Business Loan Application

Community Futures of Fraser Fort George provides business loans up to $150,000

to assist entrepreneurs to develop, diversify and expand economic activity in our region.

Loans are available to assist new business start-ups; to assist businesses expand or stabilize; or to assist
individuals buying a business. As a developmental lender, Community Futures approves financing
locally, considering each venture on its own merits, and may provide additional consideration for businesses
that diversify and benefit the local or regional economy.

What is Community Futures?

Community Futures of Fraser Fort George is proud to be an independent and locally run not-for-profit
assisting entrepreneurs with self-employment and business development for over 35 years. Community
Futures‟ approach to business development and financing promotes a diligent business planning process,
enabling individuals to develop their business proposal to demonstrate its viability, as well as better
position the venture for success.

Elements for Community Futures Business Loans

 Business and owners reside within Regional District of Fraser Fort George
 Business must be suitable for public funding
 Market potential and economic viability of the business
 Owners/principals experience, qualifications and commitment
 Competent management
 Local job creation or preservation
 Credit worthiness of applicants
 Reasonable personal financial investment
 Suitable security for loan amount
 Demonstrated capacity to service debt commitments

Community Futures Loan Features

 Term loans up to $150,000  Flexible repayment schedules
 Loan repayment timelines up to 5 years  Reduced payments at loan / business start up
 Ongoing business coaching and support

Community Futures Assistance

Community Futures can assist you with various business resources and tools, and our staff can guide
and coach you about researching, planning and operating your business.
 Business Start-up Information  Financial Forecasting Worksheets
 Loan Application Package  Business Workshops, Training
 Business Planning Workbook  One-on-one Business Guidance, Coaching

For inquiries or assistance about Community Futures’ business financing, call us at 250-562-9622.

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 Business Loan Application

Sustainability
Expansion
Purchase
Start-up
LOAN APPLICATION & SUPPORTING INFORMATION REQUIRED

BUSINESS LOAN APPLICATION    

1. Business Summary
2. Financing: Loan Request 
3a. Personal Information Summary (for each of the principals of the business)
3b. Personal Assets & Liabilities Summary (for each of the principals)
4. Disclosure Agreement & Authorization (to be signed by each principal)
 Appendix 1: Personal Skills Resume ( required for each of the principals)
 Appendix 2: Financial Forecasts: Sales, Cash Flow, Opening Balance Sheet (Min 12 months)
 Appendix 3: Existing Business Financial Summary
 Appendix 4: Personal / Local / Regional Benefits 

EXISTING BUSINESSES / BUSINESS PURCHASE   

 Year-end Financial Statements for prior 3 years, or Personal Tax Returns if Sole Proprietorship
 Year-to-date interim financial reports, current within 3 months
 Taxes: Copy of latest GST, PST, Payroll Deductions remittances
 Up to date lists of aged Accounts Receivable & Accounts Payable
 Business Tax Returns for the previous 3 years
 Business Purchase: List & Cost of Assets being purchased. Independent Appraisal of Assets.
Business Valuation / Purchase Agreement / Price if determined
BUSINESS PLAN    
 Business Plan
 Project / Expansion Plan demonstrating the project, and the benefits and affordability to the business
 Sustainability Plan demonstrating how business operations and profitability will be improved
USUAL SUPPORTING DOCUMENTATION    
Evidence of Owner-Principals capital investment and equity into the business
 Price quotes, invoices, re proposed expenditures, equipment purchases, insurances, etc.
 Business purchase: Independent appraisal of assets; Independent business valuation / opinion
 Market / demand information to support financial forecasts
 Letters of intent, purchase offers / contracts / rights to use, etc
 Personal Tax returns for prior 3 years
 Environmental Risk Assessment (business use of / or purchasing real property )
Keep a copy of all your application information, as we retain all materials submitted to us.
Business lending takes time, depending first on our receiving a completed Business Loan Application, with Financial Forecasts and
sufficient Business Plan information for us to fully consider your proposal.
Community Futures conducts an initial review of your venture, credit and loan request, to determine the likelihood of successful
financing. Changes to a proposal may be suggested / required, and/or further information requested.
Assuming a loan is approved, time is needed for our lawyer to prepare legal documents, and for representatives of your business to meet
various loan conditions, arrange security and sign loan documents.

