SERVICES

Overview

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    Nickel Basin is very receptive to working with new and start up businesses which typically struggle to obtain financing from conventional lenders. Nickel Basin is dedicated to providing a comprehensive financing solution and will direct prospective borrowers to other financing avenues such as Futurpreneur or NOHFC or financial institutions if their programs are better suited to meeting the needs of existing businesses or those starting a new venture.

  • We can currently extend financing using three different financial instruments:

    • Commercial term loans – Our most common form of financing, repayment terms of 5 to 18 years depending on project
    • Revolving credit facility – This is an operating facility used for inventory purchases and account receivable financing
    • Equity financing – Nickel Basin injects capital in return for preferred shares of the company. This form of financing is only considered in very specific circumstances, and is rarely used for start-ups

    These loans are repayable on agreed terms and are not grants or forgivable loans. Like all other lenders financial information is required, however security requirements are very flexible.

Program Criteria

To qualify for potential assistance from Nickel Basin, you must meet the following criteria:

  • Employment creation and/or maintenance of existing jobs
  • The business must be located within our geographical jurisdiction. If you choose to move your business outside our jurisdiction after financing has been extended, you may be required to pay out your loan
  • Reasonable personal financial investment (the minimum investment required is 10%, and may be higher, based on the amount of intangible costs related to your project)
  • Acceptable credit records for the business and principals
  • Real or perceived future economic viability of the business, with the ability to repay the Nickel Basin loan, other loans, and maintain its operational commitments current
  • Competent management and/or management team to successfully manage the business
  • Appropriate security for the venture

  • Other Services

    Other technical and consultative referrals delivered through Nickel Basin, or in tandem with the City of Greater Sudbury’s Regional Business Centre  include:

    • Market and feasibility studies
    • Administrative evaluations
    • Assistance in obtaining other forms of funding
    • Assistance in the development of business proposals
    • Assistance in the preparation of business plans
    • Information on government programs

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