Community Futures Peterborough Introduces New Start-Up With Arc Motor Company

Community Futures Peterborough (CFP) has introduced its new client, ARC Motor Company in the Peterborough Airport’s Loomex Hangar on Wednesday afternoon.

(From Right to Left) Bryan May, Parliamentary Secretary to the Minister of Small Business; Tom Chep, COO Arc Motor Company; Warden Bonnie Clark; Sloane Paul, Founder/CEO of Arc Motor Company and MP Michelle Ferreri. A ‘74 Ford Bronco has been converted into an electric vehicle by Arc Motor Company. Photo by David Tuan Bui.

The affiliation of the two companies saw CFP help launch ARC with a business loan.

“The passion, drive, and commitment to sustainably innovative technologies are all demonstrated through the leadership team at ARC,” says Devon Girard, CFP executive director. “We are so excited to reveal this company and its commitment to sustainability to the world.”

Based in Peterborough, Ontario, ARC is a green-tech start-up that transforms and upcycles iconic classic cars into modern and powerful electric vehicles. They equip electric vehicles with the latest technology to drive better performance and contribute to a future with net-zero emissions. The company is headed by CEO Sloane Paul — the first woman in North America to establish such a start-up — with her brother Tom Chep as the COO.

“Not only are we grateful to the team at Community Futures Peterborough for providing us with a critical loan, but also for their invaluable expert advice and guidance,” said Paul. “Their mentorship has been instrumental in steering us—as a start-up-along the right path.”

“With the support of Community Futures Peterborough, we are poised to make a meaningful impact on our community's future,” said Chep.

Chep successfully engineered the restoration of the company's first car. A 1974 Ford Bronco into a fully electric vehicle using upcycled lithium-ion batteries.

As a start-up company, qualifying for lending from traditional banks became challenging, until Community Futures Peterborough could step in and provide lending options.

“Small town businesses create very big ideas,” says Bryan May, Member of Parliament for Cambridge and Parliamentary Secretary to the Minister responsible for the Federal Economic Development Agency for Southern Ontario. “ARC Motor Company is an example of how great ideas get off the ground with the right supports. Our government works with businesses and the organizations like Community Futures Peterborough that support them, as they find new and innovative ways to contribute to a strong economic future for Ontario and all of Canada.”

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