How does applying for a Cambrian Business Line of Credit work?
When applying for a business line of credit, 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 request. At this meeting, we will discuss your project plan, budget, financing needs, information needed to proceed and security requirements.
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, the Business Advisor will confirm the business documentation and financial information that you will need to provide us.
Examples are personal net worth information, tax returns, mortgage statements, leases, articles of incorporation, etc.
Once we have received all the required documentation and reports from your business and third parties, the Business Advisor will analyze, verify and validate the information before proceeding with the business line of credit application.
Once the line of credit is approved, Cambrian will send a Commitment Letter for your review and signature, which will outline your approved credit and the terms and conditions.
Upon meeting all conditions, the line of credit will be set up in your business account.
