Criteria

We can help finance any viable business venture up to $150,000.*

The following is taken into account when you apply for a loan:

  • Viability of the business – Are you fulfilling a real need in a non-competitive mark?
  • Your personal commitment level to your business
  • Abilities and skills as Owner / Operator
  • Creation or maintenance of jobs; business related expenditures made locally
  • Location of the business within the Okanagan Similkameen region
  • Do you have a solid Business Plan or willingness to build one?
  • Well defined product or service
  • Well defined and understood target markets
  • Well defined go-to-market strategy
  • Planned, measurable operations and execution plan
  • Well researched sales, marketing and advertising plan
    • If new business, provide market survey and letters of support from potential customers or clients
    • Detailed business sales, income statement and cash flow forecasts
    • If existing business, provide last 3 years of financial statements (balance sheet and income statement)
  • Do you meet the The 5 Cs of Lending?
    • Character – Entrepreneur’s stability, history, references, experience.
    • Capital – Commitment and combined value (in cash or in kind) to invest.
    • Capacity – Entrepreneur or business’ ability to service debt and personal needs.
    • Conditions – Does the market support business establishment and / or growth.
    • Collateral – What the entrepreneur or business can use to off-set investment risk.

Contact us if you would like a Business Analyst to help you with your business plan or supporting documents.

*under special circumstances, loans greater than $150,000 may be made.

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