Loan Decision Appeals Process
Community Futures Wood Buffalo Loan Decision Appeals Process:
Once an application has been received, with all the required documentation, clients will be informed within 10 business days as to whether their application has been approved or declined.
Community Futures Wood Buffalo is an independent not-for- profit corporation led by a volunteer Board of Directors. The local Board of Directors has final authority for all decisions.
In an effort to safeguard all efforts are made to ensure our clients are served in a fair and professional manner, the Board of Directors will ensure the corporation provides clients with access to an appeal process.
The loan applicant may make an appeal of a decision, by writing a letter outlining additional information or reasons why the loan should be granted. The appeal shall be reviewed by the Board of Directors
In addition, when a client requests an independent review of the Board’s original and subsequent appeal process, the Board of Directors will ensure the corporation provides the client with timely access to a process of external appeal provided in Alberta through the Community Futures Wood Buffalo’s Appeal/Redress Committee.
The role of the North East Alberta Community Futures Region’s Appeal/Redress Committee is to provide an external and independent review of the level of service, quality of service and the decision made by Community Futures East Central Alberta in its decision making and internal review processes. The Board of Community Futures Wood Buffalo maintains all final authority for all decisions.
If the clients application is declined they may then appeal the decision by completing the following steps:
- Indicate in writing within 14 days that they wish to appeal the decision and why.
- Appear at the next meeting of the Investment Review Committee to present their case. The committee will then meet in private to rule on the decision. The applicant will be notified of the decision by phone at the close of business that day.
If the applicant is declined again they may appeal to the Board of Directors, as a whole, by completing the following:
- Indicate in writing within 14 days that they wish to appeal the decision and why.
- Appear at the next meeting of the Board of Directors to present their case. The Board will then meet in private to rule on the decision. The applicant will be notified of the decision by phone at the close of business that day.