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 Business Loan Application

1. BUSINESS BASICS SUMMARY

Business Name: Viking Training Academy Inc.

New Business Start-Up Anticipated start date: 01.02.2024

Existing Business: Years operating under current owners Purchase Expansion Maintain Franchise

Legal Form: Sole Proprietorship Partnership Incorporated Other:

Industry you are operating in: Sports & Recreation (Fitness Studio)

Employment: # Jobs Created Full-time:2 Part-time: 1 Seasonal: Contract:

# Jobs Retained Full-time: Part-time: Seasonal: Contract:

Operating: Is the business year-round Full-time Part-time Seasonal

Owners, Principals % Owner Title/Position

Abdelsalam Kanaan 51 Head Coach

Jamil Kanaan 49 Marketing Manager

Each of the business Owners/Principals must complete: Personal Summary / Assets & Liabilities, Disclosure, Personal Resume

Business Address & Contact Information

Home Based Store, Office Commercial, Industrial Mobile Internet
Address: 1821 1ST AVENUE PG City Central, British Columbia V2L2Y8 Own Lease Term 5 years

Mail Address: 632 Pilot St, Prince George, BC Postal Code: V2M 5J1

Phone: +16472928870 Cell: Home:

E-mail: abed@vikingacademy.ca Web: www. vikingacademy.ca Fax:

Business Description Describe the business and products and services.

Type: Services Retail Wholesale Producer Tech Tourism, Hospitality Forestry Transportation
Area: Neighborhood City, Local Regional Provincial National Other:

Viking Training Academy is a fitness bootcamp startup that aims to provide captivating and community-oriented workout
experiences. As a novel concept in the industry, VTA plans to set itself apart by specializing in unique training styles
such as steel mace flows, Persian meel, Steelclub, and Indian Jori/Mudgar training, among others. The company has
been officially registered and incorporated by its founders Abed, and Jamil, who bring a wealth of expertise in coaching,
operations, and fitness.

Have you determined your products and pricing? Yes

Sales: What do you estimate your total yearly sales will be? Yr $ 183,780.00

Cost of Goods: Have you determined your suppliers and COGS purchases? Yr $ 163,752.00

Gross Margin: What are typical margins (%) in your industry? Yr $ 179,306.00

Have you determined sales levels required to pay all monthly operating expenses? Mo $ 14,188.00

Earnings: What do you anticipate your yearly profit / owner income will be? Yr $ 30,000.00

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 Business Loan Application

Market & Customers: Describe the market for your business. Who is the target customer?

Our Viking Training Academy fitness bootcamp will primarily target the younger generation in our community who are
enthusiastic about fitness and aspire to lead healthy lifestyles. Our focus will be on high school and college students
who are looking to transform their fitness levels through challenging full-body workouts.Instead of engaging in
substance abuse or other harmful behaviors, our aim is to inspire the youth in our community to channel their energy
into athletic training. We want to provide them with a purposeful and driven environment that fosters personal growth.To
attract these young fitness enthusiasts, we will establish partnerships with local schools and university athletic
departments to promote our bootcamp. Additionally, we will leverage popular social media platforms such as TikTok
and Instagram to tailor our messaging and branding to resonate with the younger demographic.By offering an intense a

Rationale: What is the need for this business? Why does it matter? How have you established demand for your venture?

The health and fitness industry is expected to continue growing at a rate of 3-4% annually. This growth is fueled by
increased interest in living healthier lifestyles. However, many people struggle with motivation and accountability when
trying to reach their fitness goals.Based on our experience running successful bootcamps overseas, and from others
such as Valhalla Training Academy (UK), Onnit Academy (USA), we recognize that small communities have a greater
need for our services than large cities which already have ample fitness options. Small towns often lack affordable
access to quality training programs that can provide the accountability and camaraderie needed to stay motivated over
the long run.By launching our bootcamp concept locally, we will validate that smaller communities respond well.

