FREQUENTLY ASKED QUESTIONS

Listed below is a sample of some of the frequently asked questions about our organization's services:

1) Do you provide GRANTS or FORGIVABLE LOANS?

Answer: We DO NOT provide grants or forgivable loans. All loans are subject to interest and administration fees, and will have a repayment schedule tailored to the needs of the client.

2) What is the most I can borrow?

Answer: The maximum amount that a Business/Individual can borrow is $50,000.

3) What Interest Rate will I pay on a loan?

Answer: Cedar Lake CFDC uses a base rate of 8% and a Variance is either added or subtracted depending on the risk and duration of the loan.

4) How long do I have to repay a loan?

Answer: The longest term Cedar Lake CFDC can give is 5 years.

5) How long does it take to process a loan application?

Answer: Depends on the nature of the business as well as speed at which the client can get the required information to Cedar Lake CFDC.

6) Where is the Cedar Lake CFDC office located?

Answer: Cedar Lake CFDC Office is located at #1 St. Godard Street in The Pas, Manitoba.

7) How much do I need to contribute to qualify for a loan?

Answer: Cedar Lake CFDC requires a minimum client investment of 10% CASH.

8) Does Cedar Lake CFDC help do business plans?

Answer: Cedar Lake CFDC can ASSIST in the process, but the client must attempt to complete as much as possible on their own.

9) Does Cedar Lake CFDC assist in filling out applications for other Financial Institutions?

Answer: Yes, we can assist in completing applications for other Financial Institutions.

10) Does Cedar Lake CFDC provide Training?

Answer: Yes, we do provide training. Please check the calander for upcoming training sessions.