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Activities and Projects

Community Investment Loan Fund

Goals:    

To deliver a community investment fund and related services

Objectives:    

Disburse loans to businesses in South Simcoe that are unable to procure funds from traditional sources

Status:   

The South Simcoe Investment Review Committee continues to actively review South Simcoe loan applications. FedDev originally provided $2,648,000 in capital.  As of January 1, 2021, $11,557,161.74 has been disbursed to businesses in South Simcoe. To date, $11,250,271.45 has been leveraged from the owners and other traditional financial services for South Simcoe businesses due to the business counselling and/or investment loans provided. Since inception, 4,753 jobs have been created or maintained due to business counselling and/or investment loan activity. 

        

Activity for April 1, 2020 –March 31, 2021  

Achieved

Number of loans disbursed

10

Value of loans disbursed

$688,000

Value of funds leveraged

$350,000

Active portfolio ratio

94.21%

Number of jobs created and maintained

28