Apply for a loan

The Investment Co-op aims to direct new or pre-existing investment capital from local residents into local businesses with high community impact. We understand that new ventures are vital to a healthy local economy but can face difficulty securing financing to get off the ground or grow.

The Investment Co-op can provide short-term capital (1-5 years) to ventures looking to launch or expand and assist them in establishing a supportive customer base and a sustainable operation for their concept. The Investment Co-op will work in partnership with other local financing organizations. Unlike traditional loans based on business history and collateral, these investments are based on the experience and character of the owners, the strength of the business plan and the opportunity for economic, social and environmental and agricultural impact in Creston & District.

WHY Get a Loan from the Investment Co-op?

• A simple 2-page application form makes it easy to apply.

• We provide business development supports and referrals.

• Eligible businesses receive financing from the Investment Co-op. If we cannot finance the whole deal, we will advocate on your behalf to other local lending institutions. See the eligibility checklist in the Investment Application.

• We coordinate ongoing mentorship supports to ensure you have the tools you need.

• We have over 100 local investors who want to see your venture succeed, many of which will become ambassadors or customers at your business.

General Loan Information

• Eligible businesses will receive term loans ranging from $2000 to $100,000.

• Loans will range from 1 to 5 years and must be reviewed after two years.

• Interest rates start at prime plus 3.5%, locked in at the time of funding.

• Loans are repaid monthly, based on your personalized payment schedule.

• Flexible repayment terms can be negotiated on a case-by-case basis.

• Term loans are “open”, meaning you can make an additional payment at any time without penalty.

• The Investment Co-op will facilitate mentoring by appropriate directors, advisors or other specialists to help assure success in your venture.