Loan Application Processs
1.
Talk to our team
Contact our staff via phone call, email or drop-in to schedule a meeting where you can discuss your business idea, whether it's for starting up, expanding, or maintaining your venture. The Community Futures North Fraser team will provide guidance and support throughout the application process, culminating in a review by the Loan & Investment Committee.
2.
Documentation
Under the guidance of the Staff, submit the Business Loan Application online and compile the necessary paperwork. This typically includes:
- Business Plan or Executive Summary
- Business Cashflow Projection
- Business and personal financials: as mentioned in the Loan Application portal.
3.
Assessment
Following the submission of your documents, Staff may require additional information for comprehensive review. They will then present your completed application to the Loan & Investment Committee, which will make the final decision on approval you may be asked for further details before the Committee’s decision is finalized.
4.
Decision Making
Once the decision is made, the Loans & Investment Committee will communicate its decision through staff. They will inform you of the outcome, outline the next steps, and assist in completing any necessary documentation. The whole process typically takes 1-2 weeks.
5.
Business Support
Even after the decision is made, Staff remain committed to supporting your business journey. Throughout our loan aftercare process, we perform quarterly/annual reviews, provide guidance, and explore additional resources as needed. Should you require assistance regarding any aspect of your business, Community Futures North Fraser is readily available to offer support.
.
Loan Appeals
If your loan application is declined, you may submit a written appeal to Community Futures North Fraser for review. You will be notified of the outcome in writing
