DELIA prioritizes investment in innovative Women-owned and women-led enterprises in rural Eastern Ontario as part of an inclusive and equity-based strategy for economic development and diversification. The objective of DELIA is to close existing service and access to capital gaps in Eastern Ontario to help to ensure under-represented women successfully can start, scale up and expand their innovative high-growth-potential ventures with dedicated financing and strategy services. It is expected that DELIA will have two cohorts by 2023 and will support a minimum of 30 businesses.

The Women Entrepreneurship Strategy (WES) of the Government of Canada is encoded in DELIA’s Fintech-driven lending model developed in partnership with CORL. Our loan automation and credit engine uses Artificial Intelligence, Machine Learning and Bank Level Security in order to streamline funding opportunities. Northumberland CFDC provides an easy, online application process and instant pre-approval decisions on commercial loan applications from $10,000 to $20,000 (with requests in increments of $5,000).

Successful loan recipients will be automatically inducted into a mandatory concurrent entrepreneurial and training program providing advisory and support services, networking opportunities, accelerator space, and skills development.

In delivering this initiative with the support of the Federal Economic Development Agency for Southern Ontario (FedDev Ontario) Northumberland CFDC is fully committed to diversity and inclusiveness. Women-owned and Women-led enterprises remain underrepresented in the Canadian economy, however, they experience faster growth relative to men-owned enterprises (Source: Statistics Canada). Now is the time to strive for the potential of equity in gender participation in economic advancement.

• Women-owned and/or Women-led
• Located in rural Eastern Ontario
• Innovation-driven

In addition to being on an innovation track, your business must qualify as operating in one of the following sectors identified by the Government of Canada:

• Advanced Manufacturing
• Agri-Food
• Health/Bio-sciences
• Clean Technology
• Digital Industries
• Resources of the Future (forestry, water, etc.)

You must be willing to commit to participate in mandatory concurrent entrepreneurial training and development (including in-person and virtual components).

Competitive applications will be received from startups or existing business with high growth potential.

Please have the following documents ready to upload:

• Passport or Driver’s License
• Business Bank Account online sign in information (username and password)
• Concurrent business performance metrics (e.g. sales, expenses, gross margin calculation)
• Business plan (a concise document outlining major planning assumptions)
• Articles of Incorporation/Business Registration

What happens if I am declined for a loan?
If you are not successful in your DELIA loan application, Northumberland CFDC will work to assist you in finding alternative lending solutions. This may include automatically referring you to your local CFDC to continue the conversation.

What if I need more than $20,000 or less than $10,000?
You can request a larger loan amount then $20,000 through DELIA, we encourage you to advise if this is required. If you require a smaller loan, there are additional CFDC lending solutions that may fit. We encourage you to reach out to us directly.

What is a CFDC?
A CFDC is a Community Futures Development Corporation. With the support of the Federal Economic Development Agency for Southern Ontario, CFDCs deliver the Community Futures (CF) Program, a community-driven, economic development initiative designed to assist communities in Canada’s rural areas to develop and implement strategies for dealing with a changing economic environment.

Community Futures organizations offer a wide variety of programs and services supporting community economic development and small business growth:

• • Strategic community planning and socio-economic development
  • Support for community-based projects
  • Business information and planning services
  • Access to capital for small- and medium-sized businesses and social enterprises.

These community-based, not-for-profit organizations are staffed by professionals and are each governed by local volunteer boards of directors familiar with their communities’ needs, concerns and future development priorities.

How do you define “Rural Eastern Ontario”?
Rural Eastern Ontario is defined by the Federal Economic Development Agency for Southern Ontario as the following Statistics Canada Census regions, and Census subdivisions:

Stormont Dundas & Glengarry, Prescott and Russell, Leeds and Grenville, Lanark, Frontenac, Lennox and Addington, Hastings, Prince Edward, Northumberland, Peterborough, Kawartha Lakes, Haliburton, and Renfrew; as well as the following Census subdivisions: Durham: Brock, and York: East Gwillimbury, Georgina, and Chippewas of Georgina Island First Nation.

To view this on a map Click Here

How do I find my local CFDC?
You can locate your local CFDC here: https://www.cfontario.ca/index.php/find-a-local-cfdc.

What do you mean by “innovation”?
The CFDCs of Eastern Ontario have defined “innovation” as follows:

Innovation generates value through the successful creation and commercialization of a new product or service, the application of a new process, the adoption of new technologies, models, structures or methodologies, access to new markets, or implementation of new ways to collaborate and communicate. It is focused on making businesses, organizations and communities more adaptive, effective, profitable, and sustainable by creating new wealth, new jobs and contributing to economic advancement and the industries of the future.

What if I don’t want to participate in entrepreneurial development?
Participation in entrepreneurial training events (growclass and SingularityU Canada) is mandatory for the first 30 DELIA loan recipients. These sessions at this point are virtual due to the current business environment to allow for seamless participation. Mentoring and Technical training is optional based on your business needs. Please contact us with your concerns and specific expectations and we will evaluate potential solutions. Please email us at  delia@northumberlandcfdc.ca or call us toll free during regular business hours (8:00am to 4:00pm EST) at 1-866-670-1191.

What is the source of funds for DELIA?
NBDA Corp (Northumberland CFDC) has capitalized the DELIA loan portfolio. The initiative is delivered by Northumberland CFDC with the funding and support of the Government of Canada through the Women Entrepreneurship Strategy (WES).

Who is Corl?
Corl is a Canadian fintech company based in Toronto and Montreal. CEO Derek Manuge was named to the Top 25 innovative lender list by the Canadian Lending Association. Corl provides the credit engine that makes rapid online decisions possible. For more information, please visit their official website: https://corl.io/.

What if I haven’t registered my business?
Let’s discuss further. Please send us an email with your eligibility questions: delia@northumberlandcfdc.ca or call us toll free during regular business hours (8:00am to 4:00pm EST) at 1-866-670-1191.

What about the confidentiality of my application?
Please review our Privacy Policy and Terms of Use. Information is collected for the limited purpose of assessing your application to DELIA. If you authorize us to refer your application, we may share basic applicant information with our trusted network of lenders, such as Eastern Ontario CFDCs and the Business Development Bank of Canada.

How is the DELIA decision made?
DELIA decisions are made based on a proprietary credit model that analyzes multiple dimensions and variables and taking into account the Government of Canada’s Women Entrepreneurship Strategy priorities.

Will a DELIA application affect my credit score?
Pre-screening does not affect your credit score. Completing the full credit application will result in a credit enquiry. For more information about how loan applications affect your credit, read this helpful article from Equifax (click here).