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CFDCs are non-profit entities, governed by local volunteer boards comprised of directors representing a broad base of interests. These boards follow the philosophy that local decision-making and local development are the most effective means for people to shape their future, and that building entrepreneurial capacity is one of the keys to thriving, healthy communities. This bottom-up approach ensures that challenges are met by local solutions, by active, responsive communities. Western Economic Diversification Canada supports this process, and provides the funding for CFDCs to foster it. Entrepreneurs who cannot get financing from traditional lending institutions may access capital on friendly and flexible terms from their local CFDC. They can also receive a wide range of business support services. CFDC success is founded on a unique approach to lending that focuses on loan after-care, mentoring, and sound business advice. The Community Futures Program supports community economic development by helping communities develop and diversify through: Strategic Community Planning Business Services Access to Capital |
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