Loan Application Process

Business loans are available to new and existing businesses located in the Town of Prescott and the Townships of Augusta, Edwardsburgh/Cardinal and the Municipality of North Grenville.

Here’s how to apply:

Step
01

Begin the process

Begin the process
  • Prepare your Business Plan
  • Contact our Business Advisor for an initial interview.

Step
02

Meet with our Advisor

Meet with our Advisor

This is where you tell us about your business plan and financing requirements, and we sort out the best options to meet your needs.

Step
03

Complete the Application

Complete the Application

To ensure things go smoothly, we’re going to need the following:

Once we review your details, we may ask you for additional documents, if necessary.

Step
04

Evaluation

Evaluation

Our Business Advisor will review your loan application documentation and present it to the Investment Committee of our volunteer Board of Directors. All financing decisions are made by the Investment Committee at their monthly meeting. Financing decisions are based on the strength of your business plan, your ability to repay, available security, impact on job creation or maintenance and the impact on long-term growth for the community.

Step
05

Decision & Documents

Decision & Documents

Interest rates, terms, security and reporting requirements reflect the level of risk involved and are assessed at the discretion of our Investment Committee.

Repayment terms can be customized to meet your business needs and will not normally exceed 10 years. The term of your loan is determined by our Investment Committee based on your cash flow forecast and overall capacity. Loans are reviewed annually. Note: Your loan is repayable in full at any time without penalty.

Ready to get started?

Get started!

Download the forms.

Need Help? Contact

Our Business Advisor
This email address is being protected from spambots. You need JavaScript enabled to view it.
for assistance.

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