Competition: Who else is already solving this problem / products / services? Describe your competitors or substitutes.

In addition to F45 and Barry's Bootcamp, there are several other fitness bootcamps that can be considered as
non-direct competitors to Viking Training Academy. These include popular establishments such as OrangeTheory
Fitness, CrossFit, and SoulCycle. Each of these bootcamps offer unique training programs and fitness experiences,
catering to different demographics and preferences.OrangeTheory Fitness, for example, combines cardiovascular
exercise with strength training in a high-intensity interval format. Their workouts are designed to maximize calorie burn
and increase overall fitness levels. CrossFit, on the other hand, focuses on functional movements performed at high
intensity. It incorporates elements of weightlifting, gymnastics, and cardio exercises to improve strength, endurance,
and flexibility.SoulCycle, a cycling-focused fitness studio, offers a different kind of workout experience. Participants
pedal to the rhythm of high-energy music in a candlelit room, creating a motivating and immersive atmosphere. Their
classes not only provide a challenging cardio workout, but also aim to uplift and inspire riders.

Your Business / Competitive Advantage: How is your business different and / or better than your competition?
Advantages that your customers value. ex. products, services, price, expertise, location, promotion, etc.

As a new fitness bootcamp, our competitive advantage lies in our unique Viking-themed approach. By incorporating
elements of medieval Viking culture into intensive outdoor training, we stand out from traditional gym
experiences.Specifically, we use Viking music, attire, and team names to motivate clients. This theme helps spark
camaraderie and pride. Our trainers also integrate battle cries, Viking-style equipment like sledgehammers, and "warrior
training tactics" for full immersion.Additionally, our outdoor hill sprints, battle rope courses, and "dragon boat" team
relays allow clients to connect with nature. Competing gyms lack comparable experiences tailored to adventure seekers
desiring fresh air as part of the workout.

Facilities & Technical: What is needed and how do you get your product to your customer.
Our plans for the Viking Training Academy include securing a prime location on 1st Avenue that offers excellent visibility
and ample parking for our customers. We are committed to providing a unique and creative fitness experience, and our
facility will be divided into three distinct areas to cater to the varied fitness needs of our clients:The weights zone
Specialized zone, Machine zone.

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 Business Loan Application

Market / Trends: What are conditions and trends in your market? Ex. growing, flat, declining?

The fitness industry has been growing steadily over the past decade. Health and wellness trends have driven more
people to seek out options for exercising and living active lifestyles. Bootcamp style group fitness classes have become
especially popular, with a projected 5.2% annual growth rate through 2025.Our target geographic area in the Western
United States and Canada, specifically around Prince George, British Columbia, provides a strong market for bootcamp
style classes. The region has seen growth in health consciousness, but currently lacks sufficient fitness bootcamp
options to meet demand. This presents an opportunity to launch our Viking Training Academy bootcamp to fill that
need.Key factors driving opportunity in our target market include:Increasing millennial and Gen Z population l

Key Persons Who will oversee the business and handle critical tasks ?
Abed "Ragnar" Kanaan - Head Coach
ania "Misha" Yatskova - Coach and Trainer.
Jimmy "The Tulip" Kanaan - Marketing Director.

Legal, Licences, Rights to Use

Is the business name registered? Yes No Business Registration #: 773145750BC0001

If a Corporation, where incorporated : British Columbia Incorporation #: BC1453167

Have you registered for GST/PST? Yes No GST/PST/Business #:

Do products or processes meet all legal requirements / safety / liability standards for sale in Canada?
Yes
Are licenses, agreements, fees needed? ( Ex. franchise, trade name, patent, facilities?)
No
What government licenses, permits and approvals are required?
Normal business permit
What industry standards, certification or approvals are required?
None

Owned Affiliate or Subsidiary Businesses Name Industry Location

Services & Support Company Contact Phone

Banking Royal Bank of Canada Roberto Ferreira da Silva Junior (250) 960-4930

Lawyer ownr.ca
Accountant Quickbooks
Bookkeeper Quickbooks
Other, Mentors

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 Business Loan Application

2. LOAN REQUEST $ 100,000.00 Term / Months 60 Needed

Loan Purpose: New Start-up Existing Business: Expansion Purchase, transition Stabilize

List costs / expenditures for your project, and all sources of funds including your personal investment and other lenders.

