Loans Program

Community Futures Helping Businesses Succeed

Community Futures provides loans for SME’s in the Northeast Region. Often the small business cannot access loans from the traditional banks due to corporate policies. Most banks will not provide a loan until the business has been operating for over a two year period. Community Futures can help these businesses with their loan requirements. When we facilitate a loan we also provide one on one mentorship to that business ensuring that the financial management of their business is being done properly. We will work with our client and their bookkeeper to ensure that all the files and paperwork are in order so that there are no surprises at year end.

Over $1,214,500 in loans were given to businesses in the Northeast for the fiscal year 2007/2008. These loans leveraged over 2 million dollars for this fiscal year. Seven new businesses were creating 33 new jobs. Five businesses were advanced loans to assist them in expansion, creating 20 new jobs.

Fairy Tale Beginning for The Glass Slipper

Community Futures really does make dreams come true. While other kids were reading or playing sports, Chelsea Foullard was planning weddings and dreaming of brides. Elegant church or whimsical beach, Chelsea imagined the weddings of not only her dreams but of others’ dreams as well.

On February 25 Chelsea, 22, saw her own Cinderella story unfold with the grand opening of her bridal boutique, The Glass Slipper.

Born and raised in Fort St. John, Chelsea had four years’ experience as a hairstylist when she came to Community Futures as a Loans client. She was well organized; she had a desire, a plan and some anecdotal market research. But she had very little retail experience and she knew she would need professional help to reach her goal.

“Community Futures helped me develop a business plan and a cash flow…Paul (DeCosta) put the numbers together and helped me research distributors. A bridal shop was my goal but I never thought I would do it.”

As one of only two bridal storeowners in Fort St. John, she loves that she can give brides-to-be a variety of options for their big day. The Glass Slipper – located on 100th Avenue beside Merwin Optical - specializes in wedding gowns, bridesmaid and prom dresses, ladies’ formal wear and accessories like shoes and bags. Clients can also have their hair done by one of The Glass Slippers’ hair stylists in the adjacent salon.

Chelsea says, “The challenge is in running the business…the responsibilities to employees, to clients’ requests…to meeting the needs of everyone.”

And meet the needs she does. Business has been steady since opening, as young girls begin their search for the perfect prom dress, and the hair salon provides additional stability during slower times.

The realities of business are far from storybook, and Community Futures is proud to help young, motivated entrepreneurs like Chelsea achieve their dreams. Well done!