Applying For a Loan

From application to loan disbursement, here are the steps we follow:

1. You submit your completed and signed application to SCFDC.
2. You approach your Chief and Council to obtain a Band Council Resolution (BCR). Once received, SCFDC will appoint a contact person responsible for your application.
3. SCFDC completes a credit check for your application. (Please note this is not the only basis for approval or denial. SCFDC considers all credit based on circumstances.)
4. Your SCFDC contact sets up a meeting with you in person or over the phone to discuss your application and talk through next steps.
5. You obtain and supply relevant documents requested by your SCFDC contact. These often include quotes, licences, receipts, invoices, etc.
6. Your SCFDC contact uses the documents provided to create a loan package and sends it to the loan committee for review.
7. The loan committee meets to review your loan application. If approved, members sign the documentation and/or cheque.
8. If your application is approved, your SCFDC contact sets up an in-person meeting to get your final signature and hand over your loan cheque.

In the event you wish to appeal a decision of the SCFDC Loan Committee, the following process is adhered to:

1. You notify the Chairman of the SCFDC Board of Directors of the reason for your appeal in writing within 15 days of receiving the decision.
2. The Chairman forwards the appeal to the General Manager, who compiles and forwards all information regarding your application to the SCFDC Board of Directors.
3. The SCFDC Board of Directors reviews the decision made by the SCFDC Loan Committee, providing a clearly written non-binding recommendation within 15 days of receiving your written appeal.

In the event the SCFDC Board of Directors upholds the Loan Committee’s decision, you may request further consideration by providing written notice to Community Futures Investment Fund Committee located in Winnipeg, Manitoba. The committee is comprised of board members from Community Futures offices across Manitoba.