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| Sand Plains Community Development Fund |
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| Sand Plains Community Development Fund (SPCDF) is an application-based program to assist rural communities in the tobacco-growing region of the Sand Plains region (counties of Brant, Elgin, Middlesex, Norfolk and Oxford) to transition to a non-tobacco based economy. Support will be targeted to community-based initiatives which support regional development, attract and retain people and investment, and stimulate business development and job creation.The Fund has two separate components: Community Development Support and Access to Capital. |
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| Community Development Support (CDS) Component |
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| The Community Development Support component provides non-repayable contributions to not-for-profit projects designed to explore and develop new and sustainable community and regional development opportunities. The goal is to enhance regional capacity to generate and support diverse economic development activities in order to achieve a sustainable, prosperous and diverse economy driven by innovation. |
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| Eligible recipients under the CDS component include: |
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| - Community organizations;
- Not-for-Profit organizations;
- Co-operatives;
- Social service institutions; and
- Municipalities.
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| Access to Capital (AC) Component |
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| The goal of this component is to foster entrepreneurship in the region by increasing the availability of patient capital for small business start-ups and expansions in priority sectors. Patient capital provides flexible repayment terms negotiated to encourage the long-term viability of the borrower, amortized over 5 to 10 years at an interest rate return at or below conventional lending rates. |
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| Eligible applicants under the AC component include: |
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| - Community organizations;
- Not-for-profit organizations;
- Co-operatives;
- Social service institutions;
- Business organizations;
- Municipalities; and
- Private enterprise.
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