First, read the following list of documentation required. If you are unsure of what any of these documents are, please contact NBCC’s Service Professionals who will walk you through what is required, and help you identify how to obtain what you need if you don’t already have it.
Please note: NBCC requires a significant amount of information to ensure its loans and other credit facilities are processed legally. NBCC cannot process your application without all of the necessary information being submitted. Producing all of the required documentation does not guarantee approval by NBCC. All applications undergo a rigorous evaluation and due diligence process and any decision regarding approval or rejection of an application rests with the Board of Directors of NBCC.
To be eligible for credit with NBCC, you will need to provide evidence that your business was unable to obtain a loan from a financial institution on reasonable terms and conditions; or there is not a financial institution or branch of a financial institution in a community in which you carry on business.
For forms and samples of the documents outlined, you can download many of them at Loan Application Documents or link to them from this list.
Obtain a Business License (Samples) from the city or community in which your business is operating. The City of Iqaluit requires an application to be completed for a business license, with its own set of requirements. For more information for Iqaluit business licenses, please refer to:
Obtain your Workers Safety and Compensation Commission certificate. See Employer Forms for more information on obtaining the correct forms for your business.
Create your business plan. If the loan is for a specific project in addition to you existing business, include a project plan that details your plans for expansion. For more information on creating a business plan, please refer to business planning information at Seven Steps to Help You Start Your Business or en.wikipedia.org/wiki/Business_plan
Contact information for key people included in your business plan, including the name, email, phone number, fax number, and full address in Nunavut for the following people:
Compile the resumes of major management and principle owners, which should be included as part of your business plan. If you have hired or are including additional people that are critical to the success of your project, their resumes should also be included in your business plan.
Provide proof of Canadian citizenship and residency of principal owners as part of your business plan, providing photocopies of the following:
Provide proof if you are a beneficiary under the Nunavut Land Claim Agreement in your business plan by providing a copy of your NLCA Beneficiary card.
Produce a Net Worth Statement (NBCC Form) of the principle owners. Include the Net worth statements for all of the major players for your project in your business plan.
Produce your current financial statements of your business. For established businesses, provide 3 years worth of annual Financial Statements. For new businesses that do not yet have financial statements, provide the past 3 years of your personal income tax returns. These financial statements should be included as part of your business plan.
Produce a proforma budget for your project. Show how you plan to repay all borrowed money from lenders. Include the pro forma budget in your business plan.
Pass a resolution for the company to approach NBCC for a loan, for companies with boards. Include a copy of the resolution in your application package to NBCC, preferably as part of your business plan.
Complete Sections 1 and 5 of Canada Revenue Agency form RC59 - a Canada Revenue Agency form that allows NBCC to access information on your company’s tax status.
Complete Sections 1 and 5 of Canada Revenue Agency form T1013 - a Canada Revenue Agency form that allows NBCC to access information on your personal tax status.
Optional: Obtain letters of support in the event you have borrowed from other lenders, demonstrating your success in repaying loans in the past.
Mail the original signed copy of the application form and the two CRA forms; plus include copies of all supporting documents to:
NBCC staff will confirm the receipt of your full application, and let you know if any components are missing within 2 working days of receiving your documents by email.
NBCC staff will then arrange to meet with you to discuss your project and application and will arrange a discussion paper based on your meeting to settle any questions you or NBCC may have regarding your project.
Credit facility committee: The credit facility committee of NBCC reviews the analysis of your plan, and makes a recommendation to the NBCC Board to approve or reject your loan application.
The NBCC board will meet in person or by teleconference to make a timely final decision on your application.
Notice of Approval/Rejection: If your application is approved you will receive an email from NBCC staff to move onto the next step. If rejected, you will receive a letter outlining why your application was rejected. Under NBCC rules, you are allow to appeal a decision if you wish.
