How does applying for a Cambrian Business Loan work?
When applying for a loan, it is important to work with a lender that understands your needs and your business.
The first step of this process is a meeting with a Cambrian Business Advisor to review your project. At this meeting, we will discuss your project plan, budget and your financing needs. Depending on the type of project, we may request additional information.
Our advisors are available to meet you however is most convenient for you – by phone or video or if you prefer, in-person at your place of business or at our office.
Following our initial meeting, you can expect to receive a phone call to review the discussion paper outlining the specific details of your project and the requirements and terms of our loan financing, including amount, rate and term. The discussion paper will also list the conditions and precedents that must be met before Cambrian can fund the loan, the reporting requirements and any other relevant information.
The discussion paper will provide you with all the information you need to decide if you want to proceed with our proposed financing.
Once Cambrian has received all the required documentation and reports from your business and third parties, our team will analyze, verify and validate the information before proceeding with the approval of the loan.
Once the loan is approved, Cambrian will send a Committment Letter for your review and signature, which will outline your approved credit and the terms and conditions of your loan.
Upon meeting all pre-funding conditions, you receive your funds, allowing you to move forward with your project.