Enquiry
- The enquiry stage is the first step in Waubetek Business Development Corporation’s Business Process. The program criteria, eligibility and processes are discussed with a potential client.
- If the proposed project and applicant appear eligible an information package is sent.
- If the client is clearly not eligible for Waubetek programs, other programs and services are suggested.
Application and Submission
Initial information required to make a full application include:
- Application;
- Resume;
- Summary of Project;
- Documentation of Aboriginal Ancestry, driver's license and birth certificate;
- Cash Equity Documentation.
The application for the Aboriginal Business Canada / Waubetek loan is reviewed for completeness and is then screened for eligibility to the Waubetek/ABC screening committee.
If eligible, a consulting proposal/marketing plan/business plan is requested. Information on an appropriate structure for preparing a business plan will be provided.
If ineligible, the Business Development Officer will suggest options for alternate financing.
Review and Approval
The business plan is analyzed thoroughly and required information is obtained prior to recommending a contribution. The analysis results are summarized for presentation to the Waubetek board for approval.
If approved, a Letter of Offer is issued which the client must pick up to discuss. The letter of offer outlining all contribution levels and disbursement conditions.
If declined, a letter is issued to the client outlining the principle reasons for the decline.
Payment
To receive any payment the client must:
- provide all pre-disbursement information outlined in the Letter of Offer;
- prepare and sign a claim summery form outlining all costs being claimed;
- submit copies of invoices /quotations;
- attach proofs of payment.
Once information is provide a cheque is processed and issued to the client and/or client and supplier.
Monitoring
After dispersal of the full contribution the project will be monitored for the full life of the contract period, please refer to the Letter of Offer.