What is the cost of the Peterborough CFDC services?
There is no fee for our business consulting, business plan critique or loan application.
What is reasonable security?
As part of our mandate with Industry Canada/FedDev, the CFDC is required to use due diligence when evaluating and distributing loans. Our due diligence includes ensuring that our loans are fully secured with transferable collateral. This may include, but is not limited to, real estate and life insurance assignment, liens, and personal guarantees. Each loan application is reviewed on an individual basis. Security requirements differ based on the amount of the request, the collateral available, the length of the term and personal credit history.
Does the Peterborough CFDC run the Self Employment Benefits Program?
While the Peterborough CFDC does not manage the SEB program in Peterborough, it is offered by the Northumberland CFDC in our area. For more information on this program in Peterborough, please contact their local office at 741-1808.
What is the interest rate offered on loans?
The CFDC offers reasonable interest rates based on the prime interest rate. Each loan carries a different set of terms and the interest rate is determined in part by the amount requested, security available, length of repayment and personal credit history. |