USES OF FUNDS SOURCES OF FUNDS

Purchase Business / Franchise $ Capital: Owners, Principals (A) $ 620.00

Land, Building $ Shareholders, Investors (A) $

Plant, Equipment $ 38,304.00 Loans: Community Futures $ 85,000.00

Vehicles, rolling stock $ Bank, Credit Union $

Furnishings, Fixtures $ BDC $

Leaseholds, Renovations $ Other: $

Inventory, Materials $ 29,047.00 Other: Sale of Assets $

Working Capital $ Gov‟t Programs (SR&ED, etc) $ 2,400.00

Refinance debt, payables $ Working Capital, Earnings $

Other: $ 20,669.00 Other: $

Total Project Expenditures $ 88,020.00 = Total Funds Sources $ 88,020.00

Non-Cash Assets Contributed by Owner, Principals Current Value - Amount Owed = Equity (B)

Land, Building, Plant $ $ $ 0.00

Equipment, Tools $ 10,000.00 $ $ 10,000.00

Vehicles $ $ $ 0.00

Other: $ $ $ 0.00

Total Assets Contributed by Owners, Principals $ 10,000.00 $ 0.00 $ 10,000.00

Total Owner Equity Contributed: Capital + Assets (A + B) $ 10,620.00

Loan Security Available Current Value - Amount Owed = Equity

$ $ $ 0.00

$ $ $ 0.00

$ $ $ 0.00

Have you applied for financing elsewhere? Yes No Results?

Are you a prior client of Community Futures; or How referred? no

Are you related to any Director or Employee of Community Futures of Fraser Fort George? Yes No

Enclosures with Application: Sales & Cash Flow Forecasts Business Plan Other:

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 Business Loan Application

3a. PERSONAL SUMMARY ( required for each owner / principal, spouse, guarantor )

Last Name: kanaan First: jamil Middle:

Birth Date: Y/M/D: 1990/11/27 Birth Place: amman/jordan Cdn Citizen? yes
Other name(s) used: SIN #: 289721367 DrLic. #: 4889503
Home  +17786752030 Work  Cell 
Email: jimmy@vikingacademy.ca Other: jamil.kanaan1@gmail.com
Address: 105 Kelly St, Prince George, BC Postal: V2M 3J9
Own Free & Clear Buying Rent Other: Time: Oct 2022
Prior Address: 632 Pilot St. Prince George, BC Time: 2021
Prior Address: Time:
Employment History: (4 yrs) Name, Address Occupation, Income Dates Reason Ended
1) Coca Cola Canada Bottling, 405 2 Ave, Prince George, Sales
BC V2L 2Z6
Development ManagerOct 2021- Present
2) Bayzat, Dubai, UAE Commercial Sales Manager
Dec 2020Taking
- Oct 2021
the position with Coke Cana
3) Geeks Technology, Dubai UAE July 2018 – July
Business Development Manager Taking
2020 position with Bayzat
4)
Marital Status: Single Married Common Law Separated Divorced Widowed # Dependants:

Spousal or Partner Information (required)

Last Name: First: Middle:
Birth Date: Y/M/D: Birth Place: Cdn Citizen?
Other name(s) used: SIN #: DrLic. #:
Employment History ( 4 yrs) Occupation, Income Dates Reason Ended
1)
2)
3)

Personal & Business References

Emergency Contact:
Closest Family Member not Living with You: Abed Kanaan Relationship: Brother

Address: 632 Pilot st.Prince George, BC, V2M 5J1  +16472928870

Name: ammar kanaan Relationship: father

Address: 1501 - 16 Yonge st. Toronto, ON, M5E 2A1  +1 (437) 235-2169
Name: Relationship:

Firm / Address: 
Name: Relationship:
Firm / Address: :

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 Business Loan Application

3b. PERSONAL ASSETS & LIABILITIES SUMMARY.

