Peer Lending Circles in your Community

**This is an old article that was originally posted in 2013 and may have outdated information**

Do you have a business idea you would like to put into ACTION?

Particapation: to owners of existing micro- or small businesses and new entrepreneurs.

Dollars: For each lending circle funding will be up to $5000.00.

Commitement: Micro-loan lasts 1 to 2 years in order to have a greater impact on participants’ credit score and to begin implementing positive business practices. 

Dollars Received: Funds will be distributed 1 to 2 months after entering the program. 

Expectations: Attend monthly circle meeting on how to improve business practizes and to manage the affairs of the lending circle, make regular loan payments. Failing to do so will result in a late fee and a negative impact on your credit score. 

Credit Improvement: Visions North reports participants’ payment history to the major credit bureaus every month. 

Outcome: Depends on the individual participant. At the end of the 1st cycle, you may decide to continue for a 2nd cycle so as to continue to strengthen your business skills and credit rating. 

Visions North Community Futures Development Corporation has a unique lending program for northern Saskatchewan micro-entreprenueurs that provides access to capital and business technical assistance service while establishing or improving credit history. Lending Circles are made up of entrepreneurs who need financial services and are willing to work together to make that happen. The Lending Circle program serves as the gateway to several benefits:

~Access to a lump sum of money up to $5000.00. 

~A way to establish or improve your credit ratings. 

~Peer group support. 

~Monthly business workshops and individual technical support.

~Access to larger loans for those that qualify.

Together with like-minded business owners, you decide what topics will be covered in group workshops. With your lender, you will develop a credit-building action plan and turn KNOWLEDGE into ACTION, learning hot to make real improvements in your credit rating. 

For more information or if you are interested please contact:

Community Futures Visions North

Telephone: 306-425-2612

Fax: 306-425-2205

Email: visionsnorth@visionsnorth.com

Office Address: 711 La Ronge Avenue, La Ronge