1. Click on the Loan Application button located at the top of the page to access the business loan application.
2. Submit your completed application with the accompanying loan application fee. (A Loan Application Fee of 1% (minimum $250) of the requested amount must accompany all loan applications. The application fee is collected on the understanding should the loan request not be approved, the full application fee will be returned. The Loan Application Fee will not be returned if the application is approved or withdrawn once a Discussion Letter has been signed.)
3. A credit check will be conducted on all applicants.
4. Supply any additional information requested.
5. Our Business Development Officer (BDO) will analyze your loan application and present you with a discussion letter, outlining the loan terms as they will be presented to the committee, to be signed by the applicant.
6. Loans are presented to the RCCFDC Investments Committee (comprised of local volunteers) for approval. ( it to the Investment Committee. Decisions are based on the viability of your proposed business, available security, the impact of job creation or maintenance and the impact on the community.)
7. The BDO will then contact you regarding the committee’s decision. If your loan has been approved, you will receive a “Letter of Offer”, outlining the terms and conditions of the loan.
8. Upon acceptance of the Terms and Conditions set out in the offer, we will commence the preparation of legal documents.
9. Once the security documents are completed, with all terms and conditions met, funds will be disbursed.

Businesses applying for financing must be located in the County of Renfrew or the City of Pembroke.

In order to apply for financing, the following documentation is required;

• Completed Loan Application
• Statement of Personal Assets and Liabilities
• Business Plan (in absence of a Business Plan, a business model canvas)
• Cash Flow
• If purchasing land or building, a signed Offer to Purchase, conditional on financing
• A detailed listing of equipment and inventory to be purchased
• Loan Application Fee

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)Current HST Return for Registrants
• Confirmation that WSIB and Source Deduction payments are up-to-date
• Articles of Incorporation and/or Trade Name Registration

*Note: A Loan Application Fee of 1% (minimum $250) of the requested amount must accompany all loan applications. The application fee is collected on the understanding should the loan request not be approved, the full application fee will be returned. The Loan Application Fee will not be returned if the application is approved or withdrawn once a Discussion Letter has been signed.

All financing decisions are made at the community level by our local Investment Committee, made up of entrepreneurs and experts in their field.

The following criteria will be taken into consideration when reviewing loan applications:

• Business location (must be located in Renfrew County)
• Applicant must be 18+
• Purpose of the financing request
• Reasonable expectation of economic viability
• Creation or maintenance of jobs
• The character of the Client including their credit history
• Personal investment or financial commitment
• The security offered to protect the investment

Renfrew County Community Futures Development Corporation (RCCFDC) takes pride in its long history of working with small business clients in the region. We encourage applicants to have a strong business plan and credit score before applying. Many applicants have been very successful with their loan requests in our 35+ year history.
All declined loans are immediately discussed by the Business Development Officer with the client by phone and followed up in writing by the Executive Director with information on how to appeal a loan decision.
At any point following the loan rejection and/or during the appeal process, applicants have the option to re-apply for financing with a new and improved application package. This will be considered a new application.
All appeals must be made in writing to the Executive Director and/or the Chair of the Board of Directors at info@rccfdc.org within seven (10) days of the date they were notified of the rejection. RCCFDC reserves the right to charge a $250 loan appeal fee.
The Board of Directors will create an Appeal Sub-committee consisting of Five (5) Directors who did not sit on the Investment Review Committee to discuss the specific loan under appeal.
The loan appeal is presented by the Executive Director and/or Board Chair to the Appeal Sub-committee within ten (10) days.
The Appeals Sub-committee’s decision is considered final and the applicant will be notified in writing within two (2) days.