Include all personal assets and liabilities for yourself and for spouse / partner if married or common-law

Real Estate Owned Address, Description Current Value Mortgage(s) Monthly Pymt

Residence $ $ $

$ $ $

$ $ $

Assets (description) Present Value Liabilities, Finance Owed Monthly Pymt

Cash: (chequing / savings) $ 2,000.00 Term Loan(s) $ $

Stocks, Bonds, Mutual Funds $ Line(s) of Credit $ $

RRSP‟s, Pension $ Bank Credit Cards $ $

Real Estate (current value from above) $ 0.00 Mortgages (above) $ 0.00 $ 0.00

Vehicle 1: Nissan Sentra $ 25,000.00 Loan, Lease $ 40,254.00 $ 734.00

Vehicle 2: $ Loan, Lease $ $

Other: $ Retailer Credit Cards $ 500.00 $ 20.00

Other: $ Guarantor / Guarantee $ $

Other: $ Family Maintenance $ $

Business Equity, Retained Earnings $ Taxes Payable $ $

TOTAL A $ 27,000.00 TOTAL B $ 40,754.00 $ 754.00

NET WORTH ( Total A – B ) $ (13,754.00)

Other Liabilities: ex. taxes, family support, alimony, co-signed debts, guarantees ,leases Balance owing Monthly Pymt

$ 0.00 $ 0.00

$ $

$ $

Monthly Family Income (including spouse) Monthly Family Expenditures (including spouse)
Income Drawn from the Business $ Rent / Mortgage Payments $ 1,100.00

Employment Income $ 3,800.00 Finance Payments (from above) $ 754.00

Spouse‟s Employment Income $ Food and Clothing $ 800.00

Rental Income $ Utilities, Phone, Internet, Cable $ 200.00

Pensions/Annuities $ Transportation $

Investments Income $ Medical & Insurances $

Family / Support Payments $ Education / Child Care $

Other: $ Other: $

Total Income $ 3,800.00 Total Expenditures $ 2,854.00

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 Business Loan Application

Credit History (provide details)

Have you had assets repossessed or foreclosed? Yes No

Have you made a debt proposal through a credit counselor, trustee, or government; or applied for bankruptcy? Yes No

Are you or any closely related individual or firm involved in ANY legal action or litigation, personal or business? Yes No

Status
Do you have a current Business Plan or Expansion / Project plan as appropriate? Yes No

Do you have a Monthly Sales Forecast & Cash Flow Forecast for at least 1 year? Yes No

Existing Business / Purchase: Do you have the prior 3 Year-end Financial Statements, and year to date results? Yes No

Describe any health issues that may affect your time or ability to operate a business none

Describe any family issues that may affect your time or ability operate a business none

4. DISCLOSURE AGREEMENT & AUTHORIZATION

The information and statements herein are for the purpose of obtaining and/or maintaining financing from Community Futures
Development Corporation of Fraser Fort George (“CFFFG”), and are true, full, and correct as of the date below.
I/we understand that additional information if required by CFFFG in support of this application, must be supplied to the CFFFG
before full consideration may be given to this financing application.
__________________________________________________

