LOAN INFORMATION

• Loans are available for business start-up, maintenance or expansion
• Negotiable Interest Rates
• Non-Refundable Loan Application Fee of $50.00
• Loan Processing Fee  of 1% of approved amount to be paid on date of disbursal of funds
• No Pre-payment Penalties

SPECIFIC CRITERIA MUST BE MET:

• Location of the business must be in the Cariboo-Chilcotin region, which includes 100 Mile House and Bella Coola;
• Future economic viability of the business;
• Competent management;
• Reasonable personal financial investment and adequate security for the venture;
• Employment creation or maintenance for predominantly local residents, and
• Life Insurance in the amount of the loan must be in place before funds will be disbursed.

YOUR STEPS TO GETTING A LOAN:

1. Contact Loans Department for a PRE-LOAN INTERVIEW.
2. Complete LOAN APPLICATION. If you have any questions contact the CF Office.
3. Each person applying must complete the PERSONAL OVERVIEW.
4. If a Co-signer is needed for the Loan have that person complete the GUARANTOR’S OVERVIEW.
5. Return all COMPLETED APPLICATIONS to the Business Analyst at the CF office with the $50.00 LOAN APPLICATION FEE to begin processing.
6. When the Loans Officer has completed reviewing the application, WE WILL CALL to advise you of whether or not we can proceed with the application.
7. Complete the BUSINESS PLAN OVERVIEW and return it to the CF office.
8. The Loans Officer will put together a PACKAGE TO PRESENT to the Loans Committee for their perusal.
9. An appointment will be made with yourself and the LOANS COMMITTEE to review the proposal. A decision will be made by the Loans Committee at this time.
10. If DECLINED you have the right to appeal this decision.
11. If APPROVED the appropriate documentation will be completed, signed and funds will be disbursed.