FAQ

If I cannot access financing under the Black Entrepreneurship Loan Fund, where can I go for additional information?
FACE intends to refer applicants whose loan application was not approved to corresponding regional FACE member organizations and affiliates for further capa...
Tue, 5 Oct, 2021 at 6:17 PM
What are the penalties incurred in the event of non-payment?
All of the BELF loans will be secured by Personal Guarantees. If the business is not able to repay the loans then the guarantor will be called upon to rep...
Tue, 5 Oct, 2021 at 6:18 PM
Who are the people who will analyze my request?
Entrepreneurship Loan Officers are analyzing all loan applications and submitting them for review to an ad-hoc committee mandated by the FACE Board of Dir...
Tue, 5 Oct, 2021 at 6:18 PM
If my loan application is refused, will I be informed of the reasons?
The Entrepreneurship Loan Officer assigned to a file will inform an applicant of a refusal and recommend the steps to address or improve their chance for ...
Tue, 5 Oct, 2021 at 6:18 PM
If my loan application is refused, will this affect my credit rating ?
No- your credit rating will not be affected by your loan application is not accepted
Tue, 5 Oct, 2021 at 6:18 PM
My credit rating is low, however, my business plan and financial statements are strong. Which one will be considered the most in the loan application?
Our adjudication model takes into consideration several factors apart from the credit score. The strength of your business plan and financial statements w...
Tue, 5 Oct, 2021 at 6:19 PM
I have questions about my loan application, Who should I contact ?
You are invited to call the following phone number : 1(855)560-FACE (3223)
Tue, 5 Oct, 2021 at 6:19 PM