Consent to Obtain / Release Information: I/we hereby consent to the CFFFG making any inquiries including credit agency reports,
and exchanging financial or other information with other financial institutions, or financial partners agencies or credit grantors; and
personal, business and corporate information from/to such persons, firms, corporations, government authorities, institutions or agencies
as it deems necessary in order to reach a decision on any business proposal and financing application under consideration, or any future
applications for financing, and to administer an eventual loan, if such is the case.
I/we agree providing our social insurance number (“SIN”) to CFFFG as confirmation of identity and authorize CFFFG to use and reveal
the SIN to others as a means of identity and obtaining credit reports. These consents shall remain in force until all amounts owing to
CFFFG are repaid.
Costs Incurred: The Applicant agrees to reimburse CFFFG for any costs incurred in processing and/or registration of documents for
loan security. Should the applicant withdraw from a loan request, or the proposed financing not complete for any reason, the applicant
shall be responsible for paying all costs incurred, including credit and registry searches and appraisals conducted to assess the
application. Whether or not financing is approved, all application documents, agency reports and other information obtained by CFFFG
in connection with this application are the property of CFFFG.
Acknowledgement & Release: I/we acknowledge that CFFFG has advised me/us to conduct my/our own investigations into all
matters pertaining to my/our business proposal; and that any information and advice provided to me by CFFFG, its employees,
volunteers, directors, and representatives is given without warranty or representation; and I/we release CFFFG, its employees,
volunteers, directors, and representatives from any and all liability or responsibility should I/we choose to rely on information
provided to me/us by or on behalf of CFFFG; and I/we waive any and all claims against CFFFG for any loss, damage, expense or
cost that I may suffer or incur in my proposed business venture, due to any cause whatsoever.

I/we warrant that we have read and understand this agreement, and I/we sign on behalf of my/ourselves and any
proprietorship, firm, partnership, or corporation I/we represent.

__________________,2024__
26/01 _________________________________
_________________________________ ______________________________
Date Applicant signature Spouse signature Guarantor signature

Viking Training Academy Inc.

Corporation: ____________________________________________________________ __________________________________ by its Authorized signatory

Community Futures Development Corporation of Fraser Fort George 1566 7 Ave. Prince George, BC. V2L 3P4 4.7.11

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 Business Loan Application

Appendix 1: PERSONAL SKILLS RESUME

Applicant Education High School College Technical University Other:

Diploma‟s, degrees, or certifications attained: Bachelor of Commerce/Hotel Management Diploma

Ryerson University/George Brown College

Industry Experience, Qualifications, and Currency Describe your experience as related to your business plan.
Highly organized and results-driven Sales and Marketing Manager with over 12 years of education and professional
experience in both Canada and the UAE. Proven initiative-taker and ambitious bilingual professional with a successful
track record in the technology and Food & Beverage sectors, specializing in both B2C and B2B Sales & Marketing.
Demonstrates effective collaboration within teams and a strong commitment to personal development as a team
leader.

Versatile and results-driven marketing professional with a proven track record in digital marketing, video production,
editing, and a deep understanding of technology. Adept at crafting and executing innovative marketing strategies to
drive brand awareness, engagement, and revenue growth. Passionate about staying at the forefront of digital trends
and leveraging cutting-edge technologies to deliver impactful campaigns. Proven ability to collaborate across
cross-functional teams and deliver high-quality content that resonates with target audiences.

Business Qualifications & Experience

Describe your previous business, management, and supervisory experience. Include references to key business functions such as:
marketing / sales; finance / accounting; management / supervisory, and operations / administration.

10+ years of progressive experience in Sales and Marketing

High proficiency in Ms. Excel.

Signed the largest contract for Geeks. Signed the first

Global Bank. Increased cold call conversion by 20%.
Increased calls to meeting ratio by implementing a
new process. Developed and enhanced the entire
Sales Cycle on Salesforce.com

Generating new F&B leads and providing consulting to

new restaurant projects from idea conception to full
project execution.
Acquired consulting contracts for 2 restaurant
concepts worth AED 800,000 in a span of 5 months.
Oversaw and managed the entire opening of
restaurants in areas that include Business Bay and
Hessa Street.
Liaising and
Training negotiating with Describe
& Development: various F&B
your suppliers
plans for further skills development related to your business
and contractors on behalf of clients.
Analyzed and evaluated financial data of various F&B
Seeking
operationsadditional training
and provided opportunities
solutions to further enhance my expertise in both fitness wellness and
that targeted
accounting/finance. Committedgrowth
inefficiencies while influencing to continuous learning to stay updated with the latest industry trends and
and future
advancements
opportunities. in these critical domains.

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 Business Loan Application

Appendix 2: FINANCIAL FORECASTS: Worksheets / Guide provided separately to Loan Application

Appendix 3: EXISTING BUSINESS AND / OR BUSINESS PURCHASE

Trend: Are Sales growing, level, or shrinking? Why?

