August 27, 2008 :: 10:04 PM (CDT)
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FedNor
Government of Canada

"To foster stability and growth in a community driven, sustainable and environmentally responsible manner"


Investment Fund Committee
  Provide investment in new and/or existing business of up to $25,000 without having to have Board approval. Investment can be in the form of a loan, loan guarantee or equity investment. Interest rates follow those set by the Business Development Bank of Canada and terms and repayment are flexible to allow every opportunity for the business to succeed. Eligibility requirements are that the client(s) must reside and carry on business in our catchment area, be totally or partially turned down by a Chartered Bank, provide the committee with a three year cash flow forecast and business plan, with at least two years of actual financial statements and up to date current statements.

The committee reviews those amounts over $25,000 and a recommendation is sent to the Board for a final decision.

The committee is comprised of three members from the community at large and three Board members appointed by the Board. The committee elects the chair.