Loan programs start with either a call to the office and arranging an appointment with our business analysis team or with a systematic read of the Business Start-Up, Business Planning or Business Expansion pages on this website.
Then visit, call or email our Community Futures office to arrange an appointment with our Business Analysis team.
Criteria
To obtain a loan, specific financing criteria must be met, including completing a detailed Business Loan Application (available upon request) and a Business Plan.
To consider your application, we look at a number of benefit and risk factors, including:
- Employment created or maintained predominantly in the region;
- Business located in the Stuart Nechako region;
- Reasonable personal financial investment by the owner(s);
- Ability to repay;
- Future economic viability of the business;
- Competent management and relevant operational skills;
- Adequate security for the venture; and,
- Credit history of the owner(s).
A complete Loan Application Package consists of:
- A Business Plan
- A Cash Flow Forecast for the next 12 months (detailed month-by-month; click “Download the Financials Template” on this page to get the Cash Flow Forecast)
- Financial statements for previous years (if this is an existing business)
- A resume from each principal / owner of the company
- A CFSN Loan Application (requires detailed personal and financial history, etc.)
Costs
There are no costs for having your Business Plan and Business Loan Application reviewed. If you require specialized business planning and development services or training, fees may apply. However, you will be informed of this in advance.
How long does it take?
Lending money takes time. How long depends on a number of factors, including the business plan development process, verifying assets, the amount and source of the funds, the volume of traffic at the lawyer’s office, and the time it takes you to provide the necessary information and sign the documentation.
This is a general overview of the Business Loans Program offered by Community Futures. It is important to note that the Business Loan process involves completing a proper assessment of your business needs. This process will involve meeting with a Business Analyst and completing a detailed Business Loan Application and a Business Plan.
