining term of the loan. CFNV will re-evaluate this situation at the end of the three months. If needed, an extension might be considered.

Option 2: Existing loan clients may request a 3-month interest payment only. With this option, client will pay interest only for the months of April, May and June. CFNV will re-evaluate this situation at the end of the three months. If needed, an extension might be considered.

 

2) New & existing loan clients

New and existing clients may take advantage of the COVID-19 Loan Program for Small Business Emergency Response Application. This program provides financial support to businesses that have not been able to operate or have operated at a reduced level for more than 5 days due to the emergency situation. Financing is provided in the form of a repayable loan with relaxed terms and interest rates for up to $20,000.00


 

Please contact our Business Analyst if you would like to take advantage of these options.

 

Understanding Your Equifax Consumer Credit Report

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Community Futures Nicola Valley in partnership with Michael Sumbler, the Manager of Global Business Services for Equifax Canada, will be delivering this seminar "Understanding Your Equifax Consumer Credit Report". Michael Sumbler will be delivering this session via video conference.

Have you checked your beacon score lately? Do you know the difference between a soft hit vs a hard hit and their impact in your credit score? To answer these and more questions, join us on March 4th, 2020 at 6pm at the Civic Centre.

Thanks to an exciting new sponsorship with Boyd Autobody & Glass, Community Futures will now be able to offer this event free of charge!

You can make your reservation at: https://www.eventbrite.ca/e/understanding-your-equifax-consumer-credit-report-tickets-93536571403

This session will:

a)    Provide participants with a better understanding of what is contained in a Consumer Credit File;

b)    Equip participants with the knowledge to better interpret credit files,

c)    Help participants make better credit decisions to increase their credit score;

What is specifically covered:

  • Fast facts about Equifax;
  • Our search logic;
  • The different sections and fields of the credit file;
  • Portfolio Types and Ratings;
  • Consumer Retention and Purge Rules;
  • Scores and Score Characteristics, and much more.

We look forward to seeing you there!

 

 

 

 

 

 

 

Interested in starting and running your own business this Spring?

Community Futures Nicola Valley "CFNV" in partnership with the City of Merritt and the School District 58 is delivering the Merritt Youth Entrepreneur Program "MYEP" to grade 6 & 7 to students from local elementary schools. Applications must be received by Wednesday February 5th, 2020. Applications can be submitted to CFNV or to your grade 6 & 7 teacher.

Benefits:

This program not only provides up to $150.00 start-up funding (grant), but also provides business resources to support the students in their entrepreneurial path such as:

  • These students are allowed to operate their business in the City of Merritt without holding a business license;
  • Advertising through local media channels;
  • Access to graphic designing tools to create promotional material for their business;
  • The students can also advertise their business using CFNV website as well as our social media platforms;
  • On-going support to students while running their business;
  • A working space will be made available on request; and much more.

Businesses will have the opportunity to sell their products at the Summer Nights Market (July-August 2020) and the Country Christmas Craft Fair (November 27-28, 2020).

The required training will be delivered between February 17th and 21st, 2020. Funding will be granted to students upon completion of this training.

 

For more information about this program, please contact Manuel Olguin at This email address is being protected from spambots. You need JavaScript enabled to view it. or call the office at 250.378.3923

 

Non-Profit Community Engagement Fair 2020

Non Profit Fair 2020 Website

Community Futures Nicola Valley invites you to attend the 2nd Annual Non-Profit Community Engagement Fair on Saturday, May 2nd, 2020 from 10:00am to 3:00pm at the Merritt Civic Centre.

This is your chance to get to know the services available to you in the community from Non-profit Organizations, Recreational and Special Interest Groups!

Admission is FREE to the public.
$15 to reserve your table.
RSVP to This email address is being protected from spambots. You need JavaScript enabled to view it..