A Letter of offer from NBCC is issued to you, for your review and acceptance of the terms and security required. You review, sign, and return the letter of offer to NBCC in order to complete the final steps.
Lawyers prepare and register the security documents upon signing of the letter of offer. This can take from a few days to several months depending on the type of security.
Fill in the 05610 PAP Authorization Form that allows NBCC to withdraw payments from your bank account on a pre-agreed scheduled basis.
Make sure to communicate regularly with NBCC on your progress, to keep them updated on how well your business is growing!
If you have any questions on any of these steps, contact NBCC’s Service Professionals for more information.
NBC 5 meteorologist Alicia Roman says the wintry snow mix will persist until mid-afternoon Sunday. (Published Sunday, Jan. 25, 2015)
As temperatures fall throughout the morning, the light rain/snow mix will turn into snow throughout the Chicago area. The precipitatation will lighten by the afternoon and early evening and turn into snow flurries. The system is expected to move out by 7 p.m. Sunday.
Only about one to two inches of snow are expected to fall in most of the Chicago area, with the heavier snow falling in the southern part of the region.
The work week will start with another chance for snow and a high of 28 followed by highs in the 30s for the rest of the week.
Wind gusts are expected to reach speeds of 40 to 45 miles per hour in parts of the Chicago area on Monday
It's a windy Memorial Day in Chicago! There is still a chance for some rain this afternoon and evening. (Published Monday, May 25, 2015)
While temperatures could reach the low 80s Monday, the day looks to be dreary. The National Weather Service warns of strong wind gusts between 40 and 45 miles per hour, with some possibly exceeding 50 miles per hour.
The windy conditions will impact most of the Chicago area and Northwest Indiana, but will diminish in strength as the day goes on.
The rain and spotty storms that arrived in parts of the Chicago area to the south and west Sunday afternoon will move out of the area by the late morning hours.
Conditions will stay mostly dry Monday afternoon, just in time for a Memorial Day barbecue, but the clouds will likely stick around. Some areas could see some sunshine and maybe a few pop-up showers and storms in the afternoon, however.
Storms and scattered showers will return to Chicago Monday night and Tuesday, but the rest of the week looks mostly dry with temperatures in the comfortable 70- to 80-degree range.
Giants rookie QB Kyle Lauletta apologized Tuesday morning, a week after he was arrested for motor vehicle violations in Weehawken, NJ
"The incident that happened last week is a terrible representation of who I am and what I stand for," Lauletta said.
The report says he almost hit a police officer while making an illegal turn, was stopped by a second officer and refused to produce license
Police said Lauletta's car was involved in a similar incident Oct. 29, but summons were mailed because the vehicle did not stay at the scene.
You can be sure the Ravens eyebrows went up when the San Diego Chargers signed tackle Jared Gaither to a four-year, 24.6 million contract in March. The deal included 13.5 million in guaranteed pay and an 8 million signing bonus.
It was exactly the kind of deal Gaither, 26, always wanted from the Ravens after he emerged as Jonathan Ogdens heir at left tackle in 2008, but the Ravens never gave it to him, doubting his work ethic and his ability to stay healthy.
The Ravens certainly have their own issues at blind-side tackle these days as they try to decide if Bryant McKinnie is in shape to handle the job for a second straight year, but theyll take that as a problem as opposed to having to deal with Gaither.
According to the San Diego Union-Tribune, just four months after signing his deal, Gaither was unable to practice when he reported to training camp because of back spasms, and he still hasnt practiced. The Chargers have gone out and signed two tackles as insurance.
Keep in mind that the Chargers gave him his big contract based on his performances in just a handful of late-season games in 2011, including one against the Ravens -- not exactly a broad sample size. The Chargers had brought him in as a fill-in after the Kansas City Chiefs waived him, and he played well.
No one has ever doubted Gaithers talent when he is healthy and motivated, but the Ravens never had enough faith in his longterm prospects to give him so much money. I doubt theyre experiencing any regret today.