CFEK has developed an alternative repayment option where RRRF clients may apply to extend the repayment of their outstanding balance from 24 months to a 60 month working capital loan. RRRF clients may apply to convert their outstanding balance to a 60-month working capital term loan with lower monthly payments of principal and interest (5% annual rate), with a loan start date of January 1, 2024 and first payment date of January 15, 2024. This option is subject to additional due diligence and security taking at the time of conversion.
Applications must be received no later than September 30, 2023, and will be processed in the order that they are received. CFEK may not have sufficient funds available to meet demand for this option so applications will be assessed on a first come, first served basis.