Are Profits growing, level, or shrinking? Why?

Business Purchase: What is being bought? Shares or Assets?

What is the owner‟s reason for selling?

Has an independent appraisal value of the assets been obtained? (details, $)

Has a professional valuation / opinion of the business been obtained? (details, $)

If a price is already agreed to, how arrived at?

Financial Results Summary

Year Ending 20___ 20___ 20___ 20___
Sales $ $ $ $

Gross Profit $ $ $ $

Net Profit After Tax $ $ $ $

Depreciation/Amortization $ $ $ $

Interest Expense $ $ $ $

Current Assets $ $ $ $

Total Assets $ $ $ $

Current Liabilities $ $ $ $

Total Liabilities $ $ $ $

Business Net Worth $ $ $ $

Insurance Coverages: Type Amount Insurer, Contact Phone

$

Contingent Liabilities Provide detailed information if you answer Yes to any of the following questions:
Is the business supporting obligations not listed on its balance sheet as a co-signer or guarantor? Yes No
Is the business or principal(s) involved in ANY legal action or litigation? Yes No
Has the business or principals ever sought legal protection from its Creditors
– i.e. bankruptcy; receivership; receiver/manager, debt counselor payment ? Yes No

Does the business owe any taxes or government remittances for prior years
– i.e. sales, income, realty, municipal, WCB, GST / PST ? Yes No

Are payroll taxes current? Yes No

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 Business Loan Application

Appendix 4: PERSONAL / LOCAL / REGIONAL BENEFITS (optional)

Personal: (optional)
Community Futures may have awareness or access from time to time of other available services or resources to assist
eligible individuals of certain demographics.
Are you considered to be "Youth," ages 18-32?
Do you consider yourself to be a person with a disability? Nature?

Are you Indigenous?

Do you consider yourself to be a member of a visible minority?

Local / Regional Benefits and Economic Development:

Community Futures may provide additional consideration for businesses that diversify / benefit the local / regional
economy. Businesses that essentially merely compete with existing businesses that already offer similar products or services
in the region, should demonstrate a need and how they are adding value to the local economy.

Where applicable, describe how your business venture:

Develops a new or Unique style of fitness training

different sector that is not
available in the region

Not too many fitness studios available in that sector

Adds value to an existing
economic sector

Meets a demand for Demand for something beyond traditional fitness training
ongoing market growth

Fills a gap / niche re Health and nutrition that improve quality of life
services / amenities; that
improve quality of life

Environmentally No machines, low carbon footprint

sustainable products,
services, practices, etc

providing a sense of community and belonging

Other Benefits:

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 Business Loan Application

GUIDE: FINANCIAL FORECASTING WORKSHEETS: Sales Forecast, Cash Flow Projection, Balance Sheet

Funders expect financial forecasts presented as spreadsheets, prepared in generally accepted business format.
Community Futures financial worksheets are available for hand-written copy, or formatted in Microsoft Excel.
Using Excel spreadsheets / templates enables making changes and comparisons to suit your needs, without re-writing all your
data over. And, provides greater clarity for yourself, and for business plan reviewers.

Products & Services

 Use this worksheet to describe the major goods or services you will sell; your prices to your customers;
and your direct costs - Costs of Goods & Services Sold - of purchases and materials.

Sales Forecast
 Use this worksheet to project sales for each of your major product and services lines by numbers of unit sales and/or billable
rates, and the revenues generated. You can also calculate your Cost of Goods & Services Sold.
 Your Total Sales Revenues are transferred to the Cash In section of the Cash Flow Forecast

Projected Cash Flow

 Show all pre-opening start-up costs in the start-up column.
 Show cash being contributed by owners / principals, and proceeds from sales of any fixed assets.
 Transfer your monthly sales revenue from each month of your Sales Forecast worksheet. Take into account if
your sales receipts are all paid cash at time of sale, or adjust for cash collected as Accounts Receivable at later date.
 You may wish to leave cash from loan proceeds blank until after you have calculated all revenues and costs;
then use the lowest monthly ending cash balance as a guide for your financing needs.
 Record the monthly expenses that you will be paying out each month to run your business.
 Calculate the cash balance at the beginning and end of each month. Start with your beginning cash balance, add
Cash In, subtract Cash Paid Out, and enter the ending cash balance. The ending cash balance for one month is the starting
cash balance for the next month.

