Whether an entrepreneur is launching a new business or looking to expand an existing one, obtaining financing to realize their vision is often the greatest challenge.
Fortunately, Community Futures Peterborough makes it easy for entrepreneurs and business owners in the City and County of Peterborough to apply for a flexible, personalized loan that suits the specific needs of their businesses.
“Every single dollar that is lent out through Community Futures Peterborough is returned back into that same lending fund to be re-dispersed only within our community,” says Community Futures Peterborough executive director Devon Girard. “That money is constantly being reinvested back into businesses and entrepreneurs in our area.”
Celebrating 40 years in 2025, Community Futures Peterborough has been a trusted resource for financial and business advisory support for entrepreneurs since 1985. Funded by the Government of Canada through the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), the not-for-profit organization offers flexible loans to businesses – including those that may not qualify for financing from traditional lenders.
“Traditional lenders require historical sales information or a minimum credit score, but for someone who’s just starting out and within their first year or two of business, they don’t have that track record or proven success rate,” says Braden Clark, Loans Manager with Community Futures Peterborough. “We are willing to take the risk on investing in those clients.”
That risk is evaluated by the organization’s 12-member volunteer board of directors, which reviews and approves each loan application. Not only do board members have a range of experience and expertise in business, finance, and law, but they also live in the community.
“Because our board of directors is comprised of local volunteers, there’s a chance they may know the applicant, they may know the business, and they may have insights into the industry on a local level,” Clark explains. “We’re very personalized in our approach and work one-on-one with each client and evaluate them as a person, not a number.”
The board takes what Clark calls a “holistic approach” to reviewing loan applications, using the 5 Cs of credit to analyze risk: character (a borrower’s credit history, credit score, and payment), capacity (a borrower’s income and ability to repay a loan), capital (a borrower’s net worth), collateral (assets a borrower can use to secure a loan), and conditions (external factors such as the economy that may affect a borrower’s ability to repay a loan).
Given this personalized approach, Community Futures Peterborough can review and approve some loan applications within as little as 24 hours, ensuring entrepreneurs have quick access to funds.
Such was the case for Ashley Woollacott, who needed to acquire new equipment for her Peterborough business Summer Soul Yoga & Wellness.
“We highly recommend Community Futures for their exceptional support throughout our loan process as we prepared to purchase Pilates Fitness Reformers,” says Woollacott. “The team made the entire experience quick, straightforward, and hassle-free. We purchased and paid for the Reformers all within a couple of days.”
Woollacott was one of 21 graduates of the 2024 Starter Company Plus Program, the first cohort of the provincially funded entrepreneurial training program offered through Community Futures Peterborough’s Business Advisory Centre. Along with expert guidance and one-on-one mentorship, graduates received a conditionally pre-approved micro-loan as well as a free six-month membership with the Peterborough and Kawarthas Chamber of Commerce.
For Owen Walsh, co-owner of downtown Peterborough’s Love You, Mean It bar and restaurant, the Starter Company Plus program provided the mentorship he and co-owner Sam Sayer needed to establish their business.
“The Starter Company Plus program was a great tool for us to learn new skills to help our business excel in its first year,” says Walsh. “Getting a loan through Community Futures was a great help in the startup of our restaurant. It was a straightforward process that allowed us more flexibility in our opening months.”
And with a loan from Community Futures Peterborough, Walsh and Sayer had the finances they needed to transform Love You, Mean It into the contemporary and elevated restaurant it is today.
“We were excited to hear Sam and Owen’s plans to start their new venture together, helping to fill a vacant space on Hunter Street,” says Clark. “Our funding helped them complete the necessary renovations.”
Given that each of Community Futures Peterborough’s advisors has more than 10 years of experience in business ownership/management, and with their focus on supporting local entrepreneurs, the organization works one-on-one with each client to customize a solution that meets both their needs and any challenges they face.
“We can come up with a repayment solution that works best for the client’s budget,” says Clark. “If they’re in a tourism industry with a large seasonal influence on their revenue, we can customize payment plans so their payments are higher in the months when they have more revenue coming in. We also can respond quickly if a client is in a situation where they need to defer a payment.”
All loans from Community Futures Peterborough are open and repayable at any time without penalty to the client.
“If an entrepreneur has a fantastic season and wants to pay off our loan completely, they can do that and there’s no penalty associated,” says Clark. “Again, it will go back into the loan fund and get cycled back into our community.”
Flexible loans are available whether an entrepreneur needs financing to start a new business, expand an existing one, or buy an established business.
Such is the case with Katie Küntz, who needed a loan to purchase Peterborough arts and craft retailer and creative hub Watson & Lou from the original owner.
“The application process through Community Futures was both comprehensive and flexible,” Küntz says. “They were very accommodating in working with me to achieve my specific goals.”
“The business I purchased is a beloved Peterborough staple, and without the assistance from Community Futures, it’s unlikely the business would have been able to continue operating. Their support has been invaluable in helping me transition the business and carry it forward.”
For more information on Community Futures Peterborough’s financing options, visit communityfuturespeterborough.ca/loans.
This branded editorial was created in partnership with Community Futures Peterborough. If your organization or business is interested in a branded editorial, contact us.
