Start up financing is not easy to arrange, especially for a first-time entrepreneur coming from a non-privileged background, without experience or collateral.
Community First's role is to help overcome this barrier. We help to "even the playing field" by providing access to resources that otherwise would be unavailable. Resources that a lot of us take for granted. Resources that create income and jobs, and a stronger community.
Here are a few of our success stories:
"with the loan obtained through Community First, I was able to expand my retail market"
Tyler Hovdebo started out his entrepreneurial career selling fish door to door; supplying hotels and restaurants. Although this worked out well for him, this method of distribution was limiting his potential for growth. What he wanted to do was become a retailer and distributor, rather than someone who fetches and carries. Community First financing helped him to realize his ambition. "Now, instead of me going to my customers, they come to me".
Broadway Fish Market
835C Broadway
"they are there to help the little guy get a foot in the door"
Pearl Barker is the force behind Pearl's Pet Haven, a pet grooming and kenneling business in Pleasant Hill. After taking advantage of a business readiness program offered by Social Services, Pearl took training for dog grooming. She then helped another woman start a grooming business, which Pearl ran for three years. Eventually Pearl realized she needed to get out on her own. Without collateral she was denied conventional financing, but the bank did suggest she approach Community First. Not only did Community First help get the ball rolling, we also provided continuous mentoring along the way.
Pearl's Pet Haven
432 Ave R South
955-5335
"where every dog has its day"
"...allowed me to purchase inventory and do a bit of marketing, so that was great""
Candice Zimmerman, after working 15 years in the industry, found her love of styling hair was in conflict with her awareness of the toxins she and her clients were exposed to. And she realized that providing an alternative was a huge business opportunity.
She took an intensive course in business training and opened her own business. Financing from Community First provided 15% of her start up costs which she used towards acquiring her inventory of non-toxic products.
Sunday Morning Organic Salon & Spa
113-120 Sonnenschein
Saskatoon Farmer's Market
"this is what a community is all about"
Efren Pereira Jr. discovered his affinity for sound recording at an early age. He was 13 years old when his father brought home a newly purchased "hi-fi" system. By the time his dad had returned from work that day, Efren had assembled the set and got it going. Not long afterwards, he had taught himself how to overlay sounds on the reel to reel tape machine.
After studying sound engineering in Montreal, Efren returned to Saskatoon where he conceived his bold idea of starting the first solar powered recording studio in the country. Determined to bring his dream to fruition, he completed the Entrepreneur Business Plan Writing from Praxis International in 2008, becoming a finalist in the Venture Forward National Business Plan Competition.
For financing, his initiative led him to Saskatoon's network of community support. And Community First was there for him.
Starlab Recording Studio
Canada's First Solar-Powered Professional Recording Studio