Western Economic Diversification (General Loan Fund)
- Loans are provided to establish or expand a business,
- Business must be at least 51% owned by Treaty Seven Members
- Maximum loan per business is $25,000.00,
- All loans require equity of 10% (or proof of sweat equity)
- Agriculture loans (ranching & farming) not provided,
- Loans provided to businesses located on and off reserve,
- All loans require community support through a Band Council Resolution (on reserve only),
- Only viable business plans will be approved. (The business must prove that it can generate enough revenue to repay the loan),
- Business mandate to increase long term, full time employment for Treaty Seven Members,
- Must provide proof of decline from traditional financial institution,
- Business Analyst will complete loan application upon receipt of all necessary documents.
CFT7 Loan Process
- Review for viability
- Credit checks completed
- Ratios Analysis
- Make recommendations to Investment Review Committee and Board for approval
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