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The CFDC of Central Interior First Nations currently has four separate lending pools. We require a well prepared and presented business plan as part of your loan application. You will also be asked to fill out a personal financial net worth statement and provide permission to do a personal credit check. We may request that you obtain a loan guarantor, as we may require collateral. It is important that you understand that each loan requested and each individual applicant is assessed on an individual merit. We are occasionally 'lenders' of last resort and we recognize that, although you may have had credit difficulties in the past, there is a point in each person's life when they need a chance.
We look for character, commitment, collateral and credit in our clients. The reason that character and commitment are listed first is because without those two strengths the other two will not matter.
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If you work on the Business Plan Template or the Cash Flow make sure to save it to disk or your hard drive. Once you log off our website this information will be gone it is just a link to these documents and does not save it for you. If you have a problem opening any of these documents please phone: 250-314-1565.
General Investment Fund - Maximum Loan: $25,000
Youth Investment Fund - Maximum Loan: $15,000
Loans for persons with Disabilities - Maximum Loan: $75,000
Forestry Investment Fund - Maximum Loan: $75,000
Community-Based Micro-Lending Circles - Maximum Loan: $4,000 Per circle
Dale Tomma, Senior Business Development Officer
Stacie Coutlee, Business Development Officer
Jordan George, Operations Assistant
Why do you need a business plan guide
You will need a business plan guide to propose you business idea to CFDC to demonstrate how you plan to use their money.
When Should a Person Prepare a Business Plan
Most people will find that the first draft will differ from their final. This will make it easier to begin your business and avoid failures.
Who Should Prepare the Business Plan
The Business Plan should be prepared by the individuals planning to commence the business. These individuals may seek outside help from other organization such as consultants, accountants, bookkeepers, and experienced business people. It is also a good idea to think about all the elements of your business plan so you have a good understanding of the over all picture and all details.
1: Business Description
Briefly Describe:
If this is a new business venture, expansion of an existing business or the purchase of an existing business.
The type of business activity in which you are engaged (manufacturing, wholesale, retail, food processing, service, high technology, etc.)
Your product or service and its uniqueness.
The market to be served.
Your advantage over the competition.
The main objective of your organization.
Your management background, and
The project time frames involved.
In addition, briefly describe what form of business structure you have chosen :
Sole proprietorship
Partnership (enclose agreement), and
Corporation (enclose shareholders agreement)
Include:
Date the business was registered/incorporated.
The business name and address.
The phone number of the business.
The principals name and telephone number, and
The percentage of business or number of shares held by each (in partnership or corporation).
2: Project Costs and Project Funding
Identify the costs to get into the proposed business venture and the sources of the project funding.
Project Cost Summary
Land and Buildings ______________________
Leasehold Improvements (renovations) ______________________
Equipment/Furniture ______________________
Other Assets (goodwill, franchise, etc.) ______________________
Vehicles (if used in the business) ______________________
Inventory (opening cost) ______________________
Other Start Up Expenses as per Cash Flow (accounting, taxes and licenses, insurance, rent, supplies, etc.) ______________________
Working Capital ______________________
Total Project Cost ______________________
Project Funding
Equity
- cash ______________________
- contributed assets ______________________
Land and Building Mortgage ______________________
Equipment Loan ______________________
Other Loan ______________________
Line of Credit (L/C) ______________________
Grant ______________________
Total Project Funding ______________________
TOTAL PROJECT COSTS AND PROJECT FUNDING MUST BE EQUAL
3: Product/Service
Describe the product to be produced or the services/goods to be provided. What makes your product or service unique, or, how is you business different from others in the industry? What are the features or advantages that will encourage customers to buy from you. Will you offer any product or service guarantees/warranties? Provide information on any patents, trade secrets, or other technical advantages over the competition.
4: Marketing
Find out who your main purchasers or targets are going to be, for your service or product. Identify your competitor's strengths and weaknesses. Try to determine how your competitors will react, if at all, to you entering the market.
Compare past sales, with your projections for future sales. Are your expected increases in sales revenue realistic?
Are you satisfied your cost of sales and other overhead expenses sales are accurate and under good control?
5: Operating Requirements
Identify your facility requirements as to the size, location, and type of premises. Include drawings of the proposed building layout. Attach the most recent real estate appraisal, offers to purchase or lease agreement, supplier quotations, etc. Indicate why you have selected this location. Provide details relating to special requirements as to water, power, compressed air, ventilation, heat, air conditioning, drainage, disposal, Department of Health requirements, etc. Attach approvals from Public Health, Liquor Licensing, City zoning, etc. Provide a detailed listing (including legal descriptions) of the land and buildings, leasehold improvements, equipment and furniture, vehicles, inventory and other assets. The listing should include the proposed purchase price of each asset. Provide a general description of the day to day operations of the business (include hours of business, days open, seasonality of business, suppliers and their credit terms). Provide product/manufactured cost estimates (if applicable).
6: Management
What is the proposed organization chart of the company (who does what)? Include a brief job description for each position. Provide brief management biographies of the key personnel (include their ages and backgrounds in this type of business). State the compensation package (salary, bonus, profit sharing, etc.) for each member of management.
7: Personnel
List employees (not owner or manager) using the following headings: position: full-time, part-time, seasonal; and method of payment: hourly, monthly, commission, etc. Provide a job description for each position, identifying the responsibilities and duties involved. Include what skill level is needed. If job training is required, identify the duration and the cost of the training.
8: References
Identify your:
Accountant:
Name__________________
Number_________________
Banker:
Name__________________
Number__________________
Consultant:
Name__________________
Number__________________
Insurance Company:
Name__________________
Number__________________
Lawyer:
Name__________________
Number__________________
9: Financial Projections
Provide a projected (pro-forma) Three Year Cash Flow, Balance Sheet and Profit and Loss Statement.
10: Additional Information
It is common for a financial institution to request that the principal (s) submit, with a loan application, a statement of personal net worth. This form is usually provided by the financial institution. If applicable, historical financial statements on the business venture may also be requested. Other supplementary and supporting documents for your business plan should be included in an appendix.
If you require one of our Business Plan Templates Contact our office we will be sure to send you a copy.
To use a Interactive Business Plan go to this link Canada Business Service Centres - ibp