Business Financing FAQs
There can be many important questions for anyone owning, or thinking of starting, a business. Here's some questions to consider as you start your business finance planning.
How do I get a business loan?
At Community Futures, we start the process with you meeting one of our Business Analysts, either by phone, in-person or we can do an online meeting. They will get to know you and your business ideas in that initial meeting.
Next steps are usually providing us a business plan, revenue and expense projections, and personal information that includes a net worth statement and permission for a credit check. They will then take the time to review all the information and work with you over a series a meetings to determine the best loan options for your business needs.
What interest rates do you charge?
A number of factors are considered when determining what the interest rate of a loan will be. Currently Community Futures' interest rates vary between 8% and 11%. Community Futures Cowichan offers variable interest loans priced at RBC prime rate plus 3-5 points based on risk.
How much can you lend or what’s the biggest loan you can approve?
Whether your loan amount is big or small, we lend it all. Contact us to talk about your individual needs.
For additional information on business services or financing, contact CF Cowichan at 250-746-1004 or via email to book an introductory meeting and discuss your needs.
