Program Guidelines
The Community Development Corporation of Sault Ste. Marie & Area (CDC) and the Sault Ste. Marie Economic Development Corporation (SSMEDC) have partnered to offer a special loan fund to help stimulate economic activity in the Downtown Core, as defined by the City of Sault Ste. Marie’s Downtown Improvement Plan Area. The map below shows the eligible area.
Amount of Support:
- Maximum support of $100,000
- Repayable loan, with flexible payment terms
- A portion may be forgiven if the business maintains operations downtown and has achieved job creation/sustainment targets.
Eligible Businesses:
- Existing business, currently located downtown
- Existing business, relocating to the downtown
- New business, to be located downtown.
- Pop Up shop, to be located downtown (max support $20K).
Eligible Costs:
- Start up Costs
- Relocation Costs
- Inventory
- IT Upgrades
- Equipment
- Renovations
- Working Capital
For more information, contact 705-942-9001
Downtown Development Loan - Application