General Business Loans
Term loans up to $300,000.
Interest rates
are fixed for the repayment period.
Operating loans up to $300,000 to finance
accounts receivable and inventory. Rates
will be fixed for a period of one year.
Eligibility
- Majority
ownership by a member of
Six Nations or New Credit.
- Startups
or expansion of an existing business are eligible.
- Management
competence and ability must be demonstrated. Your business must be
viable.
- You must
have a financial (equity) involvement.
Purpose
The purchase of land, buildings, equipment necessary
to carry out the business.
Acquisition of an existing business provided the transaction is "arms
length".
Operating lines of credit are available to finance the working capital
requirements of the business.
Interest Rate
Interest rate minimum of 8%. The interest rate will
reflect the risk and repayment term of the proposal.
Loan Evaluation Process
- Complete the loan
application which provides basic information about
the applicant and project.
- Perform credit check
and confirm that the application meets Two Rivers eligibility criteria.
Upon Acceptance
of the Application
- A pro-forma business
plan and business plan guide will be provided to the applicant for
completion. Two Rivers will assist in ensuring the business plan is
completed in the proper format. HOWEVER, the applicant is responsible
for completion and content. We believe that completing the business
plan is a critical part of the applicant’s research of the feasibility
or viability of the project. We use it to evaluate the applicant’s
management ability as well as the viability of the concept. We will
accept business plans prepared by a consultant, we will not discuss
the plan with your consultant. It is our expectation that the business
owner is completely familiar with the content of the plan. The consultant
will not manage the business and typically after they have completed
the document their involvement ends.
- Review and acceptance
or decline.
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