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Business Loans: An Overview

Community Futures Shuswap provides secured, repayable loans from $500 - $150,000 with an opportunity to partner with other Community Futures offices for larger loan amounts. We are a lender with a vision of supporting, enhancing, and expanding an existing business or help start a new business in our region. We maintain competitive interest rates, with flexible repayment terms and no repayment penalty. Please review the following information and tips to help you through the process.

The Basic 5 Steps

1. Submit a Business Loan Application

Applications are available online or at our office.  Complete and return with the applicable fee to our office. (See costs below.)

2. Meet with a Loan Account Manager

If your application looks feasible, an appointment will be made for an interview with a Loan Account Manager.

3. Receive a Loan Proposal

After research and investigation are completed, a Loan Proposal is written up.

4. Await Approval

A presentation of the completed Loan Application and Business Plan Overview is made to the Community Futures Shuswap Business Development Committee (BDC).

5. Congratulations! Collect your funds.

If approved, you are on your way to starting or growing your business. Documentation is drawn up and signed. Funds are made available to the client.​

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The Business Loan Application

You will need to provide the following:

  • Applicant Information

  • A Business Plan

  • Cash Flow Projections

  • Picture Identification

  • Your Personal Resume

  • Financial Statements (if an existing business)

  • Personal tax returns for last 3 years, including current year.

  • If an incorporated company, a complete copy of the minute book.

       (On-line incorporations won’t be accepted.)

  • Proof of registration/insurance for vehicles/recreational items listed as security

  • Business Registration Documentation and Business Identification Number

  • A Guarantor Loan Application may also be requested

The application forms, business templates and other resources for your Business Loan Application can be found in our Business Toolkit by clicking here.  You can also visit our office if you need any further assistance.

Application Fees
In order for us to proceed with the Loan Application, a $150.00 processing fee per applicant will be required upon receipt of the application.
Applicants who are successful in moving into Phase 2 of the loan process will be responsible for a non-refundable Loan Processing Fee of:


  • 1.5% of loan amount minimum $500.00

  • Legal costs, if applicable, will be in addition to the 1.5% and will be deducted from the monies that are disbursed


Community Futures Shuswap analyzes the following criteria when considering a loan application:


  •    Market potential and future economic viability of the business   

  •    Employment creation or maintenance for predominantly local residents

  •    Location of the business in the Community Futures Shuswap region

  •    Reasonable personal financial investment in the business

  •    Ability to repay the loan and meet operational cash flow needs

  •    Ability to reinvest if needed in the future

  •    Adequate security for our investment in the venture

  •    Personal credit-worthiness of the business owner

  •    Competent management, experience, or education in the industry

  •    Historical performance of the existing business

The Board of Directors has appointed a Business Development Committee (BDC) to provide expertise, business acumen, and community input into the lending activities of the Community Futures Shuswap. The BDC is currently represented by Community Futures Shuswap Board of Directors: Cookie Langenfeld (Chair), Ron Langridge, and Doug Murray as well as Community Members: Rob McKibbon, Charlie Burt, James Young, and Gord Erickson.  The terms of reference for this committee include:

(a)  Ensure investment policies and ethics are being observed;

(b). Review investment/credit philosophy and policies and make recommendations for changes and enhancements;

(c)   Review all loan applications submitted to the Loans Program and approve or reject such applications including the confirmation of specific terms and conditions to be set out in agreements with clients who receive financial assistance;

(d)   Review credit delinquency reports, non-performing accounts, loan loss provisions, and proposed/actual write-offs. Evaluate and recommend on foreclosures, sales, legal action, revision of terms and conditions of loans;

(e)  Review any instances of fraud, theft, or embezzlement;

Monitor the diversity of the loan portfolio in an effort to meet the Loans Program’s objectives relative to risk and sectoral representation


In the event a loan application is not approved by our Business Development Committee, written notice will be provided identifying which criteria has not been met. Please note that applicants do have the option to reapply for a Community Futures loan if and when the appropriate criterion has been met.


If you are unsure of your eligibility, simply fill out the Loan Application and e-mail or drop it off in person to us. We will review the form. For additional information, please also review Business Plan Guidelines.

Loan Terms and Conditions

Our interest rates are calculated on the basis of the prevailing Bank of Canada prime rate plus a variance depending upon the level of risk involved. Upon authorization, our loans are subject to administration fees to cover related costs, and applicants are responsible for any direct legal costs for loan security documentation.


Maximum repayment is 5 years or 15 years with mortgage security. There is no prepayment penalty. Applicants should have 20 – 25% investment in the business, and provide security for the funds being borrowed. A written business plan and cash flow are required for all applications. Loan applications are subject to administration fees to cover related costs, and applicants are responsible for direct legal costs for loan security documentation.

At Community Futures Shuswap we are committed to providing the highest quality of client services. If you do not feel you were treated in a professional and fair manner, please direct your concerns to us.  See our Client Resolution page for details on how to address your concerns.

Remember, we are here to help!


If at any time you should need assistance,

please visit our office or call us at 250.803.0156 or 1.877.803.0156.

Loan Payment Options

  •  E-transfer through your financial institution

  •  In-person at Community Futures Shuswap

  •  Mail a cheque

Loan Opportunities

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