Loan Application Process

Business Loan Requirements

Businesses applying for loans must be located in the County of Northumberland. As with any application for business financing, a certain amount of detail will be necessary both on the loan application and through supporting documentation.

Please provide the following information:

• Loan Application
  [Click here to download Loan Application in PDF]
• Statement of Personal Assets and Liabilities
  [Click here to download Statement of Personal Assets and Liabilities in PDF]
• Business Plan
  [Click here to download Business Plan Template in Word]
• Cash Flow Projections
• If purchasing land or building, a signed Offer to Purchase, conditional on financing
• Detailed listing of equipment and inventory to be purchased
• Non-refundable Application Fee of $75.00, payable to Northumberland CFDC*

For existing businesses, please also attach:

• The past 3 years financial statements and/or Revenue Canada Statement of Business Activities (Form T2125)
• Revenue Canada Notice of Assessment (T2 for Corporations)
• HST Return for Registrants (Form GST 34)
• Statement of Account for Current Source Deductions (Form PD7A)
• List of your current Accounts Payable and Accounts Receivable
• Detailed listing of equipment and inventory owned
• Articles of Incorporation and/or Trade Name registration

Personal Net Worth Statement

• Personal Net Worth Statement for each applicant (partner(s) and/or spouse)
• Proof of assessment value of home (MPAC Property Tax assessment and/or residential appraisal report)
• Copies of Bank statements supporting account and investment balances and loan/mortgage amounts
• Personal income tax returns for 2 years together with Revenue Canada Notice of Assessment
• Other information to confirm balances on statements

Other

• Résumé(s) of partners/shareholders
• Copy of Birth Certificate and Drivers licenses of partners/shareholders
• Other documentation as deemed necessary and requested after initial submission

The loan application deadline is normally the 20th of each month.

*Note: If the application is approved there is an Administration Fee of 1% of the approved loan. The $75 Application Fee will be deducted from the Administration Fee if the loan is approved and advanced.