About
our Loans
Our loans can help you create income,
build assets and overall help improve your economic security. Loans can be
used for almost anything as long as it is legal and gets you back
to work, helps you start a business, or helps you secure better
and more affordable housing.
The maximum size of the loan varies, for business it is $7,500,
for getting back to work, it is $2,500, and for securing housing,
it is $1,000.
For back to
work and secure housing loans
you need to fill out this
Personal Application
form. On the application you must show that you
cannot get a loan elsewhere due to income, assets, security or credit
history. You also must have three references that can speak on your
behalf, not friends or family. In all cases, you need to show that
you can make monthly payments.
Each loan carries
a 5% to 10% fee and an interest rate of prime plus 3%. Loan decisions
are made by a committee and can take up to one month to process
depending on the applicant's ability to provide all necessary information.
Call Matt Brown at 652-5626 for any assistance or to set-up a
meeting.
Business
Loans
So, you have
a good idea but you don't have the money to get started. What you
need is a business plan that tells us what your product or service
is, why people want to buy it, how you'll sell it, where you'll
sell it and how long it will take to make money.
Our Business Plan Guide can help get you started. You will
also need to
fill out a
Business Loan Application Form.
Back
to Work Loans
If you have
an opportunity to get back to work then you need to confirm the
employment using our Employment Confirmation form. On the form,
the company will confirm your job position, your hours, rate of
pay and start date. We provide Money Matter$, a basic course in
money management, to all back to work loan borrowers, and if completed,
your loan is interest free.
Loans
to Secure Housing
Housing loans will help you move to
more affordable housing and better quality housing. They are not
urgent loans. Each loan will require an inspection of current
housing and future housing options. Applicants will be required to
track their spending for a period of two weeks prior to a loan
approval.
Want
to get involved? Call!
506.652.loan (5626)
Saint John Community
Loan Fund
133 Prince Edward St., Saint John, NB E2L 3S3
Email:
loanfund@nbnet.nb.ca
Fax: 506.652.5603
* Charitable# 85491 3241 RR0001
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