Guide & Notes to Cash Flow

 The Guide sheet can be helpful to clarify the typical information and sources.
 The Notes worksheet can be helpful to explain the assumptions you used for your Cash Flow Forecast.
Wherever possible, you should research and confirm costs. Community Futures Staff will review these notes to determine the
extent of your research in regard to revenues and costs.

Balance Sheet
 The Balance Sheet summarizes all of the assets and liabilities of the business, at opening for a new business start-up, or at the
most recent month end for an existing business.

CANADIAN INDUSTRY STATISTICS: SME Benchmarking Tool ( Search online as: SME Benchmarking )
Provides industry specific income statement and balance sheet data for small and medium sized businesses,
showing both and dollars and operating percentages. SME Benchmarking allows you to:
o Estimate the operating costs for your new business in line with other similar businesses
o View financial performance averages in your industry
o Enter your own financial data and or forecasts to see how your business measures up to comparable firms

Ap Community Futures Staff can guide you in locating suitable resources and in preparing your financial forecasts
and reviewing them to determine the extent to which:
o Your revenue projections are realistic and are based on a suitable understanding of markets and competition
o You have carefully considered all of the costs involved in starting / expanding and operating your business

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 Business Loan Application

GUIDE: BUSINESS PLAN SUMMARY

If you have already completed a business plan, attach it with your application. If you have not yet completed a
business plan, this guide may be helpful for you. The following basic business information will enable funders and
stakeholders to better understand and assess your business venture. This information becomes the basis of your business
plan. Answer as best you can, with the information you have gathered and available to you.
Community Futures staff can help guide you in planning your business. We can provide Business Plan and Market
Research Workbooks ( or you may use alternate formats); and, we have various information resources and tools that may
assist your plans.

Business Description
 Is this business a startup; expansion of an existing business, or buy-out of an existing business?
 What is the history of the business (if applicable)?
 What are your products and/or services?

Business Location
 What is your business location and why did you choose that location?
 Will the building be leased or owned? ( if applicable )
 What are the terms and length of the lease contract? (if applicable)

Licenses and Permits

 Is your business name registered with the Registrar of Companies?
 How will your business be affected by local zoning regulations – City and/or CRD?
 What licenses or permits will you be required to obtain?
 Do you require to be registered for GST/PST?
 Do you require a Canada Revenue Agency (CRA) Taxation Number?

Insurance
 What are your insurable business risks?
 What insurance coverage will you purchase to protect your business from fire, theft, vehicle and liability claims?
 Do you require Worker‟s Compensation Board coverage?

Market
 Describe the market for your business: How large is the market? What is your expected market share? Is the market growing
or contracting? What research have you done to demonstrate the market?
 Who is your target customer? Describe their characteristics: (ie: age, sex, families, occupation, lifestyle, income, location, etc.
Competition
 Describe your competitors. What are their strengths and weaknesses in regard to products/services; pricing;
distribution/location; and promotional strategies?
 How will your competitors react to your business?

Competitive Advantage
 Describe the „Key Value Factors‟ in your industry that customers decide who they will buy from. How do you rate?
 Describe your competitive advantage. How will you position your business to be different from and/or better than your
competition? Consider competitive advantages in products/services; pricing; distribution/location; and promotional strategies.
 How will your business attract your target market?

Business Risks
 What are your most significant business risks and what will you do to mitigate them?
 How will your business be affected by changes to the regional industries and the economy?

Other Supporting Information

 Letters of reference
 Letters of intent/contracts/purchase offers
 Price quotations on potential purchases of equipment, insurance, etc.
 Copies of all lease, contracts, or agreements, deeds, or other legal documents
 Any other information that might help clarify or strengthen your proposal and answer potential questions, concerns

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