Important: Please contact our office for initial discussions concerning your application.
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- Develop a business plan, including financial projections.
- Complete the required loan application form.
- Submit both the completed application package and your business plan to the Community Futures office. Ensure that the application package is signed by yourself (the applicant/s) and your spouse, married or common law partner/s.
- A credit check will be conducted on all applicant/s and their spouse/s.
- Attend an interview with Community Futures loans staff to discuss your business plan.
- Supply any additional information that may be required.
- Loans under $10,000 are assessed by Community Futures loans staff for approval. Applications for these loans can be submitted at any time.
- Loans for more than $10,000 are presented to the Loans Committee (comprised of local volunteer directors) for approval. Accordingly you will be advised of the date of our loan meeting and by when we need to have received your application and support information. Upon approval, we will contact you with information concerning the decision.
- Our “Letter of Intent” outlining the terms and conditions of the loan will be prepared for your immediate review.
- Upon your acceptance of the terms and conditions set out in the offer, we will commence preparation of the legal security documents.
- Once the security documentation is completed and executed by you, we will be in a position to disburse the funds.