About The Ottawa Community Loan Fund (OCLF)

Are You Eligible?

Small Business Loans
Internationally-trained Professional Loans
Canadian Youth Business Foundation Loans

Small Business Loans

You are eligible to apply for OCLF small business loans if:

You are 18 years or older and not attending school on a full-time basis.
You live in the City of Ottawa and have permanent
legal status in Canada.
You have sole ownership in the company or partners that are willing to co-sign for the business loan.
You can demonstrate to the satisfaction of OCLF
that you can fully repay the loan.
If applicable, you have been discharged from bankruptcy.
You can submit a complete business plan including
start-up or expansion costs, and a cash flow forecast.
You have participated in a business training program
associated with OCLF or, you are presently operating
a business and can supply the required documentation or;
you have experience in a similar business.

Your business must:

Be located in the City of Ottawa and operates a minimum of 10 hours per week.
Not be a network marketing business.
Be, or will be, a legally registered sole proprietorship,
partnership, corporation or co-operative.
Use the funds to start or expand business operations.
Not be applying the funds to consolidate debt.

Internationally-Trained Professional Loans

You are eligible to apply for the OCLF Internationally-trained Professional loans if:

You are 18 years or older and you have been accepted into a recognized accreditation program for Internationally-trained professionals.
You have been referred to the OCLF by one of these accreditation programs.
You live in the City of Ottawa and have permanent
legal status in Canada.
You can demonstrate to the satisfaction of OCLF
that you can fully repay the loan.
If applicable, you have been discharged from bankruptcy.

Canadian Youth Business Foundation Loans (website)

You are eligible to apply for a Canadian Youth Business Foundation Loan if:

You are between 18-34 years old
You are eligible to work in Canada
You have some training/experience related to their business idea
You agree to work with a mentor for the duration of the loan term (3 to 5 years)
You can produce a complete and viable business plan
You live or open the business in Ottawa (primarily), Eastern Ontario (with exceptions)
You have a business that creates or leads to full-time sustainable employment for the applicant
If you have claimed bankruptcy, it has been at least 5 years since your discharge
Loans may be approved for new business (less than one year) only, and may not be approved for growth capital for existing businesses
Network or multi-level marketing businesses are not eligible
For a partnership of two, the principal or general partner must meet the age criteria and both are subject to the CYBF application process
If the business is incorporated, the applicant must be a majority shareholder, having at least 51% of the voting shares, and be involved in the day-to-day management of the business

If the business is incorporated with more than two shareholders and no one person holds majority shares, the shareholders meeting the age criteria must collectively hold the majority of the voting shares and be involved in the day-to-day management of the business. All applicants are subject to the CYBF application.