Loan Requirements

Like any application for business financing, a certain amount of detail will be necessary both on the Loan application and through supporting documentation. In addition to your fully completed Loan Application and Statement of Personal Assets and Liabilities please provide the following information.

  • Application for Financing
  • Completed application
  • Business plan
  • Cash Flow Projection
  • 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.

Susan Latta, Northumberland CFDC Business Manager is available to answer any questions you may have and assist you through the application process.

Susan R. Latta
Business Manager
susan.latta@northumberlandcfdc.ca
905.372.8315 extension 223

Northumberland Community Futures Development Corporation
600 William Street, Suite 600,
Cobourg, Ontario, K9A 3A5