What is your interest rate?
Interest rates start at prime plus 2%, depending on the level of risk involved with the loan.
What makes RCCFDC different from a regular lending institution?
At Community Futures, we have developed loan criteria that look beyond conventional financial formulas, we look at the whole plan. We want to work with you to make your business a success. The goal of our loans program is to get your business to a point where it is bankable.
What will my monthly payments be?
Contact the Business Development Officer to discuss repayment amounts and options.
Do you require security?
We require security equal to the value of the loan. Security can come in many forms; a realty mortgage, equipment and personal guarantees, assignment of life insurance (arrangements made by RCCFDC) to name just a few.
How do I apply?
Contact the Business Development Officer (BDO) to discuss your business needs. Application packages can be emailed, mailed or picked up at our office after speaking with the BDO.
What is the minimum and/or maximum loan amount?
Loans range from $10,000 to $150,000.
How long do I have to pay back the loan?
The maximum term length is 5 years, amortized over 10 years. The term of any loan will be determined by our investment committee based on your cash flow forecast and over all capacity. All of our loans are reviewed annually. Our loans are repayable in full at any time without penalty.
Do I have to submit a full business plan?
Processing time of applications can be directly influenced by the quality of the business plan and information provided. The more information provided to the BDO, the higher the quality of the application and the BDO’s ability to provide the RCCFDC Investments committee with complete and accurate information.
How long will it take before I can get money?
This often depends on the ability of the client to complete the conditions and security requests explained in the “Letter of Offer”. Once all the security documents are completed we will do our best to ensure funds are distributed in a timely fashion. If you do have a specific time frame, make sure it is communicated to the BDO and we will try to accommodate your request. | 
