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Tillsonburg BIA Loan Program

Monday, 27 April 2020 16:22

The Tillsonburg BIA has implemented a loan program for members to help them pay for rent.

TILLSONBURG - The Tillsonburg BIA has implemented a loan program for members. 

This program is a last-resort for those BIA members who have exhausted all other means of financial support before applying for this program. The intent is to assist in payment of your monthly rent.

The loan program design is as follows:

- Maximum of $2,500 per BIA member, per business, per address;

- No payments until January of 2021;

- This is a fully repayable loan at 0% interest;

- The loan is to be repaid at a maximum term of 12 months. Post-dated cheques for 12 equal payments must be submitted to “Tillsonburg BIA” and delivered to the BIA offices at 20 Oxford Street, Tillsonburg, ON N4G 2G1;

- These monies are to be used to assist with payment of your base lease/rental costs;

- Payment will be made directly to the landlord from the BIA bookkeeper;

- All applications are subject to review & approval of the BIA Treasurer & Finance sub-committee;

- The total available funds for this program are $62,000 (of which, this has been approved by the BIA Board of Management and the Council of the Town of Tillsonburg);

This application must be completed for each month that you require financial assistance and it is available for May.

You can find more information online here. 

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