The Express loan, under the authority of the Board of Directors, is created to encourage business development in Prescott-Russell. Whether is be for:
- publicity campaigns;
- promotional tools;
- improve or refresh equipments;
- leasehold improvements;
- increase inventory;
- business development, or;
- help with working capital.
- Term loans available up to a maximum of $15 000 in the form of financial loans for businesses who qualify;
- Applicable interest rate is the prime rate of the PRCDC + 3%;
- Flexible terms and reimbursment;
- Upon reception of the complete file, a decision will be transmitted within 72 hours (business days);
- Evaluation of the viability of your business venture and assistance obtaining realistic financing;
- Information concerning the government and other program services available to SMEs.
If the Board of Directors rejects a proposal for financial assistance, the applicant may appeal the decision to the Board of Directors.
If a client requests an appeal, members of the Board of Directors may be invited to attend a meeting with the client in question. The intention is to have the appeal heard by the required majority of the members. If the request is subsequently refused during the Board of Directors consideration, the applicant with have no further appeal.