ANNOUNCING THE EMERGENCY BUSINESS ASSISTANCE PROGRAM
Emergency Business Loan Program (EBAP) - Effective February 4, 2022 to TBD
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.
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.
- 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
Send an Email
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.