ANNOUNCING THE EMERGENCY BUSINESS ASSISTANCE PROGRAM                  

Emergency Business Loan Program (EBAP) - Effective February 4, 2022 to TBD

Purpose

The EBAP is intended to support businesses impacted by the Disaster* in the City of Merritt and the Nicola Valley. (*November 2021)
This program is available to NEW and EXISTING CFNV clients.

Loan Amount 

Maximum of $10,000 per business.

Interest and Fees

• No fees, payments, or interest until December 31 2023.
• Repayment will be amortized over 12 months at Prime plus 2% effective January 1 2024.

Application Process

• CFNV application must be completed and can be submitted in person, by phone, or email.
• Existing CF Client must have Loan Payment Status current, prior to approval.
• Loans will be evaluated and approved based on the following criteria:
• The business/owner must have a reasonable credit score.
• Permission for Credit Check forms part of the application.
• The Business must be registered in the province of BC and Business # will be required.
• The Business must have been in operation on or before Februrary 1 2020. (2 years)
• The Business is impacted by the declared Disaster. (Examples: Flood damage, Access to property of business restricted, Restricted hours of operations, Staff unavailable, Loss of sales, Interruption of Supply chain)
• Prior to disbursement, clients will be required to sign:
• Promissory note
• Loan Terms and Conditions document

Phone: 250.378.3923
Fax: 250.315.0205
TF: 1.888.303.2232

Send an Email

 

**CONTRACTOR LIST**

Community Futures Nicola Valley is working with the Merritt EOC to host a live updated database of contractors and other businesses/individuals able to assist with flood recovery.